The engineering, procurement, construction and commissioning contract from Kencana Heathcare Sdn Bhd has a minimum duration of 10 years and may be mutually extended by another five years, it said.
"(The amount of RM80 million) is the maximum purchasing budget for all equipment to be supplied on capital equipment lease concession basis,” SCIB said in a filing with Bursa Malaysia today.
The scope of work includes sourcing and negotiation of all medical equipment based on the supply list to be provided by KHSB and endorsed by the operator, the National Heart Institute (IJN), it said.
Among others, SCIB is required to provide comprehensive maintenance for 10 years starting from the date of installation, acceptance of supply or commissioning of the equipment.
"Any profits attributable to the group would be realised in stages over the tenure of the contract based on the progress of the project. The contract secured is expected to contribute positively to SCIB Group’s future earnings over the duration of the contract,” it added.
The contract is not subject to the approval of the shareholders and/or any regulatory authorities.