1. NEW CHILLER AND AIR-HANDLING UNITS (“AHU”) PURSUANT TO CHILLER ENERGY EFFICIENCY PERFORMANCE CONTRACT ("cEPC")
The Board of Directors of G Capital Berhad (“GCAP” or “the Company”) wishes to announce that G Solar Energy Sdn Bhd (“G Solar Energy”), a 100%-owned subsidiary of the Company had on 24 April 2025, completed the handover of Chiller Efficiency Measures (“CEM”) solutions, including replacing new chiller and Air-Handling Units (“AHU”) of the Chiller Energy Efficiency Performance Contract (“cEPC”) with Perbadanan Pengurusan Terminal 1 [Strata Book No. : 89 / Ref No. PTG NS 13/883/148] (“PPT1”) and York (Malaysia) Sales & Service Sdn. Bhd. [Company Registration No. 198801001139 (168496-T)] (“York”).
Of the scope of works stipulated in the cEPC dated 31 July 2024, G Solar Energy and York appointed by PPT1, shall deliver CEM solutions for the premise located on Terminal One Shopping Centre, 20B, Jalan Lintang, 70200 Seremban, Negeri Sembilan, Malaysia (“the Plant”).
York is a company incorporated under the laws of Malaysia and having its business address at Luxor Tech Centre, Level 2, 1A, Jalan Teknologi 3/4 & PJU 5, Taman Sains Selangor, 1, Kota Damansara, 47810 Petaling Jaya, Selangor Darul Ehsan, Malaysia.
The parties to cEPC have accepted CEM handover completed on 24 April 2025.
2. INFORMATION ON PPT1
PPT1 is a Management Corporation formed under Section 39(2) Strata Title Act 1985 (Act 318) registered with Department of Land and Mine of Negeri Sembilan. It currently manages Terminal One Shopping Center of Seremban, Negeri Sembilan, Malaysia.
The premise is a five-storey building with a lettable area of the 32363sq meters encompassing with 179 shop lots built.
3. FINANCIAL EFFECTS OF THE COMPLETION
Satisfying certain performance obligations of the cEPC, G Solar Energy have recognised RM4,260,000 revenue the financial year ended 31 December 2024. The remaining contract value of RM403,200 does not have any material impact on the earnings and net assets of the Group for the financial year ending 31 December 2025.
4. DIRECTORS AND SUBSTANTIAL SHAREHOLDERS’ INTEREST
None of the Directors or major shareholders of GCAP and persons connected with them has any direct or indirect interests, in the cEPC.
5. STATEMENT BY DIRECTORS
The Board of GCAP is of the opinion that the completion of CEM handover pursuant to the cEPC is in the best interest of the Group.
6. APPROVAL REQUIRED
The completion of CEM handover pursuant to the cEPC does not require the approval of shareholders of the Company, Bursa Malaysia Securities Berhad or Securities Commission Malaysia.
This announcement is dated 25 April 2025.