Reported on: The Edge Market
KUALA LUMPUR (Jan 31): Gunung Resources Sdn Bhd, a wholly-owned unit of Gunung Capital Bhd, has been awarded a project management contract worth RM9.45 million for the procurement, construction and commissioning of a 2MW installed capacity small hydro power plant in Gopeng, Perak.
In a bourse filing today, the group said the contract was awarded by Conso Hydro RE Sdn Bhd — a 50.1% indirectly owned subsidiary of the group — via a letter of award dated Jan 30.
Following the completion of the contract, Gunung Resources will be given the option to operate and maintain the hydropower plant. The contract is expected to last 12 months.
Gunung Capital was last traded on Jan 29 at 32 sen, valuing the company at RM75.58 million.