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OTHERS Extension of time for the "Tender Bekalan, Kerja Serta Perkhidmatan Bagi Projek Penyediaan Dan Penyelenggaran Point Of Presence (POP) Fasa 2: Hab Infrastruktur Gentian Optik Berhampiran Dengan Sekolah, Kawasan Perindustrian, Premis Kerajaan, Dan Komuniti Sekitarnya Oleh Kementerian Komunikasi for (Northern Region - Kedah & Perak) and (Southern Region - Negeri Sembilan, Melaka & Johor).
PRIVASIA TECHNOLOGY BERHAD
Type
Announcement
Subject
OTHERS
Description
Extension of time for the "Tender Bekalan, Kerja Serta Perkhidmatan Bagi Projek Penyediaan Dan Penyelenggaran Point Of Presence (POP) Fasa 2: Hab Infrastruktur Gentian Optik Berhampiran Dengan Sekolah, Kawasan Perindustrian, Premis Kerajaan, Dan Komuniti Sekitarnya Oleh Kementerian Komunikasi for (Northern Region - Kedah & Perak) and (Southern Region - Negeri Sembilan, Melaka & Johor).
Reference is made to the Company's announcement dated 11 October 2022 and 14 October 2022 respectively, in respect of Surat Setuju Terima (Letter of Acceptance) for "Tender Bekalan, Kerja Serta Perkhidmatan Bagi Projek Penyediaan Dan Penyelenggaran Point Of Presence (POP) Fasa 2: Hab Infrastruktur Gentian Optik Berhampiran Dengan Sekolah, Kawasan Perindustrian, Premis Kerajaan, Dan Komuniti Sekitarnya Oleh Kementerian Komunikasi ("KK") for (Northern Region - Kedah & Perak - KKMM.400-11/17/132(1)) and (Southern Region - Negeri Sembilan, Melaka & Johor - KKMM.400-11/17/132(3)) ("Project") by its wholly-owned subsidiary Privasat Sdn Bhd ("Privasat") in collaboration with APEX Communications Sdn Bhd ("APEX").
KK, Privasat and APEX entered into a Contract dated 27 February 2024 whereby on the Services for the implementation of the Point of Presence (PoP) Phase 2 in Northern and Southern region (hereinafter referred to as the "Principal Agreement").
Subsequently, the Parties had entered into the following agreements:-
A Supplementary Agreement dated 17 March 2025 to address the relocation and replacement work for the said Project for the Northern Region (hereinafter collectively referred to as the "SA 1 (Northern)");
A Supplementary Agreement No. 1 (SA 1 (Southern)) dated 4 March 2026 to vary the Principal Agreement, particularly to address the Extension of Time (EOT) granted by KK; and
A Suppementary Agreement No. 2 (SA 2 (Northern) dated 3 April 2026 to mirror SA 1 (Southern) clauses for the EOT.
Privasat has received a duly executed copy of the SA 2 (Northern) on 10 April 2026.
AMENDMENT OF SALIENT TERMS
The terms of SA 1 (Southern) and SA 2 (Northern) are as follows:-
No.
Particular
Northern Region
Southern Region
1.
Effective Date
23 October 2025
2.
Extended Contract Period
10 months extension for Installation Works from the initial 36 months period, 60 months warranty period remains the same
3.
Commencement date of the Extended Contract Period
1 November 2030 until 31st August 2031
4.
Expiry date of the Extended Contract Period
1 September 2031 or the Maintenance Expiry Date, whichever is earlier
RISK FACTORS
The Company does not foresee any exceptional risks other than execution risks, political risks, pandemic risks and country risks associated with the EOT.
FINANCIAL EFFECTS
The Contract is expected to contribute positively to the earnings, and net assets of the Company for the financial year ending 31 December 2026 and beyond. The EOT is not expected to have any material effect on the share capital and shareholding structure of PRIVASIA.
DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
None of the directors and/or major shareholders of the Company and/or persons connected with them have any interest, direct or indirect, to the EOT.
DIRECTORS' STATEMENT
The Board of Directors of the Company, after considering all the relevant factors, is of the opinion that the EOT is in the best interest of the Group.
APPROVALS REQUIRED
The EOT does not require approval from shareholders of the Company.