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Monday, March 20, 2017

Will JAKS excitement spillover to Gunung?

Recently a lot of news on the trading of JAKS about the power plant, wondering whether will spill over to Gunung or not.

Copied from Gunung.
In the longer term, we are excited by the successful implementation of the mini-hydro Projects in Perak, which will contribute to Gunung’s long term revenue and earnings, and enhance Gunung’s growth potential. The long term stable income stream derived from the mini-hydro Projects will reduce Gunung’s dependency incomes solely from chartering landbased transportation assets & specialty vehicles. Under the hydropower division, the first small-hydro plant, with an installed capacity of 14MW, is 90% complete and expected to be commissioned in March 2017, followed by another three (3) small hydro plants to be commissioned in FY2017/2018

Gunung Hydropower Sdn Bhd, a 70% subsidiary of Gunung Capital is in the business of building and operating mini-hydro power plants. The renewable energy sector has become more commercially viable due to the Renewable Energy Act 2011. Driven by the prospect of stable and continuous income stream for a period of 21 years, Gunung Hydropower has entered into a JV agreement with Perak Hydro Renewable Energy Corp Sdn Bhd (PHREC) in 2012 to develop two mini hydro power plants, with 20MW combined installed capacity, in Perak. In 2013, Gunung Capital decided to acquire 85% stake in Pusaka Hijau Sdn Bhd, which in turn owns 60% of PHREC, in order to strengthen its presence in the mini-hydro power generation industry. PHREC is given the mandate to act as the master developer for all mini-hydro projects in Perak, a total of 25 sites with and estimated combined installed capacity of 176MW.

 

Gunung Land Sdn Bhd is a wholly-owned subsidiary of Gunung Capital dealing in the property development and asset management services. In August 2013, the Gunung Land signed an MOU with the International Islamic University Malaysia (IIUM) for the purpose of collaboration for the development of Islamic City, a mixed development project which will consist of an islamic center, a medical center, serviced apartments, a convention center, a hotel,  a shopping mall and food courts.

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