professor有上cari Vsolar Group says co entered into JV Agreement with UTM
6:16am EDT
Vsolar Group Bhd : VGB has on 11 April 2017 entered into a joint venture agreement with UTM . The proposed JVA will have no material effect to the earnings per share of the company for the financial year ending 30 June 2017 . JV company shall be held 80 percent by Vsolar Group Berhad and 20 percent by Universiti Teknologi Malaysia . JV co shall be financed by subscription of new ordinary shares and/or redeemable convertible preference shares and loans . Parties to form special purpose vehicle to be jointly owned by parties to develop solar energy generation facilities with capacity of up to 30 megawatts . Parties to conduct research and development on “solar energy generation technology and solar plant installation and construction design” .VGB shall allocate a sum of up to 2 million RGT to the JV co.