News

Extension Of Time For Package 12 Daerah Hulu Langat And Kuala Lumpur (Contract) Undertaken By Smartpipe Technology Sdn Bhd ("SPT") An Indirect 60% Owned Subsidiary Of Kumpulan Perangsang Selangor Berhad ("KPS" Or "The Company")

BackMar 06, 2020
Type Announcement
Subject OTHERS
Description

EXTENSION OF TIME FOR PACKAGE 12 DAERAH HULU LANGAT AND KUALA LUMPUR (CONTRACT) UNDERTAKEN BY SMARTPIPE TECHNOLOGY SDN BHD ("SPT") AN INDIRECT 60% OWNED SUBSIDIARY OF KUMPULAN PERANGSANG SELANGOR BERHAD ("KPS" or "the Company")

1. INTRODUCTION

 

Our announcement made on 2 July 2018 in relation to the Contract from Air Selangor, a wholly-owned subsidiary of Kumpulan Darul Ehsan Berhad (as defined in the earlier announcements) refers.

 

Unless otherwise stated, words and phrases used in this announcement shall have the same meanings as defined in the aforesaid announcement.

 

2. UPDATE ON THE CONTRACT

 

Pursuant to Paragraph 9.19(47)(a) of Bursa Malaysia Securities Berhad Main Market Listing Requirements, the Board of Directors of KPS wishes to update the status of Contract for the 7 part/section of works based on location as follows:

 

No

Part/Section of Works

Original Completion Date

Extension of Time

Remarks

1.

Jalan Cheras – Kajang

8 October 2019

10 September 2020

Delay in obtaining permit(s) approval from relevant authorities

2.

Jalan Hulu Langat

8 October 2019

2 July 2020

Delay in obtaining permit(s) approval from relevant authorities

3.

Pumping Main Taman Segar

8 March 2019

19 July 2019*

Delay in obtaining permit(s) approval from relevant authorities

4.

Pumping Main Bangsar Ville

8 October 2019

             *

Pipeline re-alignement and delay in obtaining permit(s) approval from relevant authorities. Work has yet to commence.

5.

Jalan Jintan Taman Supreme

8 March 2019

26 September 2019*

Pipeline design counter proposal and delay in obtaining permit(s) approval from relevant authorities

6.

Pumping Main Sri Hartamas

8 October 2019

1 July 2020

Pipeline re-alignment and delay in obtaining permit(s) approval from relevant authorities

7.

Kg Seri Delima

8 March 2019

10 July 2019*

Delay in obtaining permit(s) approval from relevant authorities

*Pending confirmation and approval of new EOT date

 

Save for the above, there are no material changes to the terms of the Contract that will have material adverse effect to KPS group.

 

The Contract will not have any effect on the share capital and shareholding structure of KPS. The Contract, however, is expected to contribute positively to the earnings and net assets of SPT for the financial year ending 31 December 2020 onwards until the completion of the Contract.

 

This announcement is dated  6 March 2020.





Announcement Info

Company Name KUMPULAN PERANGSANG SELANGOR BERHAD
Stock Name KPS
Date Announced 06 Mar 2020
Category General Announcement for PLC
Reference Number GA1-06032020-00075