BURSA ANNOUNCEMENTS

1. INTRODUCTION

Pursuant to Paragraph 9.03 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Company is pleased to announce that the Company had on 16 December 2021 received a letter of award dated 14 December 2021 from Pengurusan Air Selangor Sdn. Bhd. [Registration No. 201401006213 (1082296-U)] for the proposed development of Sg. Rasau water treatment plant and water supply scheme (Phase 1), Selangor Darul Ehsan Package 2 – Design and Build of Proposed Treated Water Pumping Station, Treated Water Pumping Mains to existing Bukit Lipat Kajang Reservoirs, Distribution and Associated Works at a contract sum of RM602,429,000.00 (“Contract”).

2. SALIENT TERMS OF THE LETTER OF AWARD

2.1 Scope of Works

The scope of works comprises designing and building of the proposed Rasau Treated Water Pumping Station, Treated Water Pumping Mains to existing Bukit Lipat Kajang Reservoirs, Distribution and Associated Works including civil, structural and building works, pumping plant mechanical works, electrical works, instrumentation, controls and automation (ICA) works and building services (“Works”).

2.2 Contract Period

The date of the site possession shall be on 29 December 2021. The completion date for the Works shall be on 31 December 2024 i.e. 36 months from the date of the possession of the site.

2.3 Contract Sum

The contract sum for the Works is RM602,429,000.00.

3. EFFECTS OF THE LETTER OF AWARD

The Contract is made in the ordinary course of business. The Contract is expected to contribute positively to TCB group’s earnings and net assets for the duration of the Contract.

4. RISK FACTORS

The risks associated with the Contract include fluctuation in foreign currency against Ringgit Malaysia which will affect the cost of imported materials and equipment, fluctuation in prices of construction materials, the current tight labour market situation and potential future lockdowns due to the pandemic delaying work at site.

5. DIRECTORS’ AND MAJOR SHAREHOLDER’S INTERESTS

None of the directors and major shareholders of the Company as well as persons connected with them have any interest, direct and/or indirect in the Contract.

6. DIRECTORS’ STATEMENT

The directors, after having considered the Contract, are of the opinion that the Contract is in the best interest of TCB group.

7. APPROVALS REQUIRED

The Contract does not require the approval of TCB’s shareholders or any relevant authorities.

This announcement is dated 16 December 2021.