The Engineering , Manufacturing , Constructions , Commissioning (EMCC) services provider made the announce that the Company has on 7 June 2022, received an executed letter of award (LOA) from SCIB Properties for securing an engineering, procurement, construction and commissioning (EPCC) contract from Ennova Sdn Bhd subject to the terms and conditions as stipulated in the LOA.
The said contract which is named as Project Engineering Services for DBKL Integrated Smart Lamp Pole Replacement, within Klang Valley, Malaysia, 200 units of Pole (Monopoles). The said project is expected to commence from June 2022 and completed by May 2023. While the estimated value of the Contract is RM30,750,000.
In its official statement released, the company has expressed its optimism over the contract as “it is expected to contribute positively to SCIB Group’s future earnings as any profit attributable to the Group would be realized in stages during
the tenure and progress of the Contract.”
The statement has also made the disclaimer on the risk factors that “the contract is subject to normal business risks such as construction risk, increase in cost due to any escalation of material pricing, availability of skilled workforce, materials, contractual terms including default provision, subcontractors’ performance and health and safety on standard operational procedures.”
“However, SCIB will put in place control measures and operational procedures to mitigate the expected risks,” the statement added.
