PETALING JAYA: Reservoir Link Energy Bhd’s 51%-owned subsidiary Founder Energy Sdn Bhd has received a RM8.42mil contract from Solar Bina Engineering Sdn Bhd for subcontracting works for the proposed development of a 100MWac large scale solar photovoltaic project in Marang, Terengganu.

       In a filing with Bursa Malaysia, it said the contractual delivery date of the purchase order (PO) is March 31, 2022.

       “The PO secured will not have any effect on the share capital, and shareholdings of the company’s substantial shareholders, and there will not be any immediate effect on net assets per share and gearing of the company.

       “However, the PO is expected to contribute positively towards the earnings and earnings per share of the company and its subsidiaries during the duration of PO,” said the group.

       Founder Energy director Lee Seng Chi is also a director and the sole shareholder of Solar Bina Engineering, making him an interested party in the transaction.