G Capital through its wholly-owned subsidiary has entered into a Joint Venture and Shareholders’ Agreement with
Yayasan Sabah and Kerap Hijau Sdn. Bhd. an SPV company for a proposed intention in developing mini hydropower projects in Sabah.
The parties have agreed to collectively pool their resources, leading to fundraisings of not less than RM3 billion in developing the first 200 MW Projects, which may be financed via a combination of fund-raising exercises and bank borrowings
Innoprise is principally involved in the business of managing and operating independent power distribution. As of the Effective Date, the issued share capital of Innoprise is RM2 comprising 2 ordinary shares. It is a wholly-owned subsidiary of Innoprise Corporation Sdn Bhd which is majority-owned by the Board of Trustees of Yayasan Sabah.
While Kerap Hijau is wholly owned by Tan Sri Datuk Seri Panglima Pandikar Amin Bin Haji Mulia with an issued share capital of RM100 comprising 100 ordinary shares. The company is listed as an operation of generation facilities that produce
electric energy and general trading. It has already obtained letters of no objection from the Sabah State Government in favour of the Company to undertake the 5 hydro energy schemes involving 13 mini-hydropower plants.