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OTHERS KEJURUTERAAN ASASTERA BERHAD ("KAB" OR "THE COMPANY") - THREE NEW SOLAR SYSTEMS PROJECTS AWARDED TO THE INDIRECT SUBSIDIARIES OF KAB.

KEJURUTERAAN ASASTERA BERHAD

Type Announcement
Subject OTHERS
Description
KEJURUTERAAN ASASTERA BERHAD ("KAB" OR "THE COMPANY")
- THREE NEW SOLAR SYSTEMS PROJECTS AWARDED TO THE INDIRECT SUBSIDIARIES OF KAB.

The Board of Directors of KAB is pleased to announce that KAB Gree Solar Thai Co., Ltd. (“KABGST”) and Energy Optimisation (Thailand) Co., Ltd. (“EOT”), indirect subsidiaries of KAB had secured three (3) new projects for Grid Connected Photovoltaic (“GCPV”) solar systems with an estimated aggregate capacity of 4,537 kilowatt-peak in Thailand through six (6) Power Purchase Agreements (“PPA”) to be entered by the indirect subsidiaries of KAB with Aapico Ayutthaya Group of Companies (“Ayutthaya”), Great Glove (Thailand) Co., Ltd. and Volcano Tec Thailand Co., Ltd. with total estimated value of RM55,718,477.00.

The details of the three projects were as follows:-                       

Subsidiaries of KAB

Client

Project details

Location

Duration

KABGST

Ayutthaya, which comprises of four subsidiary companies:

  1. Aapico Hitech Public Company Limited
  2. Aapico Hitech Parts Company Limited
  3. Aapico Hitech Tooling Company Limited
  4. Able Sanoh Industries (1996) Company Limited
  1. Four PPAs would be signed
  2. KABGST shall procure, deliver and install a GCPV solar system with an installed capacity of 3,376 kilowatt-peak for the industrial plants owned by the four subsidiaries.

99, 99/2, 99/1, 98 Moo 1 Nikom Utsahakam Hitech, Ban Len, Bang-pa-in, Phranakorn Sri Ayutthaya, Thailand

15 years from the date of Commercial Operation Date (“COD”)

EOT

Great Glove (Thailand) Co., Ltd.

  1. Letter of Award had been accepted by EOT on 11 November 2021
  2. PPA would be signed
  3. EOT shall procure, deliver and install a GCPV solar system with an estimated capacity of 610 kilowatt-peak.
  4. Expected COD will be commenced ten (10) months from the date of signing of the PPA.

180/3, Moo 7, Srisoontorn Road, Tambon Srisoontorn, Amphur Thalang, Phuket 83110, Thailand

20 years from the date of COD

EOT/KABGST

Volcano Tec Thailand Co., Ltd.

  1. Principal Terms Sheet had been entered on 10 September 2021
  2. PPA would be signed
  3. KABGST shall procure, deliver and install a GCPV solar system with an estimated capacity of 551 kilowatt-peak in the Volcano Tec Thailand Co., Ltd.’s property.
  4. The project is expected to be completed within twelve (12) months from the date when all approvals for KABGST and Volcano Tec Thailand Co., Ltd. have been obtained.

No. 7/298 Moo. 6, Amata City Industrial Estate, Mabyangporn Sub district, Pluak Daeng District, Rayong Province, Thailand

20 years from the date of COD

The projects 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 projects.

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

This announcement is dated 18 November 2021.




Please refer attachment below.



Announcement Info

Company Name KEJURUTERAAN ASASTERA BERHAD
Stock Name KAB
Date Announced 18 Nov 2021
Category General Announcement for PLC
Reference Number GA1-15112021-00091




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