Acceptance of Appointment As Subcontractor From IJM Construction Sdn Bhd For The Provision Of Supply And Install Guardrails For Section 11 (Beruas Interchange To Taiping South Interchange) Of Lebuhraya Pesisiran Pantai Barat (Taiping - Banting)
| Type | Announcement |
| Subject | OTHERS |
| Description |
Leform Berhad ("Leform") - Acceptance of Appointment as Subcontractor from IJM Construction Sdn Bhd for the provision of supply and install Guardrails for Section 11 (Beruas Interchange to Taiping South Interchange) of Lebuhraya Pesisiran Pantai Barat (Taiping - Banting) |
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1. Introduction
Leform wishes to announce that LF Engineering Sdn Bhd (“LF Engineering”), a 60%-owned subsidiary company of Leform, had on 20 March 2023 accepted the Letter of Acceptance and executed the Subcontract Agreement with IJM Construction Sdn Bhd (the “Subcontract”) for the appointment as Subcontractor to supply and install guardrails for Section 11 (Beruas Interchange to Taiping South Interchange) of Lebuhraya Pesisiran Pantai Barat (Taiping - Banting) (the “Project”).
2. Information on IJM Construction Sdn Bhd
IJM Construction Sdn Bhd is a private limited company incorporated in Malaysia and having its registered address at 2nd Floor, Wisma IJM, Jalan Yong Shook Lin, 46050 Petaling Jaya, Selangor. IJM Construction Sdn Bhd is principally involved in civil and building construction and investment holding. IJM Construction Sdn Bhd is the main contractor for the construction of Section 11 (Beruas Interchange to Taiping South Interchange) of Lebuhraya Pesisiran Pantai Barat (Taiping - Banting).
3. Information on the Subcontract
The sum awarded to LF Engineering for the Subcontract is RM19,532,585.00 and is expected to be completed by 30 August 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”) for 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 factors affecting the Project include, but not limited to the execution risk, such as dependency on the schedule of the implementation and progress of other sub-contractors. Nonetheless, the LF Engineering has, throughout the years, established its track record and expertise in undertaking such projects. As such, the Board of Directors believes that LF Engineering is able to mitigate the aforesaid risk factors.
6. Approval Required
The Subcontract is not subject to the approval of shareholders of Leform or any relevant authorities.
7. Directors’ and/or major shareholders’ interests
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 20 March 2023. |
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Announcement Info
| Company Name | LEFORM BERHAD |
| Stock Name | LEFORM |
| Date Announced | 20 Mar 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-09012023-00015 |