SC Estate Builder eyes new venture in solar power

KUALA LUMPUR: SC Estate Builder Bhd has entered into a memorandum of understanding (MoU) with Dekad Aliran Sdn Bhd (DASB) for a proposed collaboration in the solar power business under an engineering, procurement, construction and commissioning (EPCC) structure.

In a statement to Bursa Malaysia today, SC Estate Builder said the MoU aims to establish and confirm the mutual understanding and intention between the company and DASB to enter into the collaboration for the next 10 years.

“The parties shall negotiate exclusively with each other during a period within 24 months from the date of the MoU or such further period(s) as may be mutually agreed by the parties for the entry into a joint venture agreement in respect of the joint venture collaboration.

“The entry into the joint venture agreement shall be conditional upon, amongst others, the approval from the board of directors of SC Estate Builder in relation to the joint venture collaboration whilst the joint venture agreement shall be conditional of which shall be satisfied within 24 months from the date of the joint venture agreement or such other period as may be mutually agreed by the parties,” SC Estate Builder said.

SC Estate Builder said DASB designs, implements and supports solar power systems and is involved in solar power purchase agreements as well as supply agreement for renewable energy.

At 2:37pm, SC Estate Builder’s share price rose 0.5 sen or 16.67% to 3.5 sen. The stock saw some two million shares traded.

Source: theedgemarkets