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OTHERS TOYO VENTURES HOLDINGS BERHAD (TVHB or THE COMPANY) - EXECUTION OF PROJECT AGREEMENTS FOR THE INVESTMENT PROJECT OF BUILDING OF SONG HAU 2 THERMAL POWER PLANT IN VIETNAM

TOYO VENTURES HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description
TOYO VENTURES HOLDINGS BERHAD (TVHB or THE COMPANY)
- EXECUTION OF PROJECT AGREEMENTS FOR THE INVESTMENT PROJECT OF BUILDING OF SONG HAU 2 THERMAL POWER PLANT IN VIETNAM

Reference is made to the Company’s announcement on 29 December 2020 on the execution of the BOT Contract and GGU, the Board of Directors of Toyo Ventures Holdings Berhad (“TVHB” or “the Company”) is pleased to announce that Song Hau 2 Power Company Limited (“the BOT Company” or “the Song Hau 2 Power”), a wholly-owned subsidiary of Toyo Ink Group Berhad (“TIGB”) had on 30 December 2020 and 31 December 2020 executed the following Project Agreements for the investment and development of “Song Hau 2 Thermal Power Plant Project” in Vietnam (“the Project”).

i) Land Lease Agreement (“LLA”) with The People’s Committee of Hau Giang Province (“Lessor”)

The LLA provide for the Lessor to lease the land where the Facility is located (“Site”) to the BOT Company for the exclusive use and access to the site in accordance with the laws of Vietnam for the lease term of 25 years. The BOT Company will be subject to a one-off rental payment for the rental of the site which is calculated in accordance to the laws of Vietnam for the whole lease term to the lessor. The one-off rental payment will be deducted from the total Cost of Compensation payable to the lessor.

ii) Shared Facilities and Services Agreement (“SFSA”) with Vietnam Oil and Gas Group (“PVN”)

The SFSA provides for the sharing of the common infrastructure facilities and O&M services cost for the coal fired thermal power plant in Song Hau Power Generation Centre, Hau Giang Province, Vietnam. The common infrastructure facilities included access road, common ports, terminals, water supply system, switchyard and others shared facilities which will be entirely owned by PVN and is responsible for the operation and maintenance of these shared facilities.

None of the directors, major shareholders of the Company and/or any of the persons connected with them, have any interest, whether direct and/or indirect, in the Project.

TVHB will make the necessary announcement on the progress of the Project to Bursa Securities when there are material developments in relation to the Project.

This announcement is dated 31 December 2020.






Announcement Info

Company Name TOYO VENTURES HOLDINGS BERHAD
Stock Name TOYOVEN
Date Announced 31 Dec 2020
Category General Announcement for PLC
Reference Number GA1-30122020-00055




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