1. INTRODUCTION
The Board of Directors of Kee Ming ("Board") wishes to announce that its wholly-owned subsidiary, Kee Ming Electrical Sdn. Bhd. ("KME"), has on 3 April 2026 accepted a letter of award ("LOA") to undertake subcontract works for electrical and commissioning works at a hyperscale data centre project located in Elmina Business Park 1A ("Project"), with a subcontract sum of RM6.70 million.
The LOA was awarded to KME by a third-party contractor ("Contractor"), which is principally involved in providing integrated mechanical and electrical (M&E) solutions, focusing on electrical systems, heating, ventilation and air conditioning (HVAC) cooling, and energy optimisation, with strong expertise in data centre infrastructure including power reliability, cooling systems and turnkey engineering, procurement and construction (EPC) delivery for mission-critical facilities.
2. SALIENT TERMS OF THE LOA
(a) The subcontract works relate to the fit-out, supply and installation of electrical and commissioning & testing works for the installation of data centre halls 1 and 3, including logistics for the Project ("Subcontract Works").
(b) The subcontract sum for the Subcontract Works is RM6.70 million on a fixed lump sum basis, which includes staffing costs, site office costs and all incidental works and services necessary to support the construction of the Project.
(c) The Subcontract Works are expected to be completed by 31 December 2026, in accordance with the project schedule and construction schedule.
(d) The Subcontract Works will be administered and supervised by the Contractor throughout the duration of the Subcontract Works.
(e) Pursuant to the LOA, KME is required to submit the construction schedule incorporating all activities involved in the construction, installation, testing and commissioning of the Subcontract Works, as well as the project execution plan, to the Contractor for approval within 14 days from the receipt of the LOA.
(f) KME shall provide a performance bond equivalent to 10% of the subcontract sum amounting to RM0.67 million, within 7 days of the date of the LOA as security for the timely and proper performance of the Subcontract Works.
3. FINANCIAL EFFECTS
The LOA will not have any effect on the issued share capital or substantial shareholders' shareholdings of the Company. Barring any unforeseen circumstances, the Subcontract Works are expected to contribute positively to the earnings and net assets of the Company for the financial year ending 31 March 2027.
4. RISK FACTORS
The risks associated with the Subcontract Works include, but are not limited to, execution risks, project delays, cost overruns, as well as changes in economic, regulatory and operational conditions.
Nevertheless, the Board believes that the experience and expertise of the Company's management team will enable effective management and mitigation of these risks. The Company will also put in place appropriate internal controls and project management measures to monitor the progress of the Subcontract Works.
5. APPROVAL REQUIRED
The LOA is not subject to the approval of shareholders of the Company and/or any relevant regulatory authorities.
6. INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED TO THEM
None of the Directors, major shareholders of the Company and/or persons connected with them have any interest, whether direct or indirect, in the LOA.
7. STATEMENT BY THE BOARD OF DIRECTORS
The Board is of the opinion that the acceptance of the LOA for the Subcontract Works is in the best interest of the Company.
TA Securities Holdings Berhad ("TA Securities"), being the Sponsor, was responsible for the admission of the Company to the ACE Market of Bursa Malaysia Securities Berhad on 12 February 2026. TA Securities assumes no responsibility for the contents of this announcement.
This announcement is dated 3 April 2026.