Kuala Lumpur: KPower Bhd’s wholly-owned subsidiary, KPower Engineering Sdn Bhd and Tellhow International Engineering & Contracting Co Ltd (Tellhow), have secured a RM70 million works contract from One River Power Sdn Bhd, involving small hydropower plants in Kota Marudu, Sabah.
Under the contract, KPower Engineering and Tellhow will take over and complete the engineering, design, procurement, construction and commissioning (EPCC) of the small hydropower plants in Sg Bengkoka Upper, Sg Bengkoka Lower and Sg Togohu in Kota Marudu, Sabah, with a total capacity of 29.1 megawatts.
Tellhow is a subsidiary of Shanghai-listed Tellhow Sci-Tech Co Ltd, KPower said in a Bursa Malaysia filing, Monday.
“The EPCC contractor shall complete all the works in accordance with the terms and requirements of the EPCC contract to achieve the target completion date on Dec 31, 2022,” it said.
The group added that the award is a recurrent related party transaction due to the relationships of the interested director and group chief financial officer of KPower with One River Power.
KPower executive chairman/group managing director Mustakim Mat Nun and group chief financial officer Amirul Afif Abd Aziz are both indirect shareholders of One River Power with an effective interest of 70 per cent.
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