SC Estate Builder Berhad has announced a strategic joint venture with Anjung Meriah Sdn. Bhd. through its wholly-owned subsidiary, SC Estate Construction Sdn. Bhd. The agreement, finalized on 24 July 2024, marks SCBUILD’s entry into Malaysia’s large-scale solar energy sector.
Under the joint venture, SCECSB and AMSB will collaborate on the Large Scale Solar (LSS) Program or LSS Petra 2024, which Suruhanjaya Tenaga introduced on 1 April 2024. This program focuses on developing solar photovoltaic plants with a total capacity of 2,000 megawatts (MW) across Peninsular Malaysia. In the consortium, AMSB will hold a 60% stake, while SCECSB will own 40%.
The joint venture aims to support Malaysia’s National Energy Transition Roadmap (NETR), the Twelfth Malaysia Plan (RMKe12), and the Mid-Term Review of the Twelfth Malaysia Plan. The partnership will focus on various Environmental, Social, and Governance (ESG) initiatives, including solar power installations on commercial and industrial buildings, affordable homes, and electric vehicle (EV) charging infrastructure.
SCECSB, incorporated in Malaysia in 2012, specializes in construction and project management. AMSB, founded in 1987, is a Bumiputera company involved in engineering, procurement, construction, and commissioning (EPCC) for solar energy projects. AMSB’s capital is RM850,000, and it holds registration as a photovoltaic service provider with SEDA Malaysia. Ms. Jeaneve Kuay, Non-Independent Deputy Executive Chairman of SCBUILD/0109, is a significant shareholder and director at AMSB.
The joint venture will operate under the name of AMSB. Key responsibilities include SCECSB’s role in securing and investing in solar power projects and EV chargers, while AMSB will handle the implementation of these projects according to EPCC contract conditions.
The joint venture is anticipated to positively impact SCBUILD’s financial performance without affecting its issued share capital or shareholder holdings. It is expected to enhance the company’s future earnings and net assets.
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