It entered into a MoC with MVSB in relation to the facility management of large-scale PV projects
by PRIYA VASU / graphic by TMR
WIDAD Group Bhd’s shares rose 1.9% or one sen to 52.5 sen yesterday, in response to the group’s latest venture into the large-scale photovoltaic (PV) business under its facilities management segment.
The company entered into a memorandum of collaboration (MoC) with Motion Ventures Sdn Bhd (MVSB) in relation to the facility management of large-scale PV projects.
The project boasts a total capacity of 1,000MW for Peninsular Malaysia under package P1: 10MWac to less than 20MW alternate current (ac) and package P2: 30MWac to 50MWac and 66 Community Solar Projects, Widad noted in a filing to Bursa Malaysia yesterday.
MVSB is principally engaged in the business of property, construction and ICT sectors and owns and operates 66 community solar projects in Malaysia.
All the electricity generated from the community solar projects is supplied into the grid via the renewable-energy power purchase agreement.
“Widad and the MVSB are hereby desirous to collaborate in respect of the management of facilities of the said project. The MoC is to regulate Widad and MVSB’s relationship and to provide the terms and conditions in connection to the project,” Widad noted. The collaboration will enhance Widad’s integrated facilities management service offerings, contribute positively to Widad’s revenue and expand its customer base of facilities.
Last month Widad’s parent company, Widad Business Group Sdn Bhd, announced plans to build a mixed development in Langkawi, Kedah, named “[email protected]”, which is expected to be completed within 15 to 20 years.
[email protected] boasts an estimated gross development value of RM40 billion. It will also feature a modern development with an Islamic and tropical vernacular concept that will change the landscape of Langkawi and become its main attraction.
Almost 90% of the 1,979-acre (800.9ha) site consists of the ocean. Widad intends to erect a man-made island, which will eventually span about 1,000 acres or 50% of the entire area.
Once the project is completed, it will consist of tourism components such as five-and six-star hotels and resorts, an international golf course located beside the Marina Yacht Club, an international business and office complex, shopping malls, higher learning institutions, healthcare facilities and luxury residences.
The parent company is also a potential suitor of Maju Expressway (MEX) 1, which is being put up for sale by Maju Holdings Sdn Bhd.
Though talks are still ongoing, the two parties are currently looking at a value of up to RM2 billion for MEX 1 and are believed to have submitted non-binding offers, according to reports.
Incorporated in 2002, Widad is owned by Tan Sri Muhammad Ikmal Opat Abdullah, who is also a major stakeholder of Widad and Dataprep Holdings Bhd.
Widad has grown and diversified its activities in integrated facility management, construction, operations and maintenance, mechanical and electrical services, building automation system, energy management, property development, education, media, and information and technology services, hospitality, aquaculture, and oil and gas.
Its notable projects include Istana Negara, JB (Johor Baru) Sentral, Pusat Pertahanan Awam Negeri Kedah and Pembinaan Pusat Transformasi Bandar and is now working on road works in Northport Klang, Selangor; Bayan Baru sewers in Penang; and single-storey link house projects in Kampung Melingsung in Kota Kinabalu, Sabah.