The Board of Directors of Metronic Global Berhad (“the Company”) wishes to announce that Metronic Engineering Sdn. Bhd., a wholly-owned subsidiary of the Company had received the Letter of Award (“LOA”) from One Ocean Environment Sdn. Bhd. in relation to the subcontract work to supply, install, testing and commission of extra low voltage (“ELV”) system for proposed development of Sg. Rasau water supply scheme (stage 1) Selangor Darul Ehsan, Package 1- Design and Build of Proposed Rasau Intake, Raw Water Pumping Mains, Water Treatment Plant and Associated Works (“the Project”).

The tenure of the Project is from 5 February 2024 to 30 June 2025 and the total value of the Project amounts to RM9,560,000.00.  

The Board of Directors is of the view that the Project is in the best interest of the Company and is expected to contribute positively to the earnings and net assets per share of the Company for the financial year ending 30 June 2024 onwards.

The Board of Directors do not foresee any exceptional risks other than the normal operational risks associated with the Project.

None of the directors and/or major shareholders and persons connected with a director or major shareholder has any interest, direct or indirect, in the Project.

This announcement is dated 26 February 2024.