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 18 March 2026 accepted the Letter of Award from I-Ilham Corporation Sdn Bhd dated 17 March 2026 as sub-contractor for the water supply project at Kawasan Nanga Merit, Kawasan Kapit, Sarawak as part of the Sarawak Water Supply Grid Programme for a contract sum of RM37,874,130.20 ("Sub-Contract Works"). 

DETAILS OF THE SUB-CONTRACT WORKS

The Sub-Contract Works is for a contract duration of 18 months while the scope of work comprises of construction of a water treatment plant together with associated pipeworks.

Along with the contract/works announced on 16 March 2026, JAKS Sdn Bhd has secured approximately RM45.0 million in contract value for the year 2026.

FINANCIAL EFFECTS

The Sub-Contract 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 Sub-Contract Works will not have effect on the share capital and shareholding structure of JRB.

RISK FACTORS

The risks associated with the Sub-Contract 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 Sub-Contract Works.

DIRECTORS' STATEMENT

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

This announcement is dated 18 March 2026.