KUALA LUMPUR (22 JUNE 2023) – Aneka Jaringan Holdings Berhad ("Aneka Jaringan" or the "Group"; Bursa: ANEKA, 0226), a basement and foundation construction specialist, is pleased to announce that the Group’s wholly-owned subsidiary, Aneka Jaringan Sdn. Bhd., has been awarded two projects by Overseas Union Garden Sdn. Bhd. (“OUGSB”) valued at a total of RM168.0 million for substructure works.

The contract value of the first project, which is to undertake substructure works for a 16-storey mall, is RM70.2 million while the contract value of the second project for substructure works of the service apartments is RM97.8 million. Both projects are located in Taman Overseas Union, Kuala Lumpur.

The projects are expected to be completed within 23 months from the date of commencement and are expected to contribute positively to the Group’s consolidated earnings and net assets for the financial years ending 31 August 2023 (“FY2023”) and 31 August 2024 (“FY2024”).

Managing Director of Aneka Jaringan, Pang Tse Fui said, “Our order book continues to grow from the pipeline of projects that we have tendered for. We previously successfully secured three new projects totalling RM46.46 million in April. We have no doubt that as the Malaysian economy continues to expand, construction activities will also continue to grow.”

“We are also currently increasing capacity in Indonesia through acquiring machinery. This will help support our operations as we grow the Group’s market presence in the country. The increased economic activities in Indonesia have also brought about many more opportunities in both the government and private sectors that we intend to follow up on.”

Separately, the Group is also pleased to announce that the first tranche comprising 46.3 million placement shares from our private placement has been successfully listed on the ACE Market of Bursa Malaysia Securities Berhad today, with the amount raised of RM7.6 million.

As of 22 June 2023, Aneka Jaringan has secured a total of RM280.2 million in new projects, of which Malaysian operations contributed RM266.5 million, with Indonesian operations contributing RM14.7 million.