SOLAR DISTRICT COOLING GROUP BERHAD SECURES TWO LOA WORTH RM8.13 MILLION

Contracts Include Building Automation System and Extra Low Voltage & Information and Communications Technology Services for a Hospital Project

KUALA LUMPUR, 18 SEPTEMBER 2024 – Solar District Cooling Group Berhad ("SDCG") is pleased to announce that they have accepted two letters of award from Mitrajaya Construction Sdn Bhd for the sub-contract works for one block of 11-storey hospital for Avisena Healthcare Sdn Bhd in Seksyen 14, Shah Alam, valued at a total of RM8.13 million (including Sale and Service tax).

SDCG and its subsidiaries (“Group”) are principally involved in the provision and maintenance of BMS, solar thermal systems and energy saving services. The Group has a proven track record of enhancing energy efficiency across healthcare, hospitality and industrial sectors. SDCG Group is involved in providing energy performance services to the concession companies that are providing hospital support services for public hospitals. The concessionaires engaged SDCG Group as a subcontractor to carry out energy efficiency work related to the installation of hybrid solar thermal hot water system, which sometimes also include retrofitting of fluorescent lighting of LED lighting.

The sub-contract works from these two letters of awards covers supply, delivery, installation, testing, commissioning and maintenance of Building Automation System (“BAS”) and supply, delivery, installation, testing, commissioning and maintenance of Extra Low Voltage (“ELV”) and Information Communications Technology (“ICT”) services (collectively known as Sub-Contract Works”). The Sub-Contract Works is expected to be completed by May 2027.

Together, these contracts underscore SDCG’s strength in delivering systems integration of building facilities to provide automation, energy saving services solutions, particularly in the healthcare sector, where efficiency and reliability are paramount.

Managing Director of SDCG, Mr. Edison Kong commented, " We are pleased to be awarded these projects, which reflect our commitment to providing solutions that meet the needs of our clients, particularly in the healthcare sector. We appreciate the trust placed in us by Mitrajaya Construction Sdn Bhd, with whom we have built a strong 13-year relationship. We are committed to continuing this partnership by delivering high-quality BAS and ELV & ICT services for this important project. In addition to these projects, we offer a range of services including solar thermal systems and energy saving services solutions across industries like healthcare, hospitality, and industrial.”

He also added, “The proceeds from our upcoming Initial Public Offering (“IPO”), expected to raise RM45.09 million, will be used to expand our headquarters, support new projects, purchase materials, and invest in equipment and ICT services, enabling us to further enhance our capabilities and continue delivering sustainable solutions.”

SDCG recently announced that its IPO for the Malaysian public has been oversubscribed by 144.08 times, in conjunction with their listing on the ACE Market of Bursa Malaysia Securities Berhad on 19 September 2024.