PETALING JAYA: DKLS Industries Bhd’s wholly owned subsidiary DKLS Construction Sdn Bhd (DCSB) has accepted a letter of award from the Agriculture and Agro-based Industry Ministry for the appointment of DCSB as the contractor for the Air Jeniang Transfer Scheme Project, phase one in Kedah.
This award is subject to the execution of a definitive contract between the ministry and DCSB in due course.
“The tenure of the contract is for two years from May 14, 2018 to May 13, 2020 and is valued at RM101.82mil. DCSB is expected to take possession of the site on May 14, 2018,” said DKLS in a filing with Bursa Malaysia.
The contract will not have any effect on the share capital and shareholding structure of DKLS. The contract, however, is expected to contribute positively to the earnings per share and net assets per share of DKLS for the financial years ending Dec 31, 2018 onwards until the expiry of the contract.
“The board of directors, after due consideration, is of the opinion that the contract is in the best interest of the DKLS Group. The contract is being entered into in the ordinary course of business and is not subject to shareholders approval,” said DKLS.
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