Quick take: Ipmuda shares hit highest in two decades

KUALA LUMPUR: Shares in Ipmuda Bhd rose to its highest in over 21 years after signing a slew of heads of agreements to acquire several renewable energy (RE) plants and healthcare assets.

The counter rose 2.67%, or five sen to RM1.92 with 4.3 million shares traded. Year-to-date, it has risen some 150%.

Ipmuda has signed a slew of heads of agreement to acquire several renewable energy (RE) plants and healthcare assets totalling RM192.4mil.

It signed heads of agreement to buy 70% stake and 100% of the redeemable preference shares of Telekosang Hydro One Sdn Bhd and Telekosang Hydro Two Sdn Bhd respectively, as well as 100% of Telekosang Hydro One Asean green junior sukuk for RM163.3mil.

Telekosang is developing a 40 megawatt (MW) small hydropower plant project at Sungai Telekosang in Tenom, Sabah.

Ipmuda also signed heads of agreement to acquire the entire stake in Jentayu Solar Sdn Bhd for RM11.1mil to be satisfied by issuing new shares.

Jentayu Solar owns and operates a 5.99MW solar power plant, a quality asset strategically located in a high solar irradiance area in Pokok Sena, Kedah.

Ipmuda signed heads of agreement to acquire a 100% stake in Ultimate Forte Sdn Bhd (UFSB) for RM18mil.

UFSB operates a 30-bedded private hospital specialising in paediatrics and obstetrics and gynaecology, known as Ohana Specialist Hospital, in Seri Rampai, Kuala Lumpur.

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