INTRODUCTION

The Board of Directors of JAKS Resources Berhad ("JRB" or the "Company") is pleased to announce that its wholly owned subsidiary, JAKS  Sdn Bhd has on 16 March 2026 accepted the Letter of Award from Techkem Utilities Sdn Bhd dated 16 March 2026 on the contract for the rehabilitation of flocculation, sedimentation and filtration systems, replacement of related mechanical & electrical equipment, upgrading of the Scada System and other associated works at Sg. Batu Water Treatment Plant for Pengurusan Air Selangor Sdn Bhd  for a contract sum of RM7,042,000.00 ("Works"). 

DETAILS OF THE WORKS

The Works is for a contract duration of 15 months with expected completion on first half of 2027. The scope of works comprises the supply, delivery, installation, testing and commissioning of the mechanical and electrical works at the Sg. Batu Water Treatment Plant.

FINANCIAL EFFECTS

The Works is expected to contribute positively to the earnings and net assets of JRB Group for the financial years ending 31 December 2026 and 2027. The Contract will not have effect on the share capital and shareholding structure of JRB.

RISK FACTORS

The risks associated with the Works are normal operational risks, which can be mitigated through JRB Group's system of project management controls.

DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS

None of the Directors and/or major shareholders or persons connected to them have any interest, directly or indirectly interest in the Works.

DIRECTORS' STATEMENT

The Board of Directors of JRB is of the opinion that the acceptance of the Works is in the best interest of JRB Group.

This announcement is dated 16 March 2026.