OTHERS BP Energy Sdn. Bhd. to build, own and operate 5.00 MWa.c. Large Scale Solar Farm in Kunak, Sabah

BINA PURI HOLDINGS BHD

Type Announcement
Subject OTHERS
Description BP Energy Sdn. Bhd. to build, own and operate 5.00 MWa.c. Large Scale Solar Farm in Kunak, Sabah
Pursuant to the announcement dated 18 December 2017, BP Energy Sdn. Bhd. ("BPE"), a wholly-owned subsidiary of Bina Puri Holdings Bhd ("the Company"), has received a Letter of Acceptance of Offer from Suruhanjaya Tenaga ("ST") to undertake the development of 5.00 MWa.c. Large Scale Solar Photovoltaic (PV) Plant ("LSSPV Plant") in Kunak, Sabah. ("the Project")

The Company wishes to announce that by a Letter of Notification to BPE dated 16 November 2020, ST has revised the Commercial Operation Date of the LSSPV Plant to 31 December 2022.

BPE is currently in the midst of finalising the terms and conditions of the Solar Power Purchase Agreement for ST approval.

The Company will make necessary announcement(s) to Bursa Malaysia as and when there is a material development in relation to the Project.

This announcement is dated 30 November 2020.

Recently won 1.16B project. Price still below 40s. There is a Chinese saying. “Small things cannot do, Big things can do?” :)

Govt awarded NIIS to IRIS. Dnex should be awarded Silterra.

Oil is nearing US 60. The price should already move up. Then Indonesia deal. Then Silterra.
2021 a great year for Dnex,,,!!!

Indonesia deal in the pocket..?

Easy...just borrow from Chinese partner rm100m and you get the prize. They will be more than happy to lend. :)

In the latest twist of the tussle for the loss-making wafer foundry from Khazanah Nasional Bhd, sources said Dagang Nexchange Bhd (DNeX) has emerged as the frontrunner, but it is now being asked to match the bid price of Nuglobal Ventures Sdn Bhd (NGV). (File pic - The Silterra Sdn Bhd factory, Kulim.)

PETALING JAYA: The race to acquire Silterra Sdn Bhd has taken on a new course with one contender told to match the price of another bidder.

In the latest twist of the tussle for the loss-making wafer foundry from Khazanah Nasional Bhd, sources said Dagang Nexchange Bhd (DNeX) has emerged as the frontrunner, but it is now being asked to match the bid price of Nuglobal Ventures Sdn Bhd (NGV).

Khazanah had earlier opened up the bid for Silterra to foreign investors, which attracted global giants such as Taiwanese semiconductor manufacturer Foxconn and German-based semiconductor foundry X-Fab.

Foxconn was said to have ascribed an enterprise value of US$125mil, of which it would pay US$87.5mil for a 70% stake while X-Fab put in an offer of US$70mil.

NGV director Md Radzi Din previously told StarBizWeek that there is opportunity in Silterra due to the new lease of life for 200mm wafer fabs, which is within the chip maker’s manufacturing capability and beyond.NGV director Md Radzi Din previously told StarBizWeek that there is opportunity in Silterra due to the new lease of life for 200mm wafer fabs, which is within the chip maker’s manufacturing capability and beyond.

But the foreign players are now out of the picture with Khazanah deciding against the idea of selling Silterra directly to foreign owners, but only to those that have formed partnerships with local firms. This leaves DNeX and NGV as the last remaining bidders.

The major question now is, what was the price offered by NGV?

Initial reports had pegged NGV’s offer at RM273mil. However, sources said the firm had made a second offer up to the tune of RM336mil, with a request to facilitate a more flexible equity condition in the future. This also assumes all the debts and liabilities of Silterra.

It is possible that Khazanah, the vendor of Silterra, may insist on the RM336mil price tag, considering that the former is under pressure to sell the fiercely-fought-after Silterra to the highest bidder so as to avoid any concerns of favouring one party over another.

One banker familiar with the sales process points out that the request attached to the RM336mil offer is not onerous on Khazanah and merely requests the latter to support the eventual application to the relevant government agencies to allow Silterra to have majority foreign ownership.

“That is a very light condition, so the actual cash offer price by NGV, that also includes an assumption of all the liabilities of Silterra, is at RM336mil. This is the price that should be matched by DNeX, ” he explains.

The problem though, is that the RM336mil price tag is almost RM100mil higher than what DNeX first offered of RM240mil, also for a 100% stake, going by past reports.

If it is successful in the bid for Silterra, DNeX will hold 60% while its partner Beijing CGP Investment Co Ltd holds the remaining 40%.



In an interview with StarBizWeek recently, DNeX’s group managing director Datuk Seri Syed Zainal Abidin Syed Mohd Tahir (pic above) indicated that the group was on an asset acquisition spree as he spoke about the group’s plans to acquire two marginal oil fields and to submit bids for three to four assets over the next few months, for its oil and gas business.

DNeX has also proposed to purchase an additional 60% stake in upstream oil and gas company Ping Petroleum Ltd at US$78mil (RM314.3mil), of which US$40.95mil will be settled in cash and the remainder via issuance of new shares.

A look at DNeX’s balance sheet reveals that the group is in a net debt position of RM73.29mil. The group has just completed a private placement and while it is unclear how much was raised, the group previously said it intended to raise RM77mil to RM110mil from the exercise.

