1. INTRODUCTION
The Board of Directors of Kee Ming ("Board") is pleased to announce that its wholly-owned subsidiary, Kee Ming Electrical Sdn. Bhd. ("KME"), has on 9 June 2026 accepted a letter of award ("LOA") to undertake the subcontract works for electrical engineering services in relation to a hyperscale data centre project located in Puncak Alam ("Project"), with a subcontract sum of RM21.36 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 scope of works to be undertaken by KME are the supply, delivery and installation of external utilities comprising high voltage (HV), medium voltage (MV), low voltage (LV), extra-low voltage (ELV) and telecommunication duct-related works for electrical works package ("WBS1") and electrical works for the main building ("WBS2") of the Project ("Subcontract Works"), subject to the terms and conditions of the LOA.
(b) The total subcontract sum for the Subcontract Works is RM21.36 million.
(c) The commencement date for WBS1 shall be upon the acceptance of the LOA by KME, whilst the commencement date for WBS2 shall be subject to the issuance of a Notice to Proceed by the Contractor to KME.
(d) The Subcontract Works are expected to be completed by 30 December 2026 in accordance with the project schedule.
(e) The warranty period for the Subcontract Works shall be 12 months from the date of completion of the Subcontract Works.
(f) KME shall provide a performance security equivalent to 10% of the total subcontract sum in the form of a bank guarantee within seven days from the date of acceptance of the LOA as security for the timely and proper performance of the Subcontract Works.
3. FINANCIAL EFFECTS
Barring any unforeseen circumstances, the acceptance of the LOA is expected to contribute positively to the earnings, earnings per share and net assets of the Company for the financial year ending 31 March 2027. The LOA will not have any effect on the issued share capital or substantial shareholders' shareholdings of the Company.
4. RISK FACTORS
The risks associated with the Subcontract Works are mainly operational risks, including execution risks, project delays, supply chain disruptions and other risks normally associated with M&E engineering projects.
Nevertheless, the Board believes that the Company has the requisite expertise, experience and resources to undertake and complete the Subcontract Works and will take the necessary measures to mitigate the aforesaid risks. The Company will also implement appropriate internal controls and project management measures to monitor the progress of the Subcontract Works.
5. APPROVAL REQUIRED
The acceptance of the LOA is not subject to the approval of the shareholders of the Company or any relevant governmental or regulatory authorities.
6. INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM
None of the Directors, major shareholders of the Company and/or persons connected with them has any interest, whether direct or indirect, in the LOA.
7. STATEMENT BY THE BOARD
The Board, having considered all aspects of the LOA, is of the opinion that the acceptance of the LOA is in the best interests 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 9 June 2026.