It is worth noting that Zafrul points to the EV sector when asked to list low-hanging fruit. “On the EV side, we want to do local manufacturing … there are actually many opportunities that we can do, the spillovers are quite positive … motorcycles, there are a few [things]. You will be surprised … I don’t want [just] assembly but [for them] to build from scratch. One company I visited that does a battery energy storage system (BESS) in Malaysia is now building it in a Tesla plant in the US. It’s a Malaysian company,” says Zafrul, referring to Citaglobal Genetec BESS Sdn Bhd, a 50:50 venture between Citaglobal Bhd and Genetec Technology Bhd that in April unveiled the country’s first locally developed and produced battery storage system when showcasing its 1mw BESS prototype (MYBESS).
Kuala Lumpur, 16th) It is reported that Citaglobal (CITAGLB, 7245, main board industrial stock) will sign a memorandum of understanding with SUS Environment Shanghai Co., Ltd. to build a waste-to-energy (WTE) power plant, and there are also next steps to acquire it.
According to a report by the financial weekly "The Edge", sources revealed that SUS Environment intends to invest 15 billion ringgit in Malaysia to develop WTE projects, and the cooperation partner is Citaglobal.
SUS Environment is a company partially owned by Shanghai Industrial Group (SIIC), which is mainly fully owned by the Shanghai Municipal Government.
Just in 2020, SIIC acquired a 30.22% stake in SUS Environment and subsequently won nearly 60 WTE projects in China.
As far as Malaysia is concerned, WTE is still a brand new project. At this stage, only Cypark Resources (CYPARK, 5184, main board industrial stocks) has set up a factory in Kelantan; and under the 12th Malaysia Plan (12MP), the government intends to promote More WTE projects, and looking to 2025, another 6 related project power plants will be built.
In addition, sources also pointed out that Citaglobal is also expected to make new acquisitions, namely acquiring a minority stake in iFactors Sdn Bhd, which is mainly engaged in submarine cable contractors and leasing services.
According to the official website of iFactors, the company claims that it has been awarded a long-term maintenance contract by XL Axiata, an Indonesian company owned by Axiata (AXIATA, 6888, main board trade services stock).
Sources said the equity acquisition plan also comes with a net profit guarantee.
Nonetheless, Citaglobal declined to provide any response when contacted.
According to the Prime Minister’s Department, the first MoU, involving an estimated investment of RM15 billion (US$5.2 billion), was signed between Citaglobal Bhd and Shanghai Sus Environment to explore collaboration in developing waste-to-energy power plants, primarily in Malaysia.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Yusof896
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Posted by Yusof896 > 2023-04-18 15:41 | Report Abuse
Perlu sabar sikit...Sekarang, banyak orang goreng Salute