Pekat Group Awarded Turnkey Project Valued At RM38.2 Million

Pekat Group Bhd announced that it has received a letter of award from Sun Estates Sdn Bhd in respect of a turnkey Engineering, Procurement, Construction, and Commissioning (“EPCC”) contractor for the LSSPV with 10MWac capacity project at Daerah Batang Padang, Perak (“Project”) for a contract lump sum fixed price of RM38.2 Million

This is in relation to Pekat Solar Sdn Bhd (PSSB) a wholly-owned subsidiary of Pekat Technologies Sdn Bhd which in turn is a wholly-owned subsidiary of Pekat Group Bhd.

The expected completion date shall be on 15 December 2023 or as otherwise mutually agreed between PSSB and Sun Estates. The Contract covers all works necessary for the due and proper completion of the LSSPV in line with the requirements of Tenaga Nasional Berhad (“TNB”), Suruhanjaya Tenaga, Sun Estates, and appointed consultants by Sun Estates.

It said that the  Project will not have any effect on the share capital and shareholdings structure of the Company. The Project is expected to contribute positively to Pekat group’s earnings and net assets per share for the financial year ending 31 December 2022 onwards until the completion of the Project.

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