AMPROP wishes to announce that its wholly-owned subsidiary, namely Amcorp Perting Hydro Sdn Bhd (Amcorp Perting) had signed a REPPA with TNB on 23 February 2015 for the supply and delivery of 6.0MW renewable energy generated from Amcorp Pertings mini-hydro power plant located at Sungai Perting, Daerah Bentong, Pahang.
Under the terms of the REPPA, TNB shall purchase the electricity generated from the 6.0MW mini-hydro power plant from Amcorp Perting for a concession period of 21 years and the estimated value of the REPPA is approximately RM8.8 million per year.
Amcorp Perting has been generating clean renewable energy from its existing 4.0MW mini-hydro power plant since December 2009 and has recently upgraded the capacity to 6.0MW. This REPPA superseded the earlier REPPA dated 1 March 2012 entered between Amcorp Perting and TNB in relation to the supply and delivery of renewable energy generated from the existing mini-hydro power plant.
The signing of the REPPA will not have any effect on the issued and paid-up share capital and substantial shareholders' shareholdings of AMPROP and will not have any material effect on the earnings and net assets of AMPROP Group for the financial year ending 31 March 2015. However, the REPPA is expected to contribute positively to the future earnings of AMPROP Group.
None of the Directors and/or major shareholders of AMPROP and/or persons connected to them have any interest, direct or indirect, on the said matter.
This announcement is dated 24 February 2015.