PETALING JAYA: Coastal Contracts Bhd
’s wholly-owned subsidiaries, Coastal Solar Sdn Bhd (CSSB) and Pleasant Engineering Sdn Bhd, as well as Bina HT Sdn Bhd (BHSB), have received a letter of notification on acceptance of offer (LON) from the Energy Commission Sabah for the development of a 15.00 megawatt alternating current, large-scale solar photovoltaic plant in Sabah.
In a filing with Bursa Malaysia, Coastal Contracts said the consortium’s proposal was approved by Majlis Tenaga Sabah, subject to terms and conditions outlined in the LON.
“The final commercial operation date shall be no later than June 30, 2027 but not earlier than April 1, 2027.”
“CSSB plans to finance the project through internally generated funds and/ or bank borrowings.”
Coastal Contracts said the project will not have any material effect on its earnings per share, net assets per share, gearing and share capital in respect of the financial year ending Dec 31, 2024.
“However, the project is expected to contribute positively towards Coastal Contract’s future earnings per share and net assets per share from the financial year ending Dec 31, 2027 towards throughout the duration of the project.”
