Nestcon plans diversification into renewable energy to expand revenue stream
The group foresees the RE business potentially contributing 25% or more to the group's net profits and/or diverting 25% or more of the group's net assets in the future.
The group foresees the RE business potentially contributing 25% or more to the group's net profits and/or diverting 25% or more of the group's net assets in the future.
The sustainability sukuk is priced at a yield of 5% with a periodic distribution of 5% per annum.
“This is crucial in mitigating potential cost increases, as both the aluminium price and freight charges are expected to increase in the near future.
The terminations are due to the REIT's unsuccessful bids to the Energy Commission to participate in the CGPP, according to its filing to Bursa Malaysia on Friday.
For both MOUs, Pavilion REIT noted that a corporate green power agreement (CGPA) is to be executed within 60 days of approval from the Energy Commission to participate in the CGPP.
Khazanah plans for the platform to drive Malaysia’s decarbonisation agenda while also upskilling Malaysians in green sectors over the long term.
The “cross-border RE sale will be conducted via an electricity exchange system to be set up by the government”, Rafizi said.
The selected projects are Menara JLand, KOMTAR JBCC, B5 Johor Street Market, Ibrahim International Business District and Bandar Dato’ Onn.
“This will also increase the appetite for investments, once you are sure you can deliver the electricity and be paid in return.
“We will continue to leverage our RE expertise in PV systems and power plants to seek more projects, as businesses and other organisations move towards more sustainable operations.