Cy­park Re­sources bags 2 deals worth RM75.01m

New Straits Times - - Business -

KUALA LUMPUR: Cy­park Re­sources Bhd has bagged two contracts worth a com­bined RM75.01 mil­lion to build two so­lar pho­to­voltaic (PV) plants in Ne­gri Sem­bi­lan.

In a fil­ing with Bursa Malaysia yes­ter­day, Cy­park said it has ac­cepted two let­ters of award from Se­lasih Men­tari Sdn Bhd and Rev­enue Van­tage Sdn Bhd re­spec­tively, for the pro­posed works.

For the first con­tract worth RM53.38 mil­lion from Se­lasih Men­tari, Cy­park will de­velop a 10.50MW so­lar PV plant at Ladang Tanah Merah. The con­tract is for a du­ra­tion of 17 months and 25 days, be­gin­ning Tues­day to Novem­ber 16 next year.

The sec­ond con­tract val­ued at RM21.63 mil­lion from Rev­enue Van­tage, will be for the de­vel­op­ment of a 3.95MW plant at Jelebu. The con­tract is for 15 months and 15 days, com­menc­ing from Wed­nes­day to Septem­ber 7 next year.

Cy­park said there are no ma­jor risks in re­la­tion to the works, be­sides fluc­tu­a­tions in ma­te­rial price and labour cost, which have been cov­ered by the to­tal con­tract sum.

“The works are ex­pected to con­trib­ute pos­i­tively to the earn­ings of Cy­park and would not have any ef­fect on the share cap­i­tal or share­hold­ings of the sub­stan­tial share­hold­ers,” the com­pany added.

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