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Variation Order to the Contract from Telekom Malaysia Berhad
Wednesday, 02 May 2012 11:00

 

General Announcement
Reference No OH-120427-BB8AC

Company Name
:
OPCOM HOLDINGS BERHAD (ACE Market)
Stock Name
:
OPCOM  
Date Announced
:
02/05/2012


Type
:
Announcement
Subject
:
OTHERS
 
Description
:
Variation Order to the Contract from Telekom Malaysia Berhad

Announcement Details/Table Section :

 


 

Introduction

On 22 April 2009, the Board of Directors of Opcom Holdings Berhad ("Opcom" or "the Company") announced the Letter of Award of RM359 million received by a subsidiary of the Company, Opcom Cables Sdn. Bhd. ("OCSB") from Telekom Malaysia Berhad ("Telekom") for the Supply, Delivery, Training and Support Services of Passive FTTH System ("Contract"). Subsequently, the Company announced the two (2) years extension of the Contract from 20 April 2011 to 19 April 2013 on 23 May 2011.

The Board of Directors of Opcom wishes to announce that OCSB has signed a RM82 million variation order to the Contract with Telekom on 2 May 2012 ("Variation Order").

Financial Effects

The Variation Order is expected to contribute positively towards Opcom's group earnings and net assets for the remaining period of the Contract which is expiring on 19 April 2013.

Risks

The risk factors which may affect the Variation Order include but not limited to ordinary business risks, competition risks, operation risks, economic risks and regulatory risks.

Directors' and Substantial Shareholders' Interest

None of the directors and substantial shareholders of the Company and/or its subsidiaries or any person connected to them has any interest, direct or indirect, in the Variation Order.

This announcement is dated 2 May 2012.