General announcement
OTHERS
EXTENSION OF CONCESSION FOR MAINTENANCE OF THE PENINSULAR FEDERAL ROAD
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Reference is made to the Company's announcement on 14 March 2016 on the extension of concession for a further period of 10 years by the Government of Malaysia (“Government”), for maintenance of Federal Roads in Peninsular Malaysia (“Concession”) by Roadcare (M) Sdn Bhd (“Roadcare”), a subsidiary of the Company, comprising the following:
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an interim period of 2 years from 17 February 2016 till 16 February 2018 (“Interim Period”) based on the same terms and conditions of the existing concession; and
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8 years concession from the expiry of the Interim Period, from 17 February 2018 till 16 February 2026 based on Performance Based Contract (“PBC”) model.
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Following the expiration of the Interim Period of 2 years on 16 February 2018, Roadcare has entered into a Supplemental Interim Agreement with the Government for a further extension of the Interim Period for a further period of 3 months which shall expire on 16 May 2018.
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The Supplemental Interim Agreement shall automatically be terminated upon the signing of new concession agreement with the Government.
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GA1-26022018-00104