CORP BRIEF: G Capital, Alam Maritim, Willowglen, TCS and Starbucks

by TMR / pic by BLOOMBERG

G Capital wins solar power contract

G CAPITAL Bhd’s 70%-owned subsidiary, Solarcity Malaysia Sdn Bhd, has received a letter of award from KSK KD Property Sdn Bhd and KCJ Properties Sdn Bhd for designing, constructing, installing, owning, operating and maintaining solar photovoltaic power generation systems with total capacity 271 kilowatt peak. In a filing to Bursa Malaysia yesterday, the company stated that operations will be located in Sungai Buloh, Selangor. Power purchase agreements (PPAs) will be executed between the parties for a period of 25 years from the commercial operation date in accordance with the agreed terms and conditions as stipulated in the PPAs.

Alam Maritim secures a project worth RM52m

ALAM Maritim Resources Bhd’s wholly owned subsidiary Alam Maritim (M) Sdn Bhd has secured a contract worth RM52 million for the provision of transportation, installation and pre-commissioning of flexible risers and other equipment for the cendor pipeline project for Petrofac (Malaysia-PM304) Ltd. In a filing to Bursa Malaysia, the company stated that the contract is expected to contribute positively to the net income and tangible assets of Alam Maritim and its group for the financial years ended June 30, 2022 (FY22) and FY23.

Willowglen bags contract from Sapura Rail Systems

A WHOLLY owned subsidiary of Willowglen MSC Bhd, Willowglen (Malaysia) Sdn Bhd has been awarded a contract by Sapura Rail Systems Sdn Bhd for the System Package Integrated Supervisory Control System in respect of the Rapid Transit System. In a filing to Bursa Malaysia, the contrast is estimated at RM14.4 million and is expected to contribute positively to the group’s earnings and net assets per share for the financial year ended Dec 31, 2022 (FY22) to FY26.

TCS unit gets RM255m project from Remedy Power

TCS Group Holdings Bhd’s wholly owned subsidiary, TCS Construction Sdn Bhd, has secured a RM255 million contract from Remedy Power Sdn Bhd for the foundation and main building works for one office block with commercial space, podium and basement carparks, lobby and amenity floors.

Starbucks opens 1st store in Perlis

STARBUCKS Malaysia has opened its first store in Perlis, completing the company’s presence in all states and federal territories in Malaysia. Starbucks Malaysia and Brunei MD Sydney Quays said the new store is the 62nd drive-thru store out of 345 branches in Malaysia.