Announcements
Announcements
Date: 04 December 2017

OTHERS LETTER OF ACCEPTANCE OF OFFER FOR THE DEVELOPMENT OF LARGE SCALE SOLAR PHOTOVOLTAIC PLANT OF 30MWa.c. (43.18MWd.c.) AT EMPANGAN TERIP, NEGERI SEMBILAN


Type Announcement
Subject OTHERS
Description LETTER OF ACCEPTANCE OF OFFER FOR THE DEVELOPMENT OF LARGE SCALE SOLAR PHOTOVOLTAIC PLANT OF 30MWa.c. (43.18MWd.c.) AT EMPANGAN TERIP, NEGERI SEMBILAN

The Board of Directors of Cypark Resources Berhad ("the Company" or "CRB") wishes to announce that its wholly owned subsidiary, Cypark Renewable Energy Sdn. Bhd. ("CRE")  had on 28 November 2017 received a Letter of Acceptance of Offer from the Energy Commission ("EC") for the development of Large Scale Solar PV Plant ("LSSPV") of 30.00 MWa.c. (43.18MWd.c.) at Empangan Terip, Negeri Sembilan ("the Project') subsequent to a competitive bid process conducted by the EC.

 

The CRB Group's participation in the Project is via a consortium comprising Revenue Vantage Sdn. Bhd. and CRE (collectively referred to as "Consortium").

 

The Consortium is required to fulfill the conditions as set out in the Letter of Acceptance of Offer prior to the EC issuing the formal Letter of Award for the Project.

 

The Project is not expected to have any material impact on the earnings and net assets of the CRB Group for the financial year ending 31 October 2018. However the Project is expected to contribute positively to the future earnings of the CRB Group.

 

The Project will further strengthen the CRB Group's position as one of the Malaysia's leading integrated renewable energy developers and green engineering solutions providers. With the expected completion of the LSSPV, the CRB Group will significantly increase its renewable energy capacity.

 

None of the Directors or major shareholders of CRB and persons connected with them has any interests, direct or indirect, in the Project.

 

The announcement is dated 4 December 2017.





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