KUALA LUMPUR (Feb 16): Shares of COMPUGATES HOLDINGS BHD [], which had seen very active trade recently, said on Thursday it had recently submitted proposals for various solar projects in Sabah valued at more than RM2 billion.
At midday, its share price was up 0.5 sen to 11.5 sen with 32.30 million shares done.
The FBM KLCI fell 11.39 points or 0.73% to 1,549.91. Turnover was 1.16 billion shares valued at RM802.26 million. The broader market was weaker with 590 losers to 164 gainers and 285 stocks unchanged.
Compugates stated the outcome of the proposals was not known yet “and there is no certainty that the company would be awarded those projects”.
It issued the statement after a news report stated the company was expected to clinch several solar-based projects in Sabah worth over RM2 billion, and driving Compugates’ growth for its green renewable energy solutions. The report also stated Compugates was targeting bigger projects in Sabah and would be setting up a plant soon for around RM30 million.
On the plant, Compugates said on Thursday the proposal would hinge on it securing the projects and subject to the conditions in the distributorship and licence and manufacturing agreement entered into with ETI Tech (M) Sdn. Bhd.
“The board of directors of the company has yet to make a decision on the setting up of the plant which is preliminary at this juncture,” it said.
At midday, its share price was up 0.5 sen to 11.5 sen with 32.30 million shares done.
The FBM KLCI fell 11.39 points or 0.73% to 1,549.91. Turnover was 1.16 billion shares valued at RM802.26 million. The broader market was weaker with 590 losers to 164 gainers and 285 stocks unchanged.
Compugates stated the outcome of the proposals was not known yet “and there is no certainty that the company would be awarded those projects”.
It issued the statement after a news report stated the company was expected to clinch several solar-based projects in Sabah worth over RM2 billion, and driving Compugates’ growth for its green renewable energy solutions. The report also stated Compugates was targeting bigger projects in Sabah and would be setting up a plant soon for around RM30 million.
On the plant, Compugates said on Thursday the proposal would hinge on it securing the projects and subject to the conditions in the distributorship and licence and manufacturing agreement entered into with ETI Tech (M) Sdn. Bhd.
“The board of directors of the company has yet to make a decision on the setting up of the plant which is preliminary at this juncture,” it said.
