Bursa Announcements News

Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Gamuda Berhad (Company No. 29579-T) ("Gamuda" or "Company") wishes to announce the incorporation of SRS Consortium Sdn Bhd (Company No. 1245608-K) on 5 September 2017 as a 60% owned subsidiary of the Company.

Brief Information on SRS Consortium Sdn Bhd

SRS Consortium Sdn Bhd was incorporated as a private company limited by shares with an initial issued share capital of RM10.00 representing 10 ordinary shares which are subscribed by the following companies, namely: -

The intended principal activity of SRS Consortium Sdn Bhd is to take over the role of project delivery partner (“PDP”) from SRS Consortium (the 60 : 20 : 20 unincorporated joint venture between the Company, Ideal and LPY) subject to the approval being obtained from the Penang State Government.

The role of PDP relates to the project for:

(a)   the implementation of an alternative transport master plan comprising different public transport components in Penang Island and Seberang Perai; and

(b)   the provision of new reclamation sites.

Financial Effects

The aforesaid incorporation of SRS Consortium Sdn Bhd would not have any material effect on the earnings and/or net assets of Gamuda Group for the financial year ending 31 July 2018.

Approval Required

No shareholders’ approval is required for the said incorporation of SRS Consortium Sdn Bhd.

Directors’ and Major Shareholders’ Interests

None of the Directors and/or major shareholders of the Company and/or persons connected with them, has any interest, direct or indirect, in the said incorporation.

This announcement is dated 6 September 2017.