PETALING JAYA: Jentayu Sustainables Bhd
, which saw its share price come under pressure in recent days, has asserted confidence that price fluctuations are short-term and not indicative of the company’s fundamentals.
“We are firm in our belief that these price fluctuations are short term in nature, and are not reflective of the company’s true fundamentals,” Jentayu said in a statement.
Jentayu closed 4.5 sen, or 9%, higher at 54.5 sen with 99.39 million shares traded. The counter has fallen some 58% in the last five trading sessions.
“Jentayu is well on its way to achieve its target for sustainable financial performance with the injection of the run-of-river hydropower plant Telekosang Hydro into Jentayu.
“We are also on track to execute the power purchase agreement for our RM2.8bil, 170 megawatt run-of-river hydropower plant Project Oriole by mid-2024,” it said.
