OTHERS NOVACITYNETS, a wholly owned subsidiary of NOVA MSC, awarded an approximately RM14.8 million contract from Singapores Urban Redevelopment Authority

22 Aug 2017

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 from Urban Redevelopment Authority in Singapore to upgrade and provide maintenance support of Development Application Exchange (DAX) System from 22 August 2017 to 10 Jan 2020 or as mutually extended followed by one year warranty and two years maintenance to be renewed annually (“Contract”).

The contract sum is Singapore Dollar Four Million Seven Hundred Fifteen Thousand Five Hundred and Forty (S$4,715,540 or approximately RM14.8 million). NCN does not expect any material risk arising from the Contract other than the normal operational risk associated with the Contract. The Contract is expected to contribute positively to the result of the Group for the financial year ending 31 March 2018.

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 22th August 2017.

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