Incorporation Of A New Subsidiary Of The Company For the Purpose Of The Development Of Large Scale Solar Photovoltaic Plant (LSSPP) Of 100.00 MWa.c. In Marang, Terengganu

Back Jan 28, 2020
Type Announcement
Subject OTHERS
Description

Cypark Resources Berhad ("CRB" or "the Company") - Incorporation of a New Subsidiary of the Company for the Purpose of the Development of Large Scale Solar Photovoltaic Plant (LSSPV) of 100.00 MWa.c. in Marang, Terengganu

Further to the Company's announcement dated 24 December 2019, the Board of Directors of CRB wishes to announce that the Company had on 24 January 2020 incorporated a new subsidiary, namely, Cypark Suria Merchang Sdn. Bhd. [Registration No. 202001003182 (1359502-D)] ("CSM") ("the Incorporation"). The Incorporation is to facilitate CRB and Impian Bumiria Sdn. Bhd. ("Impian Bumiria") in the development of a Large Scale Solar Photovoltaic Plant of 100.00 MWa.c. in Marang, Terengganu.

CSM was incorporated as a private company limited by shares with an issued share capital of RM100.00 comprising 100 ordinary shares, of which the Company's wholly-owned subsidiary, Cypark Green Resources Sdn. Bhd., holds 70% of the shares and Impian Bumiria holds the remaining. CSM will be principally engaged in the renewable energy business.

The Board of Directors of CRB, having considered all aspects of the Incorporation, is of the opinion that the Incorporation is in the best interest of CRB.

This announcement is dated 28 January 2020.

 

Announcement Info

Company Name CYPARK RESOURCES BERHAD
Stock Name CYPARK
Date Announced 28 Jan 2020
Category General Announcement for PLC
Reference Number GA1-20012020-00008