1. Introduction

Leform wishes to announce that LF Engineering Sdn Bhd (“LF Engineering”), a 60%-owned subsidiary company of Leform, had on 19 December 2022, accepted the Letter of Acceptance from Ganda Imbuhan Sdn Bhd (the “Subcontract”) for the appointment as subcontractor to supply and install guardrails for Section 6 (Kapar Interchange to Assam Jawa Interchange) of West Coast Expressway (the “Project”).

2. Information on Ganda Imbuhan Sdn Bhd

Ganda Imbuhan Sdn Bhd is a private limited company incorporated in Malaysia and having its registered address at 25-2, Jalan PJU 1/41, Dataran Prima, Petaling Jaya, 47301 Petaling Jaya, Selangor. Ganda Imbuhan Sdn Bhd is principally involved in building, civil construction and related business. Ganda Imbuhan Sdn Bhd was appointed as one of the contractors for the construction of Section 6 (Kapar Interchange to Assam Jawa Interchange) of West Coast Expressway.

3. Information on the Subcontract

The sum awarded to LF Engineering for the Subcontract is RM10,051,350.00 and is expected to be completed by 30 June 2023.

4. Financial Effects

The Subcontract is expected to contribute positively to the revenue, earnings and net assets of Leform and its subsidiaries (“Leform Group”) up to the financial year ending 31 December 2023.   

The Subcontract will not have any impact on the share capital and/or shareholding structure of Leform.

5. Risk Factors

The risk factor affecting the Subcontract include, but not limited to the execution risk, such as dependency on the schedule of the implementation and progress of other sub-contractors in relation to the Project. Nonetheless, LF Engineering has, throughout the years, established its track record and expertise in undertaking such projects. As such, Leform believes that LF Engineering is able to take necessary steps to mitigate the aforesaid risks based on its past experience and expertise.

6. Approval Required

The Subcontract is not subject to the approval of shareholders of Leform or any other authorities.

7. Directors’ and/or Major Shareholders’ Interests and Persons Connected to them

None of the Directors and/ or major shareholders of Leform and persons connected to them has any interest, direct or indirect, in the Subcontract.

This announcement is dated 19 December 2022.