09/09/2025

BIZ & FINANCE TUESDAY | SEPT 9, 2025

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Reservoir Link wins RM60m waste-to-energy facility contract PETALING JAYA: Reservoir Link Energy Bhd, an energy-related services provider, announce that wholly owned subsidiary RL Sigma Engineering Sdn Bhd has received a letter of award from Sage Promaster Sdn Bhd for the turnkey engineering, procurement, construction and commissioning (EPCC) of an industrial waste recovery facility in relation to waste renewable energy. The contract, scheduled to be completed within six months, is valued at about RM60.2 million. Under the scope of the contract, the group will be responsible for designing and supplying a robust and flexible industrial waste recovery facility, comprising civil and structural works, mechanical and electrical systems, as well as automation capabilities, to process up to 15,000 metric tons of raw waste materials. The facility aims to extract Safefuels, a proprietary alternative fuel developed by Sage Promaster, designed to generate renewable energy comparable to conventional fuels used in cement and power plants. Reservoir Link executive deputy chairman Thien Chiet Chai said the group aims to broaden its horizons with this meaningful project in the renewable energy space. “This award not only demonstrates the confidence of our clients in our capabilities to deliver integrated EPCC solutions but also aligns with our strategic vision of contributing to a more sustainable future through the adoption of alternative renewable energy sources. “As demand for clean energy solutions continues to rise, we remain steadfast in advancing our technical competencies and will continue diversifying our portfolio to capture growth in both the oil and gas and renewable energy sectors. “We look forward to successfully delivering this contract and will continue to make impactful initiatives to bring value to our key partners and stakeholders,“ he said in a statement. Reservoir Link is also involved in providing improved oil recovery services, laboratory studies and expert interpretative services on flow assurance and formation damage and the provision of sand management solutions. More recently, Reservoir Link has been involved in the implementation of solar photovoltaic projects for residential, com mercial, and industrial properties, as well as large-scale solar photovoltaic plants. These projects include the supply and installation of solar mounting systems and other engineering works involving civil, structural, mechanical, and electrical engineering.

Verdant Solar inks underwriting deal with Mercury Securities o IPO involves public issuance of 142 million new ordinary shares Lim (left) and Mercury Securities managing director Chew Sing Guan at the underwriting agreement signing session between Verdant Solar and Mercury Securities.

committed to ensuring a seamless experience for our customers, driven by our mission to make solar accessible to everyone,” he said in a statement. As an EPCC contractor, Verdant provides end-to-end delivery of turnkey solar PV projects, from initial design and engineering to equipment procurement, on-site installation, testing and commissioning, and after-sales O&M services through the Verdant Home App. Other services include the trading of solar products, including its in-house brand of solar ventilation systems, Verdant Star. “As we progress toward our IPO, it will not only strengthen our foundation but also enhance our ability to deliver greater value to our customers and stakeholders. As we look ahead, we remain committed to advancing our vision of making sustainable energy accessible and impactful for communities nationwide,” Lim said. The company is expected to be listed in October. Mercury Securities Sdn Bhd is the IPO’s principal adviser, sponsor, sole underwriter and sole placement agent.

employees, and key contributors. The remaining 76.12 million shares will be privately placed to selected investors. Proceeds from the IPO will be utilised to fund the group’s business expansion, which includes the establishment of branch offices in Malacca, Kuantan and Ipoh to serve customers in these areas. Furthermore, the company will undertake strategic investments, explore mergers and acquisitions opportunities, and enhance its digital infrastructure to strengthen operational excellence. The remaining proceeds will be used for working capital and listing expenses. Verdant managing director Lim Tzer Haur said the signing of the underwriting agreement marks a new chapter in the group’s journey. “At Verdant, our journey since 2015 has been defined by our experience in delivering high-quality solar PV system projects for residential properties, which has contributed significantly to our growth and reputation as a trusted end-to-end solar solutions and services provider. “For over a decade, we have remained

PETALING JAYA: Verdant Solar Holdings Bhd, a provider of engineering, procurement, construction and commissioning (EPCC) and operations and maintenance (O&M) services for solar photovoltaic (PV) systems in Malaysia, has taken a significant step towards its initial public offering (IPO) journey. The group signed an underwriting agreement with Mercury Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia. Verdant’s IPO involves the public issuance of 142 million new ordinary shares. Of these, 65.88 million shares are underwritten by Mercury Securities, including 40.88 million shares for public subscription via balloting, and 25 million shares reserved for eligible directors,

Decarbonisation springboard to drive Sarawak towards green, digital economy: Premier KUCHING: Sarawak regards the challenge of decarbonisation as a springboard to drive the state towards a green, digital and innovation led economy, according to Premier Tan Sri Abang Johari Tun Openg. On the summit, Abang Johari said it has been hailed not merely as a conference, but as a powerful catalyst for collaboration, inno vation, and investment in the sustainable mobility sector.

The Sarawak premier also emphasised that the ideas presented during the summit could play a transformative role in shaping policies, fostering new business opportunities, and empowering communities worldwide. “Sarawak is ready to actively participate in the global conversation. The state extends an open invitation for collaboration in research and development, joint ventures in clean technologies, capacity building, and know ledge exchange. “Let this summit be the starting point for new ideas, pilot programs, and even regional frameworks that advance sustainable mobility,” Abang Johari added. – Bernama

So much so, he said the effort is being implemented through the state’s Post Covid 19 Development Strategy 2030 (PCDS 2030), launched in 2022. “Central to this (PCDS 2030) roadmap is our aspiration to become a high-income and developed state by 2030, with economic growth firmly rooted in environmental sustainability,” he said in his speech at the opening ceremony of the Green Mobility Innovation Summit here yesterday. The text of his speech was read out by the State Minister of Education, Innovation and Talent Development Datuk Seri Roland Sagah Wee Inn.

Roland Sagah (second, left) officiating at the launch of Green Mobiliti Innovation Summit in Kuching yesterday. – BERNAMAPIC