INSIGHTS ANALYTICS BERHAD ("IAB" OR "THE COMPANY")
LETTER OF AWARD
PROPOSED CONSTRUCTION, DIGITALISATION, SMART SYSTEMS INTEGRATION AND EXTERNAL WORKS AT UPPER LANANG 33/11KV SUBSTATION, SIBU
1. Introduction
The Board of Directors of INSIGHTS ANALYTICS BERHAD ("IAB") is pleased to announce that its wholly owned subsidiary, INSIGHTS ANALYTICS TECHNOLOGIES SDN. BHD. (formerly known as EXXOR TECHNOLOGIES SDN. BHD.) had on 23rd April 2026, accepted a Letter of Award from Tele Kenyalang Engineering Sdn. Bhd. ("Main Contractor") to act as Sub-Contractor for the construction, digitalisation, smart systems integration and external works at Upper Lanang 33/11Kv Substation, Sibu ("the Project").
2. Details of the Letter of Award
(a) Total contract sum: RM12,235,000.00 (Ringgit Malaysia Twelve Million Two Hundred and Thirty Five Thousand Only) inclusive of all the Sales and Service Tax (SST)
(b) Date of commencement: 7th May 2026 (over a period of Sixteen (16) months)
(c) Date of completion: 6th September 2027
(d) Term of payment: Shall be made within thirty (30) days upon the issuance of every interim certificates.
(e) Insurance Policies: covered under the Owner Controlled Insurance Program (OCIP) arranged by the Main Contractor, Tele Kenyalang Engineering Sdn. Bhd., for construction all risks and third party liability, subject to OCIP terms.
(f) Defect Liability Period: Twenty-Four (24) months from the issuance of Certificate of Practical Completion.
(g) Performance Guarantee (Retention Sum): The Main Contractor shall retain 10% of the value of work done in the interim payment certificate subject to a maximum of 5% of the Contract Sum. The release of the retention money shall be by the following manner:
i) first 2.5% is to be released upon issuance of the Certificate of Practical Completion
ii) second 2.5% is to be released upon issuance of the Certificate of Making Good Defect.
3. Details of the Parties
(a) Insights Analytics Technologies Sdn. Bhd. ("IATSB")
IATSB was incorporated in Malaysia on 22nd May 2003 as a private limited company having its place of business at Parcel Lot No. D272, D273 & D274, 1st Floor, Block D, ICOM Square, Jalan Pending, 93450 Kuching, Sarawak. The principal activities include provision of water technology solutions and intelligent asset management solutions.
(b) Tele Kenyalang Engineering Sdn. Bhd. ("TKE")
TKE was incorporated in Malaysia on 12th May 1994 as a private limited company having its place of business at Ground Floor, Lot 453, Section 62, Lorong 9, Jalan Ang Cheng Ho, 93100 Kuching, Sarawak. The principal activities include construction of energy & telecommunication related products, construction works and consultancy services and food ration.
4. Risk Factors
The Project is subject to operational, construction, and regulatory risks. However, these are considered manageable within the ordinary course of business. The Board of Directors does not foresee any exceptional risk factors arising from this Project.
5. Financial Effects
The acceptance of the Letter of Award for this Project is expected to contribute positively to the Group's earnings over the contract duration, which spans from 7th May 2026 to 6th September 2027.
6. Approvals Required
The acceptance of the Letter of Award for the Project is not subject to the approval from the Company's shareholders and/or any regulatory authorities.
7. Directors' And Major Shareholders' and/or Persons Connected with Them
None of the Directors, major shareholders of IAB, or persons connected to them have any interest, direct or indirect, in the Project.
8. Statement by the Board of Directors
The Board of Directors, having considered all relevant aspects of the Project, is of the opinion that the Project is in the best interest of IAB.
This announcement is dated 23rd April 2026.
M & A Securities Sdn Bhd ("M&A"), being the Sponsor, was responsible for the admission of Insights Analytics Berhad to the ACE Market of Bursa Malaysia Securities Berhad on 27th October 2025. M&A assumes no responsibility for the contents of this announcement.