PETALING JAYA: ETA Group Bhd, through wholly-owned subsidiary ETA Design & Build Sdn Bhd, has entered into recurrent related party transactions (RRPT), comprising three construction agreements amounting to RM66.69mil as well as three subcontract agreements worth an aggregate subcontract value of RM63.51mil.
In a filing with Bursa Malaysia, ETA Group announced that the three design and build construction agreements were signed with ETA Industries Sdn Bhd (ETAI), and three subcontract agreements with ETA World Sdn Bhd.
The aggregate actual value of RRPTs, totalling RM130.2mil, has exceeded the estimated value stated in its circular to shareholders by 86%, the group disclosed.
“The excess is attributable to the contracts, which were procured by ETAI as developer after the issuance of the circular and awarded as a single tranche covering three projects,” it said.
The contracts are for the design and build of three industrial projects on freehold land in Kapar, Klang in Selangor comprising factories, warehouses and ancillary office accommodation, as well as refuse chambers, substations and guard houses.
The scope of the works involve the design, engineering, procurement and construction of the projects, including 14 single-storey semi-detached factories with offices, two TNB compact substation, and four single-storey semi-detached factories with a single-storey warehouse and offices.
