19 Aug 15 – Press Release – PUC Founder signs MOU with Bioalpha
PUC Founder signs MoU with Bioalpha to share land
PETALING JAYA, 19 Aug 2015 – The Board of Directors of PUC FOUNDER (MSC) BERHAD (“PUCF” or the “Company”), a Bursa Malaysia ACE market listed company (Stock code: 0007) is pleased to announce that PUC Founder and Bioalpha Holdings Bhd (“Bioalpha”), has today entered into a Memorandum of Understanding (“MoU”) in relation to the collaboration where Bioalpha, to have the planting activity on the land owned by PUCF or subsidiary of PUCF upon which PUCF’s solar photovoltaic (“PV”) plants are to be constructed and operated if the said land is suitable for the planting activity. PUCF also intends to construct and operate solar PV plants on the lands owned by Bioalpha which are used by Bioalpha for the planting activity if it is suitable (“Land Rights Sharing”).
PUC Founder Group Managing Director, Mr. Cheong Chia Chieh commented, “This collaboration would bring mutual benefit to both PUC Founder and Bioalpha. The land resources in Malaysia is limited, and by collaborating, synergy would be formed for the mutual benefit of the companies. We want to fully make use of the land below the installed solar panels to create full economic values, and by doing this, a second income would be generated from the under-the-roof activity such as herbal plantation while the solar panel installed on the roof continues to generate power.”
“The main objective of this MoU is to create a brand new business model of solar power plants. In Malaysia and abroad, most of the solar farms or plants are ground-mounted, whereby the land is used solely to install the solar panel. Now, apart from exploring its full economic values, we can also contribute to the nature by transiting to a low carbon infrastructure which in turn making this an environmental-friendly project which is also one of our corporate social responsibility effort.”
On 4 August 2015, PUC Founder has announced to propose ICULS to raise funds up to RM127 million to kick off the 50MW solar power plant project.
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/
About Bioalpha Holdings Berhad:
Bioalpha Holdings Berhad (BHB) (Stock code: 0179) is principally involved in the manufacturing and sale of semi-finished and finished health supplement products, as an ODM, as well as under the Company’s proprietary house brands. The company is expecting a 30% revenue jump starting this year as they are fuelled by outlet openings and implementation of a royalty and e-commerce program by Q4 2015.
Corporate website: http://www.bioa.net/bioa.asp