24 Aug 15 – Press Release – PUC Founder works with PW Consolidated to venture into Biogas Energy
PUC Founder works with PW Consolidated to venture into Biogas Energy
PETALING JAYA, 24 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 the wholly subsidiary of PUC Founder, Founder Energy Sdn Bhd (“FESB”) has on today entered into a Memorandum of Understanding (“MoU”) with PW Consolidated Bhd (“PWC”) in relation to the collaboration and working together to build and operate for an ecotype biogas electricity plant (“Project”) through the cooperation exercise such as a joint venture and/or investment scheme.
PUC Founder Group Managing Director, Mr. Cheong Chia Chieh commented, “This collaboration would bring mutual benefit to both PUC Founder and PWC. This collaboration would bring the company one step closer to realise our goal as the biggest player in the renewable energy sector.”
PWC is in the business of providing the integrated livestock farming services in Malaysia. It has broiler and layer farming businesses in the states of Penang, Perak and Kedah and is able to provide fresh chicken droppings as waste to biogas conversion and fertilizer manufacturing.
“In Malaysia, usually there are two ways to dispose chicken droppings. The first would be to hire services to dispose the chicken droppings into the dump, or second, convert the chicken droppings into fertilisers. Both ways would incur high costs to the business.”
Mr. Cheong continued, “We want to further expand our renewable energy business into the Biogas energy. Chicken droppings are also resources that should not go to waste. We want to fully utilized what seem to be unneeded or unwanted, and explore its full economic value. To venture into Biogas energy, we will conduct feasibility study together with PWC, and we hope to seek a win-win solution for both companies. By venturing into Biogas energy, chicken droppings’ disposal would create less pollution to the environment, instead, it will help to conserve the nature when it becomes the raw material to generate renewable energy.”
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 PW Consolidated Berhad:
PW Consolidated Berhad (Stock code: 7134) was incorporated on 19 February 1997 and was listed on Second Board of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 3 June 2002 and subsequently was transferred to the Main Board of Bursa Securities (now known as the Main Market of Bursa Securities) on 28 January 2004. PWC is in the business of integrated livestock farming. PWC has the largest broiler farming operations in the northern region and has fully integrated poultry operations in Malaysia.
Corporate website: http://www.pwconsolidated.com.my/