We refer to our announcement dated 27 January 2017 and 30 November 2017 in respect of the above and the acceptance of the Letter of Acceptance of Offer dated 28 November 2017 from Suruhanjaya Tenaga in respect of the Development of the Large Scale Solar PV Plant or 2.00 MWa.c.at Papar, Sabah.

Suria Capital Holdings Berhad (“the Company”) wishes to announce that the Company has acquired 60% of the issued and paid-up share capital of Suria RE Sdn Bhd (formerly known as Borderless Unity Sdn Bhd) on 7 March 2018.  The acquisition is intended for the development of Large Scale Solar PV Plant (LSSPV) of 2.00 MW a.c. at Papar, Sabah.

The remaining 35% of the said company is acquired by the subsidiary of the Company i.e. SCHB Engineering Services Sdn Bhd, while the remaining 5% is acquired by RAPS Solutions Sdn Bhd.  All the parties will be signing a Joint Venture Agreement in due course.

The acquisition is not expected to have a material effect on the share capital, substantial shareholders’ shareholdings, earnings, gearing or net assets of the Company for the financial year ending 31 December 2018 or until the completion of the plant. 

None of the Directors and/or major shareholders of the Company and/or persons connected with them are deemed interested in the acquisition. The acquisition is not subject to the approval of the Shareholders of the Company.

This announcement is dated 7 March 2018 and made pursuant to Paragraph 9.19(23) of the Listing Requirements of Bursa Malaysia Securities Berhad.