PUC - OTHERS SIGNING OF RENEWABLE ENERGY POWER PURCHASE AGREEMENT ("REPPA") WITH TENAGA NASIONAL BERHAD ("TNB")
| Company Name | PUC FOUNDER (MSC) BERHAD |
| Stock Name | PUC |
| Date Announced | 22 Jun 2015 |
| Category | General Announcement for PLC |
| Reference Number | GA1-22062015-00025 |
| Type | Announcement |
| Subject | OTHERS |
| Description | SIGNING OF RENEWABLE ENERGY POWER PURCHASE AGREEMENT ("REPPA") WITH TENAGA NASIONAL BERHAD ("TNB") |
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PUC FOUNDER (MSC) BERHAD (“PUCF” OR “COMPANY”) SIGNING OF RENEWABLE ENERGY POWER PURCHASE AGREEMENT (“REPPA”) WITH TENAGA NASIONAL BERHAD (“TNB”) Further to the Company's announcement on 16 March 2015 in relation to the Feed-in Tariff ("FiT") approval for 1 megawatt power solar capacity from the Sustainable Energy Development Authority Malaysia ("SEDA") to MaxGreen Energy Sdn. Bhd. (formerly known as Ausscar Group Sdn. Bhd.) ("MESB"), a wholly-owned subsidiary of PUCF, PUCF wishes to announce that MESB has on 22 June 2015 entered into the REPPA with TNB for the supply and delivery of the renewable energy from solar photovoltaic (“PV”) for a FiT concession period of 21 years. Details of the REPPA The solar PV plant of MESB is scheduled for operation by 4th quarter of 2015. TNB has agreed to purchase the electricity generated by MESB for a period of 21 years pursuant to the REPPA. Salient Terms of REPPA Conditions precedent to the FiT commencement date The FiT commencement date shall only occur upon: (a) The satisfaction of the conditions as set out in sub-rule 15(1) of the Renewable Energy (Technical and Operational Requirements) Rules 2011; and (b) The submission by MESB to TNB of SEDA’s written confirmation of the FiT rate of RM1.0355 per kilowatt hour. Rationale PUCF will capitalise on the opportunity of entering into the REPPA to venture into renewable energy business as the Company is looking for steady, stable and recurring income for PUCF group of companies (“PUCF Group”). Risks The risk factors of renewable energy business, including but not limited to the followings: Business Risk The renewable energy industry is subject to general business risks as well as risks inherent in the industry. MESB will seek to mitigate such risk by keeping itself updated with any change in the laws, regulations and policies applicable to the renewable energy sector from time to time and to ensure that its interest is protected via reviews of internal control and processes as well as putting in place the appropriate policies and procedures. Financial risk PUCF Group intends to establish its solar PV plant in the near future and the source of funds will include bank borrowings, capital market fund raising exercise and/or internally generated funds. PUCF Group may incur interest expense on the bank borrowing to be obtained. Fluctuation of interest rates could have an effect on PUCF Group’s cash flow and profitability. Nevertheless, PUCF Group will use its best endeavours to manage its cash flow position and funding requirements. PUCF Group believes that its prudent cash flow management will be able to address the financial risk. Prospects Part of efforts to build the country’s renewable energy capacity includes a target under the National Renewable Energy Policy for solar power to contribute at least 220 megawatts to the total capacity mix. In aid of this, the authorities have implemented a regulatory framework for the FiT mechanism, which allows locally produced electricity to be sold to power utilities at a fixed premium for a specific period. This, in turn, is targeted to allow renewable energy generation to expand over time as a fraction of total power generation. (Source: Economic Transformation Programme Annual Report 2013) In view of the positive outlook and prospects of the renewable energy sector as well as the PUCF Group’s intention to establish its solar PV plant in the near future, PUCF Group is well positioned to contribute to the sustainability of the environment and enhancing its shareholders' value. Financial Effects of REPPA The signing of the REPPA will not have any effect on the issued and paid-up share capital and substantial shareholders' shareholdings of PUCF and is not expected to have any material effect on the net assets and gearing of the PUCF Group for the financial year ending 31 December 2015. The REPPA is expected to contribute positively to the future earnings of PUCF Group. Total commitment required to establish the solar PV plant is estimated to be approximately RM8 million. We will seek appropriate funding options including bank borrowings, capital market fund raising exercise and/or internally generated funds. Interest of Directors, Major Shareholders and/or Persons Connected with Them None of the Directors, major shareholders of PUCF and/or persons connected with them have any interest, direct or indirect, on the REPPA.
