MINETECH RESOURCES SECURES RM16.1 MILLION CONTRACT FROM MAH SING GROUP FOR M NOVA PROJECT

Company Strengthens its Market Positioning Through New Contract Win

KUALA LUMPUR, 3 JULY 2024 - Minetech Resources Berhad ("Minetech" or the "Company"), is pleased to announce that its wholly-owned subsidiary, Minetech Construction Sdn Bhd (“MCSB”), has received a Letter of Award (“LOA”) from MyVilla Development Sdn Bhd (“MyVilla”), a subsidiary of Mah Sing Group Berhad, to upgrade and construct external roads and drainage for the M Nova project in Kuala Lumpur. The contract is valued at RM16.1 million.

The M Nova project involves the development of 2,080 apartment units across three blocks at Jalan Lingkaran Tengah II, Mukim Batu, Kuala Lumpur. The project will be executed in two phases, where Phase 1 consists of Tower A & B with 624 apartment units each, while Phase 2 shall consist of Tower C, with 832 apartment units in total.

Encik Abang Abdillah Izzarim, the Executive Chairman of Minetech expressed his enthusiasm about the new project: “We are honoured to have been awarded this contract from MyVilla Development. This project not only strengthens our partnership with Mah Sing Group but also underscores our capability in delivering high-quality construction services. We are committed to executing this project efficiently and to the highest standards, contributing positively to our financial performance and reinforcing our position in the industry.”

As at 5:00 P.M. 3 July 2024, the share price of Minetech closed at RM0.150, reflecting a market capitalisation of RM267.7 million.