The Board of Directors of SC Estate Builder Berhad (SCBUILD) stated that SC Estate Construction Sdn. Bhd. (SCEC) as the Land Owner and SC Estate IBS Sdn. Bhd. (SC Estate IBS) as the construction materials and industrial building system or IBS Supplier, which are wholly-owned subsidiaries of the Company, entered into a Collaboration Agreement (CA) with three other parties to build 510 units of Affordable Houses in Alor Setar, Kedah.

In a Bursa Malaysia filing today, RMM Maju Malaysia Sdn Bhd (RMM Maju) was party to the CA as the Developer, Visi Sempena Sdn. Bhd. (Visi Sempena) as the Design & Build Contractor, Anjung Meriah Sdn. Bhd. (AMSB) as the Engineering, Procurement, Construction & Commissioning or EPCC and Bumiputera Contractor for the joint venture arrangement.

SCEC was incorporated in Malaysia on 23 July 2012 as a private company limited by shares under the Companies Act, 1965. SCEC is principally involved in the business of construction, project management and construction-related industries.

SC ESTATE IBS is principally involved in the manufacture and supply of industrialized building systems.

RMM MAJU is principally involved as Developers, Builders and Contractor. The Developer is a development company, and it has the expertise in development of housing and building project and has vast experience as a developer for property development project.

The main purpose of the development which is in line with the Group's strategies and ESG initiative target to build 2,000 Megawatt to 3,000 Megawatt of Solar Power Plants for multiple effect solutions on Climate Change in Malaysia, ASEAN member countries in Asia. SCBUILD target build 2,000 units to 3,000 units Affordable Houses with Solar Power on the Roofs, 2-meter Social Distance walkway and bicycle lane with internet connectivity for multiple effects solutions on Climate Change and Coronavirus Pandemic.

To achieve these key targets as outlined under the Affordable Housing for the Rakyat in the Mid-Term Review of the Twelfth Malaysia Plan, the Group committed to building 510 units of Affordable Houses with Solar Power on the Roofs, Electric Vehicle (EV) Chargers, 2-meter Social Distance walkway and bicycle lane with internet connectivity for multiple effect solutions.

SC Estate IBS will be responsible to supply 40% of the GDC of the construction materials and Industrial Building System or IBS to the development amounting to RM84,000,000-00. SCEC as the land owner will receive land consideration of RM20,760,000-00 in this CA.

The total Gross Development Value (GDV) for the Development Project is at RM252 Million as per the CA, while the total Gross Development Cost (GDC) for the Development Project is at RM210 million which is inclusive of the Building Construction, Insurance, Professional Fees payable to the consultants for the Development Project, Relevant Authorities Charges, and shall include all other payment related to the Development as per the CA.

SC Estate IBS will be responsible to supply 40% of the GDC of the construction materials and Industrial Building System or IBS to the development amounting to RM84,000,000-00.