This announcement is dated 22 June 2015.
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TEXCYCL - Changes in Director's Interest (S135) - MR HO SIEW CHOONG
| Company Name | TEX CYCLE TECHNOLOGY (M) BERHAD |
| Stock Name | TEXCYCL |
| Date Announced | 22 Jun 2015 |
| Category | Changes in Director's Interest Pursuant to Section 135 |
| Reference Number | CS4-15062015-00035 |
Information Compiled By KLSE
Particulars of Director
| Name | MR HO SIEW CHOONG |
| Address |
No. 81, Jalan Terasek 1
Bangsar Baru Kuala Lumpur 59100 Wilayah Persekutuan Malaysia. |
| Descriptions(Class & nominal value) | Ordinary Shares of RM0.10 each |
Details of changes
Currency: Malaysian Ringgit (MYR)
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Type of transaction
|
Date of change
|
No of securities
|
Price Transacted (RM)
|
|
Acquired
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18/06/2015
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10,000
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0.500
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| Circumstances by reason of which change has occurred | Acquisition of shares |
| Nature of interest | Direct Interest |
| Consideration (if any) | - |
Total no of securities after change |
|
| Direct (units) | 8,230,903 |
| Direct (%) | 4.870 |
| Indirect/deemed interest (units) | 82,594,959 |
| Indirect/deemed interest (%) | 48.860 |
| Date of notice | 22/06/2015 |
| Remarks : |
| Name of Registered Holders - Total No. of Shares after changes (%) Direct Interest:- Ho Siew Choong - 8,230,903 (4.87%) Indirect Interest:- Can Cycle Sdn. Bhd. - 82,392,959 (48.74%)*1 Chuang Shiao Ye - 140,000 (0.08%)*2 Ho Wai Zheng - 36,500 (0.02%) *3 Ho Wai Mun - 25,500 (0.02%)*3 Notes:- *1. Deemed interested by virtue of his shareholdings in Can Cycle Sdn. Bhd. under Section 6A(4) of the Companies Act, 1965. *2. Deemed interested in his spouse, Madam Chuang Shiao Ye's direct shareholdings in Tex Cycle Technology (M) Berhad by virtue of Section 134(12)(c) of the Companies Act, 1965. *3. Deemed interested in his children, Mr. Ho Wai Zheng's and Mr. Ho Wai Mun's direct shareholdings in Tex Cycle Technology (M) Berhad by virtue of Section 134(12)(c) of the Companies Act, 1965. Based on the paid-up capital of the Company of RM16,904,330.00 divided into 169,043,300 ordinary shares (excluding 1,749,700 treasury shares) of RM0.10 each as at 18 June 2015. |
TEXCYCL - Changes in Sub. S-hldr's Int. (29B) - MR HO SIEW CHOONG
| Company Name | TEX CYCLE TECHNOLOGY (M) BERHAD |
| Stock Name | TEXCYCL |
| Date Announced | 22 Jun 2015 |
| Category | Change in Substantial Shareholders Interest Pursuant to Form 29B |
| Reference Number | CS2-15062015-00089 |
Particulars of substantial Securities Holder
| Name | MR HO SIEW CHOONG |
| Address |
No. 81, Jalan Terasek 1
Bangsar Baru Kuala Lumpur 59100 Wilayah Persekutuan Malaysia. |
| NRIC/Passport No/Company No. | 520108105277 |
| Nationality/Country of incorporation | Malaysia |
| Descriptions (Class & nominal value) | Ordinary Shares of RM0.10 each |
| Name & address of registered holder | Ho Siew Choong No. 81, Jalan Terasek 1 Bangsar Baru 59100 Kuala Lumpur |
Details of changes
Currency: Malaysian Ringgit (MYR)
