TEOSENG

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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS Solar Photovoltaic Engineering, Procurement, and Construction and Commissioning Agreements ("Solar PV EPCC Agreements") between Teo Seng Farming Sdn Bhd ("TSF"), Success Century Sdn Bhd (SCSB) and Teo Seng Paper Products Sdn Bhd (TSPP), collectively wholly-owned subsidiary company of Teo Seng Capital Berhad ("Teo Seng") and Solarvest Energy Sdn Bhd ("SESB"), wholly-owned subsidiairy of Solarvest Holdings Berhad for the installation of 9 Rooftop Solar Projects - Phase 2 Agreements

TEO SENG CAPITAL BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
Solar Photovoltaic Engineering, Procurement, and Construction and Commissioning Agreements ("Solar PV EPCC Agreements") between Teo Seng Farming Sdn Bhd ("TSF"), Success Century Sdn Bhd (SCSB) and Teo Seng Paper Products Sdn Bhd (TSPP), collectively wholly-owned subsidiary company of Teo Seng Capital Berhad ("Teo Seng") and Solarvest Energy Sdn Bhd ("SESB"), wholly-owned subsidiairy of Solarvest Holdings Berhad for the installation of 9 Rooftop Solar Projects - Phase 2 Agreements

Refer to the previous announcements made on 21 November 2019 and 13 February 2020 pertaining to the Memorandum  of Agreement  between Teo Seng Capital Berhad ("Teo Seng" or "the Company") and Solarvest Holdings Berhad ("Solarvest") for the investment in Solar Photovoltaic ("Solar PV") System.

 

Further announcement dated 25 March 2020 was made where Teo Seng Farming Sdn Bhd ("TSF"), a wholly-owned subsidiary company of Teo Seng and Solarvest Energy Sdn Bhd ("SESB")  has entered into EPCC Phase 1 Agreements installing 6-rooftop solar project with 1,167.36 kWp amounting RM3,668,054.12.

 

The Board of Directors of Teo Seng Capital Berhad (“Teo Seng” or “the Company”) wishes to announce that TSF, Success Century Sdn. Bhd. (“SCSB”) and Teo Seng Paper Products Sdn. Bhd. (“TSPP”), collectively the wholly owned subsidiaries of the Company had on 10 August 2020 entered into another 9 separate Solar Photovoltaic Engineering, Procurement, Construction and Commissioning Agreements (“Phase 2 Agreements”) with Solarvest Energy Sdn. Bhd. (“SESB”), a wholly owned subsidiary company of Solarvest Holdings Berhad to install 2,743.96 kWp (kilowattpeak) of 9 rooftop solar projects in TSF, SCSB and TSPP, with earmarked capital expenditure (“contract price”) of RM7,810,956.48 (“Solar PV Projects”).


(TSF, SCSB, TSPP and SESB hereinafter referred to “Party” individually and the “Parties” collectively). 

 

Please refer to the attachment for the detail announcement.

 

 




Please refer attachment below.



Announcement Info

Company Name TEO SENG CAPITAL BERHAD
Stock Name TEOSENG
Date Announced 10 Aug 2020
Category General Announcement for PLC
Reference Number GA1-10082020-00002