But can it afford all those assets, including the new jacked-up price of Silterra?

On the other hand, can NGV also afford a RM336mil price tag and more importantly, is Silterra worth that much?

NGV director Md Radzi Din previously told StarBizWeek that there is opportunity in Silterra due to the new lease of life for 200mm wafer fabs, which is within the chip maker’s manufacturing capability and beyond.

The rise in demand for Artifial Intelligence (AI) and Internet of Things (IoT) devices has led to a surge in 200mm wafers since 2015 due to its more mature processes and demand for analogue semiconductors.

NGV is an investment holding company that leads a consortium comprising local and foreign investors bidding for Silterra.

NGV is controlled by local and bumiputra shareholders while its foreign partner, Orient Excellent – a China-based private equity fund – holds the remaining stake.

....STARBIZ 5 Feb 2021

Tech Bull rally will benefit KEYASIC.

Keyasic is cheapest tech stock

KEYASIC and SILTERRA. Any connection?

Did you know that the founder and MD of KEYASIC , Eg Kah Yee was CEO of SILTERRA? Maybe can get BIG contract from SILTERRA in future. SILTERRA Is now market buzzword

A dark horse got it?

Will Binapuri replace George Kent in LRT 3?

Cheapest vaccine counter!! All vaccine counters already above 80sen.

This rm38 .5m lending could be first step of Mpay as digital bank? If they get the license ...

With the recent tie up with Passion Ventures, Mpay will finance Coral Power solar power plant of RM 38.5m. It will make sense if Mpay finance Glove start ups, better still take up stake in non listed firms like Latexx glove with this kind of money?

At 12.5s it's only 0.05s pre consolidation! As what Calvin said, NetX may be beneficiary of RM 50 B fiberisation project?

NIIS winner is Htpadu/MyEg/S5?

Citing sources, the report said My EG Services Bhd (MyEG) was bidding for the contract with HeiTech Padu and S5 Systems Sdn Bhd as a consortium.

MyEG's 20.86% shareholder Asia Internet Holdings Bhd also holds a 10.39% stake in HeiTech Padu, according to their bourse filings.

Citing sources, the report said My EG Services Bhd (MyEG) was bidding for the contract with HeiTech Padu and S5 Systems Sdn Bhd as a consortium.

MyEG's 20.86% shareholder Asia Internet Holdings Bhd also holds a 10.39% stake in HeiTech Padu, according to their bourse filings.

MyEg owns 10% of Htpadu

If MyEg wins the RM1.2B NIIS project, it will be re rated to TP rm3.00?

Will IRIS be suspended?

Don't forget . The are risks involved ..
1. WIndfall Tax
2. Govt may set minimum price for rubber to protect the smallholders

The 2 factors can derail your so called bull run and bring the party to a stop.

A poor man with big dreams. No money but want to buy bungalow

Directors buying shares. Something brewing ...

Revenue and profit will go from 1x to 5x

Karex will also manufacture glove?? Process and raw materials very similar. TOp Glove also venture into face masks and PPE. Why can’t Karex do Gloves??

Todays announcement....Directors buying shares. .... BOnus issue coming?

Somebody say in i3 mlab will take over glove company. Anybody can reproduce article here. ?

Talk rubbish. Shiok sendiri . Lol

Big con job! Told u guys to stay away. Consolidation 2 become 1. Half your investments gone. This co has no future. Again, look who is sitting on the B.O.D.

Lack of transparency. Why u guys still bother to follow?

ABBA: The winner takes it all...

US bought all of the world's supply of covid19 drug Remdesivir.

Will US also buy up the World's no1 TOP GLOVE manufacturer?

RTO in the offering?

Cheh. This losing money company. Is it worth fighting for? ? Lol..

Or are they diversifying into the Digital/ e commerce sector? Fibernisation project?

Eden big enuf to buy Latexx and join the Glove booming industry. Not the kacang putih MQTECH, ...

Hope new Petronas boss will look into the O& G consolidation of OSVs. The ICON will be biggest beneficiary sine its the largest OSV in the country!!

If oil is US 190, then icon will be rm 1!!

Maybe EDEN can go into glove business? Latexx and WRP Asia takeovr targets.

Ting ting ting....the fight begins tomorrow... Lol

Are they too talking to S5 for RTO like ConnectCounty??
Buzzword now is S5. Everybody wants to get involved.

Dont be fooled. These companies use unlisted glove Companies names to push the stocks. Beware. Bursa last week already give warning.

Bursa & sc is watching.. Read the edge and starbiz today..

2 court hearings. One on 9 July and another on 16 August. Just like world cup final, only one side will win...which side are you supporting? Before court hearing, better fight in the open market first...lol

45% of shareholders fighting with one 30% shareholder. It will go on forever....

I must admit Metronic cash pile is RM 56.48M, higher than its market cap of RM 49.83.as revealed by EDge Weekly today. Very impressive and based on its low share price, it makes a delicious target of takeover. But wait.. Its warrant price is only 1s with a low conversion price of 8s. Outstanding warrants is only 410M so if any hostile party were to take over this company, the WARRANTS is the target.

MR Chang Lih Kang, MP for Tanjung Malim (PKR) & Mr Su Keong Siong, MP for Kampar (DAP). Both in the Board of directors. ( Annual Report 2019 ). Dato Dr Mah Hang Soon is the First Deputy Minister of Education (PN) and deputy President of MCA.