News
HSS Engineers Berhad ("HEB" Or "The Company") Acceptance Of Letter Of Award For Civil & Structural Engineer As Lead Consultant For The Preparation, Submission And Approval For The Amendment To The Master Layout Plan (Pelan Induk Perancangan) Of Lapangan Terbang Sultan Abdul Aziz Shah And The Subsequent Infrastructure Works And Associate Works For Malaysia Airports Sdn Bhd
Type | Announcement | ||||||
Subject | OTHERS |
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Description |
HSS ENGINEERS BERHAD ("HEB" OR "THE COMPANY") ACCEPTANCE OF LETTER OF AWARD FOR CIVIL & STRUCTURAL ENGINEER AS LEAD CONSULTANT FOR THE PREPARATION, SUBMISSION AND APPROVAL FOR THE AMENDMENT TO THE MASTER LAYOUT PLAN (PELAN INDUK PERANCANGAN) OF LAPANGAN TERBANG SULTAN ABDUL AZIZ SHAH AND THE SUBSEQUENT INFRASTRUCTURE WORKS AND ASSOCIATE WORKS FOR MALAYSIA AIRPORTS SDN BHD |
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1. Introduction
HEB wishes to announce that on 18 November 2021, HSS Integrated Sdn Bhd (“HSSI”), an associate of HEB, has accepted a Letter of Award from Malaysia Airports Holdings Berhad (“Client”) confirming the appointment of HSSI as the Lead Consultant (Civil & Structural Engineer) for the Preparation, Submission and Approval for the Amendment to the Master Layout Plan (Pelan Induk Perancangan) of Lapangan Terbang Sultan Abdul Aziz Shah and the Subsequent Infrastructure Works and Associate Works for Malaysia Airports Sdn Bhd (“Contract”).
2. Information on the Contract
HSSI’ scope of services under the Contract is to act as the Lead Consultant (Civil & Structural Engineer) for the proposed amendment to the Master Layout Plan (Pelan Induk Perancangan) of Lapangan Terbang Sultan Abdul Aziz Shah and the Subsequent Infrastructure Works and Associate Works for Malaysia Airports Sdn Bhd (“Project”).
Pursuant to the exclusive teaming arrangement between HSSI and HSS Engineering Sdn Bhd (“HSSE”), a wholly-owned subsidiary of HEB, HSSI and HSSE will be collaborating exclusively to execute and complete the Contract.
3. Financial Effects
The Contract is expected to contribute positively to the revenue, earnings and net assets of HEB Group for financial years ending 31 December 2022.
The Contract will not have any impact on the share capital and/or shareholding structure of HEB.
4. Risk Factors
The risk factors affecting the Contract include, but not limited to execution risks, such as dependency on the schedule of implementation and progress of the said Project given the role of HSSI pursuant to the Contract is to provide engineering consultancy services for the Project as described above. Nonetheless, HEB Group has, throughout the years, established its track record and expertise in undertaking such projects. As such, the Board of Directors believes that HEB Group is able to mitigate the aforesaid risk factors.
5. Approval Required
The Contract, being part of the ordinary course of business of HEB Group, is not subject to the approval of shareholders of HEB or any relevant authorities.
6. Directors’ and/or major shareholders’ interests
None of the Directors and/ or Major Shareholders of HEB and persons connected to them has any interest, direct or indirect, in the Contract.
7. Directors’ Statement
The Board of Directors, after considering all the relevant factors, is of the opinion that the acceptance of the Contract is in the best interest of HEB Group.
This announcement is dated 18 November 2021. |
Announcement Info
Company Name | HSS ENGINEERS BERHAD |
Stock Name | HSSEB |
Date Announced | 18 Nov 2021 |
Category | General Announcement for PLC |
Reference Number | GA1-18112021-00038 |