Kawan Renergy in RM39mil contract win
In a filing with Bursa Malaysia, the engineering solutions provider said the work will be completed within 20 months from the acceptance of the letter of award or any other date as advised in writing by GMEASB.
'Barring any unforeseen circumstances, the project will have no effect on the issued share capital and substantial shareholdings of the company, as there is no issuance of new ordinary shares in the company.
'The project is expected to contribute positively towards the earnings and net assets of the company and its subsidiaries for the duration of the project,' said Kawan Renergy.
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KUALA LUMPUR: Kawan Renergy Bhd, through its wholly-owned Kawan Green Energy Sdn Bhd, has secured a RM38.8 million contract from Gas Malaysia Energy Advance Sdn Bhd. In a filing with Bursa Malaysia, the company said the scope of work includes the engineering, procurement, construction and commissioning of a gas turbine co-generation system in Port Klang, Selangor. The project is expected to be completed within 20 months from the date the letter of award is accepted. Kawan Renergy said its outstanding order book now increased to RM130.9 million, offering strong earnings visibility for the next 12-24 months. Executive director Heng Siew Aun said the contract affirms the company's established expertise in providing comprehensive engineering solutions in the clean energy sector. She added that co-generation systems are becoming increasingly cost-effective, especially in light of rising electricity prices. "We believe the co-generation adoption continues to accelerate, driven not only by cost savings but also by its ability to reduce carbon footprint through more efficient fuel use and lower greenhouse gas emissions. "We remain focused on capturing emerging opportunities in this expanding segment, and have been reinforcing our position as a trusted partner in the clean energy transition," she said.
