Straits Energy Resources Bhd announced that its 70%-owned subsidiary Straits CommNet Solutions Sdn Bhd (SCS) had accepted Letter of Award (LOA) today from Puncabahan Sdn Bhd with respect to RM40.7 million job for Pusat Perubatan Universiti Kebangsaan Malaysia (PPUKM).
In a Bursa filing today (Jan 8), the LOA dated 8 January 2024, was for the construction of additional space and upgrading of the emergency medical department (design and build) for Hospital Canselor Tuanku Muhriz, PPUKM.
“For avoidance of doubt, Puncabahan has been awarded with this project (the main contract) by Jabatan Kerja Raya (JKR) and Puncabahan being the main contractor is embarking on a journey together with SCS to contribute to the development of Hospital Canselor Tuanku Muhriz, PPUKM.
“This project involves upgrading work of the hospital emergency medical department including electrical works, ICT works and smart building system,” it said.
The project shall commence on Jan 8, 2024, to be completed by Sept 23, 2026, with the total duration of 140 weeks.
The Liquidated Ascertained Damages (LAD) will be in a manner consistent with the corresponding provisions of the main contract, it said.
Straits Energy said the acceptance of the LOA is in line with its strategy to broaden its business network and further escalate its revenue stream.
SCS is principally involved in designing, developing, researching and handling all types of telecommunication products and provide a broad range of network development services while Puncabahan is principally involved in the business as contractors and builders.
“In addition, this will also allow more strategic collaborations to be carried out with synergistic partners,” it added.
The group also said that the LOA is expected to contribute positively towards the future earnings for the financial year ending 31 December 2024 and the financial years thereafter for the duration of the LOA.
“The acceptance of the LOA is not subject to the approval of the shareholders of Straits Energy or any relevant regulatory authorities.”
