KUALA LUMPUR, 13 JULY: After establishing a collaborative agreement with Vsolar Group Bhd to provide engineering, procurement, construction, and commissioning (EPCC) services to the solar farm industry, Pasukhas Group Bhd hit limit up this morning, rising as much as 30 sen or 103.45 percent to its 10-month high of 59 sen. The counter was trading at 35 sen at the time of writing, still up six sen or 20.69 percent.
With 154.45 million shares moved this morning, it was the most actively traded stock.
Vsolar, on the other hand, was the second most actively traded stock, with 118.02 million shares moved.
After reaching to a high of two sen this morning, the counter was stable at 1.5 sen at the time of writing.
Both parties stated in a joint statement yesterday that they are launching a collaboration for the solar farm industry to prepare for the swath of solar projects expected to come online in the next 24 months.
Both firms will pool their efforts to form a project management, execution, and ongoing management team to handle any future large-scale solar (LSS) projects that require a turnkey operator to come online.
According to the statement, the cooperation has already began talks with a number of infrastructure and renewable energy-based entities to deliver a full solution package, including capex funding.
“The alliance aspires to be able to deliver a holistic funding, design, build, and operating platform to all grantees of the LSS 4 competitions,” they added.
Pasukhas will team up with Vsolar to deliver EPCC services to the solar farm industry./n
