Introduction
 

MCB is pleased to announce that its 80%-owned subsidiary, Malakoff Silver Solar Sdn. Bhd. (“MSSSB”) has recently signed a 21-year Power Purchase Agreement (“PPA”) with Tenaga Nasional Berhad (“TNB”).

Under the PPA, MSSSB will design, construct, own, operate, and maintain a 470MWa.c. solar photovoltaic energy generating facility located at Windsor Estate in Larut and Matang, Perak Darul Ridzuan (“Facility” or “Project”), and will generate, deliver, and sell solar photovoltaic energy to TNB throughout the term of the PPA.

Information on MSSSB

MSSSB, a special purpose vehicle (“SPV”) incorporated to undertake the Project, is jointly owned by MCB and Solarvest Holdings Berhad with shareholdings of 80% and 20%, respectively.

Salient terms of the PPA

The PPA governs the obligations of the parties to sell and purchase the energy generated by the Facility for a 21-year term commencing from the scheduled commercial operation date, expected in the first quarter of 2028, in accordance with its agreed terms and conditions.

Financial effects

The signing of the PPA is not expected to have any material impact on the net assets and earnings of MCB Group for the financial year ending 31 December 2025. However, MCB Group expects positive future earnings contribution from its Facility from the commercial operation date for the span of 21 years.

Risk factors

The Company does not foresee any exceptional risk other than the normal operational risks associated with the Facility. Nevertheless, the Company will take the necessary steps to mitigate the risks as and when they occur.

Declaration of interest

None of the Directors, major shareholders of MCB, and persons connected to them has any interest, direct or indirect, in the PPA.
 

This announcement is dated 19 December 2025.