NOVA AWARDED RM15 MILLION CONTRACT BY PUBLIC UTILITIES BOARD IN SINGAPORE

Jun 2018 – The Board of Directors of Nova MSC Berhad is pleased to announce that the Company’s wholly owned subsidiary, novaCITYNETS Pte Ltd (“NCN”) has been awarded the tender with Public Utilities Board in Singapore for a contract sum of Singapore Dollar Five Million One Hundred Sixty Eight Thousand Nine Hundred and Seventy (S$5,168,970 or approximately RM15.4 million) (“Contract”). Under the Contract, NCN shall supply, deliver and implement a Building Information Modelling (BIM) Checking Systems for Building Plan Submission (“Project”) over about 20 months and thereafter maintain the Project for the next 20 months.

The Building Information Modelling (BIM) Checking Systems is based on Nova’s product, FORNAX ePlanCheck an Artificial Intelligence-based Automated Building Plan Checking Expert System.

The Contract will not have any effect on the share capital and shareholding structure of Nova MSC Bhd. The Contract, however, is expected to contribute positively to the result of the Group for the financial year ending 31 March 2019.

NCN does not expect any material risk arising from the Contract other than the normal operational risk associated with the Contract.

None of the directors and/or substantial shareholders of Nova MSC Berhad or persons connected to the said directors and/or substantial shareholders have any interest, direct or indirect in the new contract awarded.

This announcement is dated 8th June 2018.

About PUB Singapore

PUB is a statutory board under the Ministry of the Environment and Water Resources. It is the national water agency that manages Singapore’s water supply, water catchment and used water in an integrated way.

PUB has ensured a diversified and sustainable supply of water for Singapore with the Four National Taps (Water from Local Catchment, Imported Water, NEWater, Desalinated water).

To provide water for all, PUB calls on all to play our part to conserve water, keep our water catchments and waterways clean, and build a relationship with water so we can enjoy our water resources. If we all play our part, we can have enough water for all our needs – for industry, for living, for life.

About FORNAXePlanCheck

FORNAX ePlanCheck (AI Automated Building Plan Checking Expert System) is built on a web-based architecture based on industry open standards with interoperability in mind and support data exchange conforming to industry best practices.

The traditional checking and approval of building plan using the manual process is generally very time-consuming and inefficient. FORNAX ePlanCheck speed up the checking process by providing a system that could automatically check the “Electronic Building Models” for compliance to regulatory requirements with the help of Artificial Intelligent (AI) and Building Information Modelling (BIM) technologies. It will also help to reduce ambiguities and subjectivity in building code interpretation that could differ for different individuals.