The Board of Directors of MRB (“Board”) wishes to announce that Minetech Construction Sdn Bhd [Registration No. 198901007269 (184572-W)] ("MCSB"), a wholly-owned subsidiary of MRB has on 22 April 2020 received a Letter of Intent from Bumimaju MTE Engineering Sdn Bhd [Registration No. 200501014055 (691102-W)] appointing MCSB as a Contractor to undertake civil works related to Pipeline Laying Project in Hulu Grik, Perak Darul Ridzuan (“Project”).
The Project is expected to take approximately 12 months from the date of securing the site, whilst the terms and conditions of the Project is to be finalized within 6 months’ time.
Financial Effects The Project is expected to contribute positively to the revenue, earnings and net assets of MRB Group for financial year ending 31 March 2021.
The Project will not have any impact on the share capital and/or shareholding structure of MRB.
Risk Factors The Project is subject to normal business risks such as increase in cost due to any escalation of material costs and availability of skilled manpower. MRB Group management would put in place control measures and operational procedures to reduce the impact or likelihood of such events. The Board believes that the Group is able to mitigate any of the aforesaid risk factors.
Directors’ and/or major shareholders’ interests None of the Directors and/ or Major Shareholders of MRB and/or persons connected to them has any interest, direct or indirect, in the Project.
Directors’ Statement The Board of Directors, after considering amongst others, the potential financial benefits arising from the Project, is of the opinion that the acceptance of the Project is in the best interest of MRB Group.
Hahaha funny . Who is behind minetec it is not any Tom dick Harry . Serba boss ok . I think more goodies to come this is just starting la . Last time kpower only 40 sen scib only 50++ Sen silly to trade for just 10/20 Sen that time . Not going to make same mistake w minetec
I agree with you thesteward. I believe more projects to be injected in Minetec. Look at SCIB and Kpower dude. They are doing the same. Same pattern. Oh man, I failed to secure at the lower price T_T
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Looiks
5,493 posts
Posted by Looiks > 2020-04-22 11:20 | Report Abuse
hehehe.........27.5 gone?