Gopeng hires Sunway to build 50MW solar plant in Perak
28 Dec 2021
The project, named LSS4 Project 1, is expected to cost around RM200m, and it will be built in Mukim Teja, Daerah Kampar, Perak
Gopeng Bhd intends to construct a 50 megawatt (MW) solar power plant in Perak and hired Sunway Construction Group Bhd (SunCon) to do the job.
GBS Suria Sdn Bhd, a wholly owned subsidiary of Gopeng, has engaged SunCon to undertake the design, engineering, procurement, construction, testing and commissioning of a solar photovoltaic (PV) energy generating facility with ancillary equipment and facilities.
According to the exchange announcement by Gopeng yesterday, the project named LSS4 (Large Scale Solar 4) Project 1 is expected to cost around RM200 million.
“The LSS4 Project 1 shall be completed and achieve the commercial operation date by the scheduled commercial operation date on Dec 31, 2023, as required by the Energy Commission,” the statement read.
The project will be built in Mukim Teja, Daerah Kampar, Perak.
A letter of intent has been issued by Sharp Ventures Solar Sdn Bhd for the design, engineering, procurement, construction, testing and commissioning of a 50MW LSS PV plant at Mukim Kapar, Daerah Klang, Selangor Darul Ehsan, for a total contract sum of RM185 million.
“The LSS4 Projects 1 and 2 (collectively, the LSS4 Projects) are expected to contribute positively to the earnings of SunCon Group for the financial year ending Dec 31, 2022,” the statement added.
The LSS4 Project 1 is a Recurrent Related Party Transaction (RRPT) by virtue of Tan Sri Chew Chee Kin, a director of SunCon, who is also a director of Sunway Bhd and Gopeng Bhd, as well as a director of several subsidiaries of Sunway Bhd.
“Fortuna Gembira Enterprise Sdn Bhd, an indirect wholly owned subsidiary of Sunway Bhd, is a major shareholder of Gopeng Bhd.
Evan Cheah Yean Shin is a director and major shareholder of SunCon, as well as director of several subsidiaries and major shareholder of Sunway Bhd.
Tan Sri Jeffrey Cheah Fook Ling, Puan Sri (Dr) Susan Cheah Seok Cheng, Sarena Cheah Yean Tih, Adrian Cheah Yean Sun, Sungei Way Corp Sdn Bhd and Active Equity Sdn Bhd are major shareholders of both SunCon and Sunway Bhd, as well as persons connected to Evan Cheah.”
“The LSS4 projects are subject to the normal construction risk of material price fluctuation. However, with the past experience and expertise of SCSB in construction projects, this risk could be mitigated,” the statement said.
SunCon has obtained its shareholders’ mandate for such an RRPT entered into or to be entered into by SunCon and its subsidiaries with Gopeng at its AGM held on Aug 25, 2021.
Source: The Malaysian Reserve