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has entered into a term sheet for the proposed acquisition of a 51% stake in a new special purpose vehicle (SPV) to undertake solar renewable energy projects in Malaysia.
The identified business and identified assets of Solar Bina Engineering Sdn Bhd valued at RM41.5mil, will be injected into the target company by Eric Lee Seng Chi, the sole shareholder and managing director of Solar Bina.
According to the filing with Bursa Malaysia, Solar Bina is currently involved in the provision of implementation of solar photovoltaic projects for residential, commercial and industrial properties and large scale solar PV plants.
This includes the supply and installation of solar mounting system and other engineering works involving civil, structural, mechanical and electrical engineering works.
RLE s MD Wan Hassan says Petroliam Nasional Bhd has signalled that it was investing some RM40bil to RM55bil into capital expenditure (capex) over the next five years.“This development is indeed a good sign for us, ” he says
THE continued rise in Brent Crude Oil prices is likely to restore and increase the fortunes of some companies operating in the oil and gas (O&G) space.
Reservoir Link Energy (RLE) Bhd which was listed on the Ace Market of Bursa Malaysia on July 15 last year is poised to also be a beneficiary of strong oil prices.
Executive director Thien Chiet Chai tells StarBizWeek that the journey of taking the company public was a long one.
In a filing with with Bursa Malaysia, RLEB said there were no comparative figures for the preceding quarter and previous year’s corresponding period, as this was the fourth interim financial report on the consolidated results announced by the company, in compliance with the ACE Market listing requirements of the local bourse. (RLEB) reported a net profit of RM7.52mil for its fourth quarter ended Dec 31,2020, on revenue of RM22.08mil.
In a filing with with Bursa Malaysia, RLEB said there were no comparative figures for the preceding quarter and previous year’s corresponding period, as this was the fourth interim financial report on the consolidated results announced by the company, in compliance with the ACE Market listing requirements of the local bourse.
KUALA LUMPUR: There is a long list of stocks to watch for on Monday following the announcement of corporate earnings and activities in the previous week, according to JF Apex Research.
Hai-O’s net profit grew 41.5% year-on-year to RM10.35 million in its 2QFY21 from RM7.32 million last year, thanks to higher sales from its multi-level marketing division.
NTPM returned to the black in the second quarter ended Oct 30, 2020 with a net profit of RM13.74 million from a net loss of RM1.36 million a year earlier.
Reservoir Link Energy has bagged a contract worth US$11.5 million (RM46.3 million) for the provision of perforation and wash for abandonment and decommissioning of Chinguetti and Banda Fields, offshore Mauritania.