Bursa Announcements News

Reference is made to the announcements made by Gamuda Berhad [Co. Regn. No. 197601003632 (29579-T)] (“Gamuda” or “Company”) on 14 August 2015, 4 August 2016, 15 March 2017, 5 September 2017, 6 September 2017, 24 September 2018, 10 September 2019, 2 March 2020 and 1 July 2020.

The terms used herein shall, unless the context otherwise state, bear the same meaning as those defined in the aforesaid announcement dated 1 July 2020.

The Company has on 1 July 2020 announced that its 60% owned subsidiary, SRS Consortium Sdn Bhd [Co. Regn. No. 201701031438 (1245608-K)] (“PDP” or “SRS”) has executed the Master Agreement (“Master Agreement”) with the State Government of Penang (“PSG”) in respect of the appointment of the PDP to manage and deliver the Penang transport master plan (“PTMP” or “Project”). Under the Master Agreement, the PDP’s responsibility is to manage the delivery of the Project within budget and time for PSG as the Project owner.

Following months of negotiation, the PSG and SRS have come to an agreement whereby SRS will undertake the development of Island A (“Project Development of Island A”) [as more particularly described in paragraph 2(a) below] through the deployment of private sector capital without any recourse to PSG.

The Company now wishes to announce that the PSG has on 25 March 2021 accepted the terms of the Project Development of Island A as contained in SRS’s proposal (“Proposal”). SRS has on the even date acknowledged the PSG’s acceptance of the Proposal.

Please refer to the attachment below for the details of the announcement.

This announcement is dated 25 March 2021.