Integrated Logistics Bhd chief executive officer Tee Tuan Sem speaking to reporters after the company AGM in Subang Jaya on May 03.
KUALA LUMPUR: Integrated Logistics Bhd’s (ILB) indirect unit IL Solar Sdn Bhd has won a bid to develop a 10MW large-scale solar photovoltaic plant in Bandar Bukit Kayu Hitam, Kedah.
In a filing with Bursa Malaysia, the logistics firm said IL Solar had on Dec 15 received a conditional letter of acceptance of the request for proposal bid, which is subject to the issue of a letter of award from the Energy Commission.
The plant will not have any effect on the issued and paid-up share capital and the substantial shareholders’ shareholdings of ILB.
It will also not have any material effect on the earnings and net assets of ILB for the current financial year ending Dec 31, 2016.
However, ILB said the project was expected to contribute positively to the future earnings of the group.
ILB ventured into the solar energy business in June last year by acquiring EVN Vision Sdn Bhd, which has the Sustainable Energy Development Authority Malaysia’s approval to set up a 1MW solar power plant in Penang, with feed-in-tariff to Tenaga Nasional Bhd
for a 21-year term.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
