Reference is made to the Company’s announcements made on 20 July 2022, 29 August 2022, 29 November 2022, 27 February 2023, 25 May 2023, 22 August 2023, 29 November 2023, 2 February 2024, 28 February 2024 and 30 May 2024.
The Board of Directors of Solarvest (“the Board”) wishes to update the status of the Memorandum of Understanding ("MOU") dated 20 July 2022 between Solarvest and NCT Land Sdn. Bhd., as follows:-
1. INTRODUCTION
The Board wishes to announce that Solarvest Energy Sdn. Bhd. (“SESB”), a wholly-owned subsidiary of Atlantic Blue Sdn. Bhd., a 100%-owned subsidiary of the Company had on 14 August 2024, entered into a Strategic Collaboration Agreement (“Agreement”) with NCT Smart Management Sdn. Bhd. (“NCT”) in relation to the installation of a solar photovoltaic energy generating system (“Solar System”) on the rooftops of the buildings (“Premises”) for the Developer’s end-purchasers of Phase 1 of the Project (“End Users”) to generate and supply solar photovoltaic energy to the respective buildings, promoting the use of renewable energy within the industrial park (“Project”).
(SESB and NCT shall hereinafter be collectively referred to as “Parties” and individually as “Party”).
2. INFORMATION ON NCT
NCT is principally engaged in providing management and maintenance services for an industrial park within a project provisionally known as NCT Smart Industrial Park
@ Kuala Langat developed by NCT Land Sdn Bhd (Registration No. 200401005146 (643649-U)), a company incorporated in Malaysia and having its registered and business address at Menara NCT, No. 2, Jalan BP 4/9, Bandar Bukit Puchong, 47100 Puchong, Selangor (“
Developer”), in compliance with the concept of “Managed Industrial Park” (“
MIP”) in the State of Selangor pursuant to the guidelines known as “Garis Panduan Pembangunan Taman Perindustrian Berkonsepkan ‘Managed Industrial Park’ Negeri Selangor” (“
MIP Guidelines”).
3.DETAILS OF THE AGREEMENT
3.1 SESB shall, upon request and at the cost and expense of the End Users, provide comprehensive turnkey services for the design, engineering, procurement, supervision, labor, materials, equipment, tools, installation, construction, and commissioning of the Solar System at the Premises. These services will be based on the specific requirements of the End User's electricity consumption and the terms of the contract to be entered into.
3.2 SESB retains the exclusive right to plan, design, develop, build, and complete the Solar System for the Project and to provide the generated solar energy to End Users under two options: Outright Purchase by the End Users and Power Lease to the End Users.
3.3 Solar System shall be delivered and installed within six to eight months from either the Notice to Proceed from the End Users for an Outright Purchase or the signing of the SARE and the Notice to Proceed for a Power Lease.
3.4 SESB guarantees that the service and maintenance of the Solar System shall be performed at its own cost during the agreed service period.
4. RISK FACTORS
The Company does not foresee any exceptional risk other than the normal operational risks associated with the Agreement and/or Project. Nevertheless, the Company will take the necessary steps to mitigate the risks as and when they occur.
5. FINANCIAL EFFECTS
The Agreement by itself is not expected to have any material effect on the net assets and earnings of the Company for the financial year ending 31 March 2025, however, once Developer successfully securing End Users for the Premises, it is expected that the Agreement will contribute positively to the future performance of the Company.
6. APPROVAL REQUIRED
The Agreement is not subject to the approval of shareholders and any other relevant authorities.
7. DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS
None of the Directors and/or major shareholders of Solarvest or any persons connected with them have any interests, direct or indirect, in the Agreement.
8. STATEMENT BY THE BOARD OF DIRECTORS
The Board, having taken into consideration all aspects of the Agreement, is of the opinion that this Agreement is in the best interest of Solarvest Group.
This announcement is dated 14 August 2024.
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发表于 26-8-2024 05:00 PM
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