| Type of transaction | Date of change | No of securities |
Price Transacted (RM) |
| Acquired | 18 Jun 2015 | 10,000 |
0.500 |
| Circumstances by reason of which change has occurred | Acquisition of Shares |
| Nature of interest | Direct Interest |
| Direct (units) | 8,230,903 |
| Direct (%) | 4.87 |
| Indirect/deemed interest (units) | 82,594,959 |
| Indirect/deemed interest (%) | 48.86 |
| Total no of securities after change | 8,230,903 |
| Date of notice | 22 Jun 2015 |
| Remarks : |
Name of Registered Holders - Total No. of Shares after changes (%) Direct Interest:- Ho Siew Choong - 8,230,903 (4.87%) Indirect Interest:- Can Cycle Sdn. Bhd. - 82,392,959 (48.74%)*1 Chuang Shiao Ye - 140,000 (0.08%)*2 Ho Wai Zheng - 36,500 (0.02%) *3 Ho Wai Mun - 25,500 (0.02%)*3 Notes:- *1. Deemed interested by virtue of his shareholdings in Can Cycle Sdn. Bhd. under Section 6A(4) of the Companies Act, 1965. *2. Deemed interested in his spouse, Madam Chuang Shiao Ye's direct shareholdings in Tex Cycle Technology (M) Berhad by virtue of Section 134(12)(c) of the Companies Act, 1965. *3. Deemed interested in his children, Mr. Ho Wai Zheng's and Mr. Ho Wai Mun's direct shareholdings in Tex Cycle Technology (M) Berhad by virtue of Section 134(12)(c) of the Companies Act, 1965. Based on the paid-up capital of the Company of RM16,904,330.00 divided into 169,043,300 ordinary shares (excluding 1,749,700 treasury shares) of RM0.10 each as at 18 June 2015. |
N2N - Notice of Shares Buy Back Immediate Announcement
| Company Name | N2N CONNECT BERHAD |
| Stock Name | N2N |
| Date Announced | 22 Jun 2015 |
| Category | Notice of Shares Buy Back Immediate Announcement |
| Reference Number | SB1-22062015-00006 |
| Date of buy back | 22 Jun 2015 |
| Description of shares purchased | Ordinary Shares of RM0.10 each |
| Currency | Malaysian Ringgit (MYR) |
| Total number of shares purchased (units) | 9,000 |
| Minimum price paid for each share purchased ($$) | 0.795 |
| Maximum price paid for each share purchased ($$) | 0.795 |
| Total consideration paid ($$) | 7,155.00 |
| Number of shares purchased retained in treasury (units) | 9,000 |
| Number of shares purchased which are proposed to be cancelled (units) | 0 |
| Cumulative net outstanding treasury shares as at to-date (units) | 8,247,400 |
| Adjusted issued capital after cancellation (no. of shares) (units) |
0 |
| Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%) | 1.87420 |
HHHCORP - General Meetings: Outcome of Meeting
| Company Name | HIAP HUAT HOLDINGS BERHAD |
| Stock Name | HHHCORP |
| Date Announced | 22 Jun 2015 |
| Category | General Meeting |
| Reference Number | GMA-22062015-00016 |
| Type of Meeting | Annual General Meeting |
| Indicator | Outcome of Meeting |
| Date of Meeting | 22 Jun 2015 |
| Time | 10:00 AM |
| Venue | Room Green II, Tropicana Golf & Country Resort, Jalan Kelab Tropicana, 47410 Petaling Jaya, Selangor |
| Outcome of Meeting | The Board of Directors of Hiap Huat Holdings Berhad ("Hiap Huat") is pleased to announce that the shareholders of Hiap Huat have at its Fifth (5th) Annual General Meeting ("AGM") held on 22 June 2015 approved all the resolutions as set out in the Notice of AGM dated 29 May 2015. |
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