G Capital announced that Northern Star Hydropower Sdn Bhd, a 100%-owned subsidiary entered into a memorandum of understanding with CCIAM Logistic Company Limited for mutual intentions to engage CCIAM Logistic for comprehensive services including exploration, construction, management, technology, and Environment Social Governance strategies for the 26 MWac Small Hydropower Project in Pahang.
They are also to look into raising capital up to RM325,000,000 to fund the project.
CCIAM Logistic a wholly owned subsidiary of CCIAM Future Energy Limited is a Hong Kong based company involved in activities for transportation, it is listed on HKSE. CCIAM Future Energy group of companies principally engaged in the provision of energy saving solutions, including heating, ventilation and air conditioning systems for hotels, office buildings, shopping malls and industrial plants, provisions in financial investment and loan financing business.
G Capital said the MOU is valid for one year from the Effective Date and may be amended with mutual consent or terminated by either Party if one Party serves the other Party at thirty (30) days’ notice in writing stating its intention to terminate.
