PETALING JAYA: Signature Alliance Group Bhd
(SAG) has entered into a construction works agreement (CWA) with Underwater World Langkawi Sdn Bhd to undertake the redevelopment and refurbishment works for Underwater World Langkawi in Langkawi, Kedah, for RM51.56mil.
In a filing with Bursa Malaysia, SAG said the project shall be carried out over a period of 18 months from the commencement date of Nov 13, 2026.
“There are no foreseeable significant risks associated with the CWA and/or the project during the contract period, other than the normal operational risks.
“Nevertheless, SAG will continuously monitor the project and implement appropriate measures to manage and mitigate any potential risks throughout the contract period.”
The CWA, being in the ordinary course of business of SAG Group, does not require approval of the shareholders of the company or any relevant regulatory authority, and is not conditional upon any other corporate exercises, said SAG.
Executive director and group chief executive officer Datuk Chang Chung Fei said the RM52mil contract would strengthen SAG's project portfolio, in line with its strategy to secure higher-value projects while maintaining discipline in execution and margins.
“Underwater World Langkawi is a well-known attraction, and we are pleased to be entrusted with its redevelopment and refurbishment.
“Our team has direct experience working in Langkawi through the previous completed project, and that familiarity with the local operating environment and logistics will be useful as we mobilise for this new assignment,” he said in a separate statement.
