1. INTRODUCTION
The Board of Directors of AWC is pleased to announce that Qudotech had on today, 18 April 2024 accepted IJM’s LOA for plumbing works at Hospital Kapar, Selangor.

2. DETAILS OF SUB-CONTRACT
The Sub-Contract Work shall commence from 22 March 2024 and be completed by 22 May 2026.
The total contract sum for the Sub-Contract Work shall be at a lump sum fixed price of RM17,800,000.00.

3. RISK FACTORS
The Sub-Contract Work is in the ordinary course of business of Qudotech. The potential risks involved in this Sub-Contract Work are considered normal operational risks and are the same with any other works of such nature undertaken.

4. FINANCIAL EFFECTS 
The Sub-Contract is expected to contribute positively to the earnings of the AWC Group over the duration of the Sub-Contract Work.

5. INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM 
None of the Directors, major shareholders of AWC and/or persons connected with them has any interest, whether direct or indirect, in the Sub-Contract.

6. STATEMENT OF DIRECTORS
The Board of Directors of the Company is of the opinion that the acceptance of the LOA is in the ordinary course of business and is in the best interest of the Company.

This announcement is dated 18 April 2024.