Introduction

Reference is made to the Company’s announcement dated 12 April 2018 in relation to the appointment of its associate company, HSS Integrated Sdn Bhd ("HSSI") as the Independent Consultant Engineer for “Projek Mass Rapid Transit Lembah Kelang : Laluan 3, Circle Line” (“Contract”).

Termination

The Company wishes to announce that HSSI has on 7 June 2018 received a 30 days written notice from Mass Rapid Transit Corporation Sdn Bhd terminating the Contract following Government’s decision not to proceed with the “Projek Mass Rapid Transit Lembah Kelang : Laluan 3, Circle Line”.

Financial Effects

The decision is not expected to have any significant impact on the operations and financials of the Company and its group given that only preliminary works have commenced this far, which will be compensated for in accordance with the terms and conditions of the Contract.  

The decision will not have any impact on the share capital and/or shareholding structure of the Company.

Risk Factors

The Board of Directors does not envisage any specific risk to be associated with the termination of the Contract.

Directors’ and/or major shareholders’ interests

None of the Directors and/ or Major Shareholders of the Company and persons connected to them has any interest, direct or indirect, in the Contract.

This announcement is dated 7 June 2018.