Untitled Document

General Announcement
Reference No BD-070927-59757

Company Name	:	BINA DARULAMAN BERHAD
Stock Name	:	BDB
Date Announced	:	27/09/2007


Type	:	Announcement
Subject	:	NAIK TARAF LANSKAP DATARAN JAMUAN TEH ISTANA ANAK BUKIT, ALOR STAR, KEDAH DARUL AMAN SECARA REKA & BINA

Contents :

1.0 INTRODUCTION

Bina Darulaman Berhad (BDB) wishes to announce that its wholly owned subsidiary Kedah Sato Sdn Bhd (KSSB) had on 16th Sept 2007 received the Interim Letter of Acceptance from Kerajaan Negeri Kedah Darulaman for the project known as "naik taraf lanskap dataran jamuan teh Istana Anak Bukit, Alor Star, Kedah Darul Aman" on design and build" (The Project)

2.0 INFORMATION ON THE PROJECT

The project cost is estimated to be Ringgit Malaysia Two Million Four Hundred Thousand Only (RM2,400,000.00). The actual cost of the project is still under negotiation and will be confirmed upon the issue of the Letter of Acceptance which is expected to be received soon. Works on site however have commenced with the site possession made on 15th September 2007. The date of completion of work is 14 April 2008.

3.0 INFORMATION ON KEDAH SATO SDN BHD

Kedah Sato Sdn Bhd is a wholly owned subsidiary of BDB. It has its principal bussiness as a class A contractor specializing in building and general constructions.

4.0 SALIENT TERMS AND CONDITIONS OF THE INTERIM LETTER OF ACCEPTANCE

Without limiting to the following and subject to the Letter of Acceptance to be issued, the salient terms of the said Interim Letter of Acceptance are as follows:-

(i) The Contract Sum

The Contract Sum shall be RM2,400,000.00 (Ringgit Malaysia : Two Million Four Hundred Thousand Only)

(ii) Basic of Contract

The Contract shall be on "Design and Build"

(ii) Commencement and Completion Date

The Completion date shall be seven (7) months from the date of site possession date of 15 Sept. 2007. The Completion date shall be on 14th April 2008.

(iv) Performance Bond

KSSB is required to furnish a Performance Bond of RM120,000.00 (Ringgit Malaysia : One Hundred and Twenty Thousand) being five (5) percent of the estimated project cost.

(v) Public Liability Insurance Policy

KSSB is required to subcribe to the Issuance Policy with a minimun liability of RM200,000.00 (Ringgit Malaysia : Two Hundred Thousand Only) favouring Kerajaan Negeri Kedah Darul Aman. The policy shall be for the period 15 Sept. 2007 to 28 July 2010.

(vi) Insurance Policy for the Works

KSSB is required to subscribe to the Insurance Policy for the project from an authorized insurance company favouring Kerajaan Negeri Kedah for the sum of RM2,400,000.00 (Ringgit Malaysia : Two Million Four Hundred Thousand)

5.0 FINANCIAL EFFECT

The project is expected to contribute positively of the earnings of KSSB

6.0 DIRECTORS AND SUBSTANTIAL SHAREHOLDERS' INTEREST

None of the Directors and substantial shareholders of BDB or KSSB or person connected to the Directors and substantial shareholders has any interest, whether direct or indirect in the said contract.

7.0 STATEMENT BY DIRECTORS

The Board of Directors of BDB is of the opinion that the project is in the best interest of the company and the group.

This announcement is dated 27 September 2007