We are pleased to announce that Crest Builder Sdn Bhd, a wholly owned subsidiary of Crest Builder Holdings Berhad ("Crest Builder" or the "Company") has been awarded a contract by UDA Holdings Bhd for the Construction of Super-structure Works of a 30 storey serviced apartments with 1 level podium and 8 levels of car parks on Lot 3347 & Lot 3348, Seksyen 41, Jalan Sultan Ismail, Kuala Lumpur, Wilayah Persekutuan for a contract sum of RM197,821,175.45 (the "Contract").
2.0 Duration of The Contract
The contract period set out in the letter of award is thirty months (30) from the date of site possession which has been set out on 25 March 2015 and the Contract is expected to be completed by 24 September 2017
3.0 Share Capital and Substantial Shareholder's Shareholdings
The Contract will not have any effect on the issued and paid-up share capital of Crest Builder and on the substantial shareholder's shareholdings of Crest Builder.
4.0 Earnings and Net Tangible Assets ("NTA")
The Contract is expected to contribute positively to the earnings of the Group for the financial years ending 31 December 2015 and onwards.
5.0 Director's and Substantial Shareholder's Interest
As far as the Directors of the Company are aware, none of the Directors and/or substantial shareholders of Crest Builder and/or any persons connected to the Directors and substantial shareholders of Crest Builder have any interest, direct or indirect in the Contract.
6.0 Statement by The Directors
The Directors of the Company are of the opinion that the acceptance of the Contract is in the best interest of the Company.
This announcement is dated 18 March 2015.