08 Oct 15 – Press Release – PUC Founder Ready For More FiT Quota
PUC Founder Ready For More FiT Quota
PETALING JAYA, 8 Oct 2015 – The Board of Directors of PUC FOUNDER (MSC) BERHAD (“PUC Founder” or the “Company”), a Bursa Malaysia ACE market listed company (Stock code: 0007) today wishes to announce that its wholly-owned subsidiary, Face ID Worldwide Sdn Bhd has changed its name to Maxgreen Energy 2 Sdn Bhd with effect from 7 October 2015. The Certificate of Incorporation on Change of Name of Company (Form 13) issued by the Companies Commission of Malaysia was received on 8 October 2015.
Group Managing Director, Mr. Cheong Chia Chieh commented, “We would like to move forward with our diversification plan expanding into the Energy sector. Last year we have been awarded with the 1 Mega-watt (“MW”) Solar Photovoltaic (“PV”) Feed-in-Tariff (“FiT”) quota, and now we are preparing to apply for the year 2016 Solar PV quota.”
According to announcement on the Sustainable Energy Development Authority Malaysia (“SEDA”) website, the proposed Solar PV (Non- Individual >425kW) category will be open for application on November 2015.
Mr. Cheong continued, “Our 1MW solar PV plant in Sungai Petani is currently under construction and would be able to commence operations in December. We are expecting revenue contribution from the plant soonest at first quarter next year. With steady revenues coming in, together with our fund raising exercise, we will be able fund and realize our talks into further expanding our share in the energy sector.
About PUC Founder (MSC) Berhad:
PUC Founder (MSC) Berhad (Stock code: 0007) is an investment holding group, principally engaged in three business segments namely, Media & Advertising; E-payment Services; and Renewable Energy. It was incorporated in Malaysia by China Founder Group on 3rd November 1997 bearing the Company Number 451734-A, and is listed on the ACE Market of Bursa Malaysia on 3rd April 2002. It is one of the first companies in Malaysia to qualify for the Multimedia Super Corridor or MSC status. The company’s businesses have expanded throughout Asia.
Corporate Website: http://www.founder.com.my/