The Board of Directors of Citaglobal wishes to announce that Citaglobal Land Sdn. Bhd. ("CLSB"), a wholly owned subsidiary of the Company, had on 11 September 2026 accepted a Letter of Award ("LOA") dated 20 August 2026 from Purnama Base Sdn Bhd ("PBSB") for Pembinaan Bangunan Baharu Kolej Kediaman di Institut Pendidikan Guru Kampus Bahasa Melayu, Lembah Pantai, Kuala Lumpur, on a design-and-build basis ("Project"), for a fixed lump sum of RM82,124,000.00 ("IPG Contract").
The works under the IPG Contract comprise the design, construction and completion of the new residential college and the related works stipulated under the IPG Contract and the requirements of the main contract for the Project.
The IPG Contract is for a period of 22 months and scheduled for completion on 30 June 2028, or such other revised completion date as may be determined in accordance with the terms of the IPG Contract.
The acceptance of the IPG Contract is in the ordinary course of business of CLSB.
Following the acceptance of the IPG Contract, the outstanding proforma order book of Citaglobal and its subsidiaries ("Group") as at 30 June 2026 stands at approximately RM 1.5 billion.
The IPG Contract will not have any effect on the issued share capital and the shareholdings of the substantial shareholders of the Company.
The IPG Contract is expected to contribute positively to the earnings, earnings per share and net assets of the Group during the IPG Contract period, barring any unforeseen circumstances. It is not expected to have any material effect on the gearing of the Group.
The Company does not foresee any exceptional risk other than the normal operational risks associated with the IPG Contract. Nevertheless, the Company will take the necessary steps to mitigate the risks as and when they occur.
None of the Directors and major shareholders of the Group and/or persons connected to them has any interest, whether direct or indirect, in the IPG Contract.
The Board, having considered all aspects of the IPG Contract, is of the opinion that the IPG Contract is in the best interest of the Group.
Information on the Project
The Project is a Malaysian Government development project within the education sector, implemented through Jabatan Kerja Raya Malaysia ("JKR"), involving the design and construction of a new residential college building at Institut Pendidikan Guru Kampus Bahasa Melayu, Lembah Pantai, Kuala Lumpur.
JKR is the employer under the main contract for the Project, while PBSB is the main contractor pursuant to a main contract with JKR dated 30 December 2025. PBSB has appointed CLSB as the subcontractor to undertake the design, construction and completion of the Project.
This announcement is dated 11 September 2026.