General Announcement
Reference No
BD-060621-61195
Company Name
:
BINA DARULAMAN BERHAD
Stock Name
:
BDB
Date Announced
:
21/06/2006
Type
:
Announcement
Subject
:
PROPOSED MIXED HOUSING AND COMMERCIAL DEVELOPMENT AT MUKIM PINANG TUNGGAL, DAERAH KUALA MUDA, KEDAH DARUL AMAN (EXTERNAL WATER SUPPLY) ("THE PROJECT")
Contents :
Bina Darulaman Berhad (BDB) is pleased to announce that on 21st May 2006, Perbadanan Kemajuan Negeri Kedah (PKNK), the holding corporation of BDB has issued a Letter of Award dated 21st May 2006 to Kedah Sato Sdn Bhd (KSSB) to undertake the abovementioned project at the cost of RM5,994,337.00, of which KSSB has accepted. KSSB is a wholly owned subsidiary of BDB and is a Class A building and general contractor.
Details of Letter of Award ("LOA")
The salient terms and conditions of the LOA dated 21st May 2006 are as follows:-
(i)
Scope of Work
The scope shall include the supply and laying of pipes for external water supply to the said project.
Other terms of the contract and without limiting to the following:-
(a) Date of Site Surrender : 1 June 2006
(b) Contract Period : 5 months
(c) Work Completion Date : 30 October 2006
(d) Defect Liability Period : 12 months
Financial Effect
The project is expected to contribute to the earnings of KSSB and the BDB Group of Companies for the current financial year.
Directors and Substantial Shareholders' Interest
Dato' Paduka Hj. Mohd Saad bin Endut and Encik Rozhan bin A. Rahim are directors of KSSB by virtue of them being Directors of BDB.
Save as disclosed above, none of the other Directors, or persons connected with the Directors has any interest, direct or indirect in the project.
PKNK is the holding corporation of BDB and the ultimate holding corporation of KSSB. The project was awarded based on selective tender and on arm's length basis.
Save as disclosed above, none of the substantial shareholders or persons connected to the substantial shareholders of BDB has any interest, direct or indirect in the project.
Statement by Directors
The Directors of KSSB are of the opinion that the project is in the best interest of KSSB as the project is expected to enhance the future earnings of KSSB and the BDB Group of Companies.
Yours faithfully,
For and on Behalf of the Board of Directors of
BINA DARULAMAN BERHAD
AZIZAH BINTI DATO' AHMAD, FCIS
Company Secretary
Dated this: 21 June 2006
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2007
, Bursa Malaysia Berhad. All Rights Reserved.