KUALA LUMPUR: Citaglobal Bhd
said its wholly-owned subsidiary, Citaglobal New Energy Sdn Bhd (CGNE), has executed a framework agreement (FA) with Malaysia Rail Link Sdn Bhd (MRL) for energy advisory services and green energy development along the East Coast Rail Link (ECRL).
"The FA formally recognises the services delivered by CGNE and the continuing obligations to be fulfilled by CGNE under the FA, spanning the technical, commercial, and regulatory workstreams of the ECRL electricity engagement.
"The scope of services delivered encompassed connection charge analysis and verification, electricity tariff structuring and modelling, financial analysis, and engagement with the relevant authorities and stakeholders on behalf of MRL," said Citaglobal in a satement.
It said the advisory mandate does not require the deployment of substantial capital investment or balance sheet commitments, generating capital-light revenue for the group.
The service fee is expected to contribute positively to the group’s revenue and earnings for the financial period ending June 30, 2026.
The FA also establishes CGNE's green energy development mandate for the ECRL, to be undertaken through Citaglobal Renewable Energy Sdn Bhd (CGRE).
"Beyond advisory, our mandate to develop green energy solutions along the 665km ECRL corridor places us at the forefront of integrating renewable energy into major national infrastructure.
"By supporting railway operations with sustainable energy while generating long-term recurring revenue, this initiative strengthens Citaglobal’s position as an integrated energy solutions platform," said Citaglobal executive chairman and president Tan Sri Mohamad Norza Zakaria.
