Sunmow Holdings Group Berhad announce that its JV agreement units between its subsidiary and Kemena Holding Sdn Bhd for who joined the purpose of submitting tender bid for Projek Sarawak – Sabah Link Road Fasa 2 in relation to Package 4B (Bukit Pagon to Long Luping) have received a letter of acceptance from Maltimur Aktif Unggul JV Sdn Bhd, the main contractor for the Project.
Based on the agreement, Sunmow will be the lead partner of the JV, the percentage of participation and interest of the JV Parties is SCSB : 70% and KHSB : 30%
MAUJV has been appointed by the Government of Malaysia represented by Kementerian Kerja Raya as the Design and Build Contractor to design, implement, supervise, and manage the development of an approximately 335 km new main road
known as Sarawak – Sabah Link Road (SSLR) Fasa 2 as part of the Sarawak – Sabah Link Road.
The contract sum for the Works RM1.01 billion. The date for practical completion of the Works is 48 months from the date of the LOA and the date of actual practical completion is the date certified by the client.
The parties said the project willl be funded by internally generated funds (including progress claims) and/or project financing, the exact mix of which will be decided at a later date taking into consideration the gearing level of Sunmow and its subsidiaries financing costs as well as internal cash requirements for the Group's business operations.