Exsim Hospitality Berhad (formerly known as Pan Malaysia Berhad) via its subsidiary Exsim Concepto Sdn. Bhd. has accepted a work order issued by Intim Reno Sdn. Bhd. for renovation works of offices located at Tower D, Exsim Tower, Millerz Square @ Old Klang Road, Megan Legasi, worth RM20.9 million.

The overall completion for the sub-Contract works is for three months commencing from the date of WO while the defect liability period is six months from the completion date.

The acceptance of the WO by Exsim to undertake the sub-contract works is expected to contribute positively to the net assets per share, earnings per share and gearing of the company throughout the duration of the sub-contract works. The company does not foresee any exceptional risk other than the normal operational risks associated with the WO and/or the sub-contract Works.

Nevertheless, Exsim said it will take the necessary steps to mitigate the risks as and when they occur.