Highlights:
add free Download App
premium Premium Account

Last Price Change Volume
KLSE Market Watch
Open: Day Range: Prev Close:


OTHERS KEJURUTERAAN ASASTERA BERHAD ("KAB" OR "THE COMPANY") - PRINCIPAL TERMS SHEET ENTERED INTO BY KAB SMART SOLAR ENERGY SDN. BHD. (FORMERLY KNOWN AS KAB CONSTRUCTION SDN. BHD.), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY WITH FT HOSE & HOSE SDN. BHD. AND LETTER OF AWARD BY MYDIN WHOLESALE EMPORIUM SDN. BHD.

KEJURUTERAAN ASASTERA BERHAD

Type Announcement
Subject OTHERS
Description
KEJURUTERAAN ASASTERA BERHAD ("KAB" OR "THE COMPANY")
- PRINCIPAL TERMS SHEET ENTERED INTO BY KAB SMART SOLAR ENERGY SDN. BHD. (FORMERLY KNOWN AS KAB CONSTRUCTION SDN. BHD.), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY WITH FT HOSE & HOSE SDN. BHD. AND LETTER OF AWARD BY MYDIN WHOLESALE EMPORIUM SDN. BHD.

The Board of Directors of KAB wishes to announce that its wholly-owned subsidiary, KAB Smart Solar Energy Sdn. Bhd. (Formerly known as KAB Construction Sdn. Bhd.) ("KSSE") had on 8 July 2021 and 21 July 2021 entered into Principal Terms Sheet (“PTS”) with FT Hose & Hose Sdn. Bhd. (“FT Hose”) and received a Letter of Award (“LOA”) from Mydin Wholesale Emporium Sdn. Bhd. ("Mydin") respectively to procure, deliver, install, own and operate a Grid Connected Photovoltaic (GCPV) Solar System (“System”) with an estimated total capacity of 4,971 kWp.The details of PTS and LOA entered into were as follows:-    

Client

Project details

Project Location

Duration

Mydin Wholesale Emporium Sdn. Bhd. (Company Registration No. 383995-U) ("Mydin")

KSSE shall procure, deliver, install, own and operate a Grid Connected Photovoltaic (GCPV) Solar System (“System”) with an estimated capacity of 4,000 kWp

Lot 666, Seksyen 65, Mukim Kota, Jajahan Kota Bharu, Kelantan Darul Naim, (Bandar Baru Tunjong) Malaysia

Project shall comprise of a few phases of which the overall completion shall be within 12 months from the date of execution of a definitive solar power purchase agreement between the parties for the sale and purchase of the solar energy generated by the GCPV for a period of 21 years.

FT Hose & Hose Sdn. Bhd. (Company Registration No. 989016-T) (“FT Hose”)

KSSE shall procure, deliver, install, own and operate a Grid Connected Photovoltaic (GCPV) Solar System (“System”) with an estimated capacity of 971 kWp

  1. Plant 1 (521 kWp) which is located at Kawasan Perusahaan Taman Meru 3 B Jalan Jelapang, Jelapang Ipoh 30020 Perak, Malaysia; and
  2. Plant 2 (450 kWp) which is located at Lot 1125, Jalan Jalong, Sungai Siput (U), Mukim Sungai Siput, Daerah Kuala Kangsar, Ipoh Perak Darul Ridzuan, Malaysia

Shall complete within 12 months from the date of execution of a definitive solar power purchase agreement between the parties for the sale and purchase of the solar energy generated by the GCPV for a period of 21 years.

The PTS and LOA are expected to contribute positively to the future earnings of KAB for the duration of the contracts.

There are no foreseeable significant risks other than normal business and operational risk associated with the PTS and/or the LOA.

None of the Directors and/or major shareholders of the Company or persons connected with them, have any interest, direct or indirect, in the PTS and/or the LOA.

This announcement is dated 26 July 2021.




Please refer attachment below.



Announcement Info

Company Name KEJURUTERAAN ASASTERA BERHAD
Stock Name KAB
Date Announced 26 Jul 2021
Category General Announcement for PLC
Reference Number GA1-08072021-00041




Close