Joint venture agreement between Genbayu Gemilang Sdn. Bhd. (a wholly owned subsidiary of the Company) and Vsolar Group Berhad On 1 September 2020, a wholly owned subsidiary of the Company has entered into a joint venture agreement (“Agreement”) with Vsolar Group Berhad (“Vsolar”) to regulate their relationship inter se as shareholders of Cubetech Asia Sdn Bhd (“CASB”) in which, CASB intends to submit its tender to build and operate a Large Scale Solar 4 (LSS4) Proposed 50MW Plant in Seremban, Negeri Sembilan Darul Khusus (“The Project”). The Project consist of the following terms: i) The estimated gross development value of The Project is amounting to RM217,000,000; ii) Output capacity of the plant – 50 MWac; iii) The projected Sunlight Irradiance (“SI”) per day - 3.6 hours per day iv) Total Daily Energy Production (“DEP”) - 300, 000 KWh per day v) The period of concession under power purchase agreement with Tenaga Nasional Berhad (“TNB”) commencing from Commercial Operation Date (“COD”) by 31 December 2023; and vi) The grid connection is within 15km radius to the nearest 132kV TNB transmission facility from the proposed site in Mukim Setul, Seremban, Negeri Sembilan. In consideration of a wholly owned subsidiary of the Company agreeing to lease the proposed site to CASB at no cost, Vsolar shall cause CASB to issue 2, 870, 000 ordinary shares in CASB representing seventy percent (70%) of the enlarged issued shares in CASB. Subject to the clause stated in the Agreement, the shareholding in CASB shall be maintained at all times at ratio of 70:30. The Agreement is not expected to have any effect on the issued share capital and substantial shareholders’ shareholdings of the Company as it does not involve the issuance of any new ordinary shares in the Company and have no material impact on the Company’s earnings per share, net assets and gearing for the following financial year ending 30 June 2021.
hold a million units, it will jump when it needs.. like to read the gossips here .. RM2.50, RM1, RM2.00, 0.20cents, tp 0.80, "feel sorry...", the sceptical investor is selling fast at 0.185... what else guys.....happy Women's Day!!
PP is private placement. Got mention will PP 30% to dont know which party...mean new major share holders... But who is the potential major shareholders ? That is what i am waiting for.
Pp price is calculated by taking 5 days average market price with discount not more than 20% Someone intentionally press down the price to get cheap pp shares ... my 2 cents
There are something we do not know Why want to raise fund via private placement . Unless there is something going on . Nobody will subscribe the private placement
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Posted by cnnboy > 2021-03-08 15:49 | Report Abuse
revenue generating solar project