KUALA LUMPUR: Zecon Bhd
’s wholly-owned subsidiary Zecon Renewables (Sarawak) Sdn Bhd (ZRSSB) has proposed subleasing a portion of land in Kuching, Sarawak from Zecon Solar Sdn Bhd in a related party transaction for RM54.36mil.
In a filing with Bursa Malaysia, Zecon said the proposal entails subleasing 302 acres for 30 years at a monthly rental rate of RM500 per acre. This translates to RM151,000 a month, and RM1.81mil annually. The land forms part of Kota Petra Green Technology Park in Kuching.
It has been approved for a 100 megawatt alternating current solar photovoltaic farm development. The proposal forms part of a power purchase agreement entered into by ZRSSB with Syarikat SESCO Bhd on Oct 22, 2025. ZRSSB will design, construct, own, operate and maintain the solar PV facility. — Bernama
