Reference is made to the Company’s announcements on 9 August 2016, 3 January 2018, 17 October 2018, 23 October 2018, 28 January 2019, 12 March 2019, 5 July 2019 and 25 February 2020 in relation to the approval and extension of time granted by Sustainable Energy Development Authority Malaysia (“SEDA”) to the Company’s wholly wholly-owned subsidiary, Tex Cycle (P2) Sdn. Bhd. to build and operate a renewable electrical energy power plant with a capacity to supply 2MW per hour of electricity to Tenaga Nasional Berhad.

The Board of Directors of TEX CYCLE wishes to inform that Tex Cycle (P2) Sdn. Bhd. has received a letter from SEDA dated 30 July 2020 today. Via the letter,  SEDA has gracefully granted a further extension for the commencement of the renewable electrical energy power plant for the Initial Operation Date and Feed-in Tariff Commencement Date from 15 June 2020 and 27 July 2020 to 30 November 2020 and 31 December 2020 respectively. 

The Company will make further announcement if there is any material development in the matter.

This announcement is dated 7 August 2020.