Gabungan AQRS Bhd’s a wholly-owned subsidiary Gabungan Strategik Sdn Bhd , has received and accepted a Letter of Acceptance dated 22 July 2022 (“LOA”) from Jabatan Kerja Raya Malaysia for “Pembinaan Baharu 24 Bilik Darjah Sekolah Menengah Kebangsaan Pendidikan Khas Bandar Enstek, Negeri Sembilan estimated at RM66,587,600.15
It said that the commencement of work is on 2 August 2022 and is expected to complete by 28 July 2025 (156 weeks).
It said that this LOA is expected to contribute positively to the future earnings and net assets per share of GBGAQRS for the duration of the contract. 6. Risks The Company does not foresee any exceptional risk other than the operational risk associated with the LOA.