Minetech Re­sources ac­cepts job from Ga­muda

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: Minetech Re­sources Bhd’s (MRB) wholly owned sub­sidiary Minetech Con­struc­tion Sdn Bhd (MCSB) yes­ter­day ac­cepted a let­ter of award for a RM8.55 mil­lion con­tract from Ga­muda En­gi­neer­ing Sdn Bhd.

Ga­muda En­gi­neer­ing ap­pointed MCSB as the sub-con­trac­tor to per­form re­in­forced con­crete struc­ture and as­so­ci­ated works for the pro­posed de­vel­op­ment of 714 units of Rumah Se­lan­gorku.

The works of the con­tract will be car­ried out and com­pleted in 10 months from Aug 18, 2016.

“The con­tract is ex­pected to con­trib­ute pos­i­tively to the fu­ture earn­ings and net as­sets per shares of MRB Group. The con­tract will not have any ef­fect on the share cap­i­tal and sub­stan­tial share­hold­ers’ share­hold­ing of MRB,” MRB said in a stock ex­change fil­ing.

The risk fac­tors af­fect­ing the con­tract in­clude, but are not limited to, ex­e­cu­tion risks such as avail­abil­ity of skilled man­power and gen­eral busi­ness risks.

MRB Group’s man­age­ment has the ex­pe­ri­ence and ex­per­tise to un­der­take such a project and the board be­lieves that the group is able to mit­i­gate any of the afore­said risk fac­tors, it said.

“The board of di­rec­tors, af­ter con­sid­er­ing amongst oth­ers, the po­ten­tial fi­nan­cial ben­e­fits aris­ing from the im­ple­men­ta­tion of the con­tract, is of the opinion that the ac­cep­tance of the con­tract is in the best in­ter­est of MRB Group.”

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