Reservoir Link Energy Bhd.s 51% owned Founder Energy Sdn. Bhd has received a Purchase Order from Fabulous Sunview Sdn. Bhd for the supply of mounting structures for large-scale solar (“LSS”) photovoltaic plant development in Malaysia.
The salient terms of the PO include to supply of coated carbon steel and hot dipped galvanised carbon steel top structure, hot dipped galvanized carbon steel foundation c/w accessories. with a total value of approximately RM 11.4 million.
Founder Energy is to deliver the goods between January 2023 and April 2023 and to be delivered to LSS photovoltaic plant at the Project location.
FSSB is a private limited company incorporated in Malaysia on 1 March 2013. FSSB’s principal business activities are engineering, procurement, construction, and commissioning of solar photovoltaic and other renewable energy facilities, provision of solar photovoltaic construction and installation services, and associated services and products.
The Contract will not have any effect on the share capital and shareholding structure of the Company and there will not be any immediate effect on the net assets per share and gearing of the Company. However, the Contract is expected to contribute positively towards the earnings of the Company and its subsidiaries for the financial year ending 30 June 2023.