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| AWARD OF CONTRACT |
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| The Board of Directors of Hock Seng Lee Berhad (HSL) is pleased to announce that HSL in consortium with Matrik Bestari Sdn Bhd (“the Consortium”) has received a Letter of Acceptance from Jabatan Kerja Raya, Sarawak for the project known as “CONSTRUCTION AND COMPLETION OF AN ACCESS ROAD LINKING TECHNOLOGY PARK SAMARAHAN TO TANJONG BAKO, KUCHING” (“the Project”) at a contract sum of Ringgit Malaysia Seventy Two Million and Five Hundred Thousand only (RM72,500,000.00). The Consortium will carry out the works of the Project as an unincorporated joint venture with HSL having Ninety Percent (90%) share in the Project. The payment for the Project shall be made partly in kind and partly in cash in the ratio of 50:50. The payment in kind shall be in the form of land. The scope of works involves design and supervision, earthworks, drainage and pavement, bridges and other related works. The works of the Project will be due to be completed by December 2012. The contract is expected to contribute positively to the earnings and net assets of HSL Group for the financial years ending 2010 to 2012. None of the directors and/or major shareholders of HSL or persons connected to them have any interest, direct or indirect, in the above contract. |
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Press Release.pdf