In a statement to Bursa Malaysia yesterday, the group said it would undertake the main construction works under the project on a design-and-build basis, carried out in two phases and expected to be fully completed in two years.
It added that the award of the contracts for the project was conditional inter alia upon the successful completion of ARK’s corporate restructuring exercise, re-quotation of ARK’s shares on the Main Market of Bursa Malaysia and upliftment of ARK’s PN17 status within 120 days from the date of the agreement, and relevant approvals from the authorities/parties to commence the development of the project.
By The Star
