KUALA LUMPUR (Dec 12): Cypark Resources Bhd has bagged two contracts worth a combined RM450 million to build a solar photovoltaic energy generating facility in Sik, Kedah and another one at Empangan Terip, Negeri Sembilan.

In separate filings with Bursa Malaysia today, Cypark said its wholly-owned subsidiary Cypark Ref Sdn Bhd has accepted the letters of award from Viva Solar Sdn Bhd for the Sik project, and Cypark Estuary Solar Sdn Bhd for the Empangan Terip project on a turnkey basis.

Work on the two plants will commence on the date of notice issued by Viva Solar and Cypark Estuary Solar respectively and the time of completion is Aug 4, 2020.

"The board of directors is of the opinion that the awards are in the best interest of the company. The awards are expected to contribute positively to the future earnings and net assets per share of the group," said Cypark.

Cypark shares closed down one sen or 0.42% at RM2.37 today, with 266,900 shares done, bringing it a market capitalisation of RM723.65 million.