Jentayu to raise RM78mil through land, share sale

Shareholders agreed to the move and the funds raised will be utilised to partially finance Jentayu’s run-of-river hydropower project called Project Oriole in Sabah, worth RM2.56bil.

PETALING JAYA: Jentayu Sustainables Bhd is going ahead with the proposed sale of leasehold land to Beacon ACM Sdn Bhd and a private placement of up to 30% of its total issued shares, which is expected to raise RM78mil for the group.

Shareholders agreed to the move and the funds raised will be utilised to partially finance Jentayu’s run-of-river hydropower project called Project Oriole in Sabah, worth RM2.56bil.