FAJARBARU Builder Group Bhd said in filing to Bursa Malaysia yesterday that it had won a RM69.89 million contract from Blue Archipelago Bhd. The one-year contract is for the earth, civil and infrastructure works for the first phase of an integrated tiger prawn farm in Setiu, Terengganu.
1. INTRODUCTION
The Board of Directors of Fajarbaru Builder Group Bhd ("FBG" or "the Company") wishes to announce that a wholly owned subsidiary of the Company, Fajarbaru Builder Sdn. Bhd. (Company No. 27198-T)(“FBSB”) has on 10 February 2010 received the Letter of Acceptance dated 9 February 2010 from Blue Archipelago Berhad in respect of the tender on “Package BA/WP3 Earth Works, Civil and Infrastructure Works for Cadangan Fasa 1 Ladang Akuakultur Ternakan Udang Bersepadu Di Mukim Chaluk, Daerah Setiu, Terengganu Darul Iman” (“the Project”).
2. CONTRACT VALUE
The total contract value for the Project is RM69,888,643.28 (Ringgit Malaysia Sixty Nine Million Eight Hundred Eighty Eight Thousand Six Hundred Forty Three and Cents Twenty Eight) only.
3. CONTRACT PERIOD
The Commencement Date of the works is 22/02/2010 and the Contract Period is 12 (twelve) months.
4. FINANCIAL EFFECT
The Contract will have no material effect on the share capital of FBG.
Barring unforeseen circumstances, the Contract is expected to contribute positively to the earnings and net assets of FBG group for the financial year ending 30 June 2010 and 30 June 2011.
