Reference is made to the announcement dated 23 August 2007 in relation to the issuance of the Letter of Intent from MAF Investments Bahrain BSC (C) ("MAF” or “the Employer”) to the Company’s 50%-owned company, Cebarco-WCT W.L.L. (“CWCT”), for an initial value of BD27,000,000/= (Bahraini Dinar Twenty Seven Million Only) or equivalent to approximately RM246 million (Ringgit Two Hundred and Forty Six Million Only) ) and that the final sum shall be determined upon finalization of all matters relating to the specification of the works involved and agreement of subcontract values.
WCT Berhad is pleased to announce that CWCT has on 8 February 2010 received the duly executed contract dated 4 February 2010 (“Contract”) from the Employer for the execution and completion of the Works for a total lump sum amount of BD51,178,133/= (Bahraini Dinar Fifty One Million One Hundred and Seventy Eight Thousand One Hundred and Thirty Three Only) or equivalent to approximately RM467 million (Ringgit Four Hundred and Sixty Seven Million Only).The date of full completion and handover of the Works is 16th December 2010.
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