1.     Introduction

The Board of Directors of Uzma Berhad (“Uzma” or “the Company”) is pleased to announce that Uzma Environergy Sdn. Bhd. (“UENV”), a direct wholly-owned subsidiary of the Company has accepted and signed a letter of award (“Contract”) from Samaiden Sdn. Bhd. dated 13 December 2024 today with respect to the Sub-Contract Works for a 13.42MWac Solar Photovoltaic Plant located in Sungai Petani, Kedah (“Project”), to be developed under the Corporate Green Power Programme (“CGPP”) administered by the Suruhanjaya Tenaga Malaysia.  

2.     Salient Terms

The salient terms of the Contract are as follows:

(a)   The scope of the works comprises of development of solar generating facility including the GENCO’s interconnection facility, interconnector and the GENCO works as defined in the Connection Agreement entered into between Tenaga Nasional Berhad and the GENCO.

(b)   The contract price is Ringgit Malaysia Forty-Four Million One Hundred Fifty-Thousand (RM44,150,000.00) on lump sum fixed price basis.

(c)   The contract duration is 8 months 14 days and the Scheduled Commercial Operation Date is 30 August 2025.

3.     Risk Factors

Potential risk factors include project operational and execution risks, work schedules and adverse weather conditions.

4.     Financial Effects

The Contract will not have any effect on the share capital and shareholding structure of the Company. However, it is expected to contribute positively towards the earnings and net assets per share of the Company for the financial year ending 30 June 2025 and onwards until the expiry of the Contract.  

5.     Directors’ and Major Shareholders’ Interests

None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of Uzma has any direct or indirect interest in the Contract.

6.     Directors’ Statement

The Board of Directors of the Company, after considering all the relevant factors, is of the opinion that the Contract is in the best interest of the Company.

The Company will make further announcements on this matter as and when it deems expedient.

This announcement is dated 19 December 2024.