<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 23): The Energy Commission Malaysia has selected five bidders for the Large Scale Solar Photovoltaic (LSSPV) power plants in Malaysia, which are slated for commercial operation in 2021.</p></div>

<div class=newsTextDataWrapInner><p>“The selection of the bidders are based on bids with the most competitive offer prices and meeting all the request for proposals (RFP) requirements” said the commission.</p></div>

<div class=newsTextDataWrapInner><p>ib vogt GmbH, Coara Solar Sdn Bhd, Cypark Resources Bhd and Impian Bumiria Sdn Bhd have been selected for solar plants in Marang, Terengganu with each plant having an export capacity of 100 megawatts of alternating current (MWac).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>JKH Renewables Sdn Bhd and Solarpack Asia Sdn. Bhd have been awarded a plant in Kuala Muda, Kedah, that has a 90.88 MWac export capacity.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, ENGIE Energie Services S.A. and TTL Energy Sdn Bhd have been awarded a 100MWac export capacity solar plant in Kerian, Perak.</p></div>

<div class=newsTextDataWrapInner><p>In addition, Konsortium Beseri Jaya Sdn Bhd and Hanwha Energy Corporation Singapore Pte Ltd have won a 100 MWac plant in Pekan, Pahang.</p></div>


The Energy Commission Malaysia has selected five bidders for the Large Scale Solar Photovoltaic (LSSPV) power plants in Malaysia, which are slated for commercial operation in 2021.

“The selection of the bidders are based on bids with the most competitive offer prices and meeting all the request for proposals (RFP) requirements” said the commission.

Energy Commission selects five bidders for LSSPV power plants

Electrification is driving the fourth industrial revolution. Access to secure, sustainable, and affordable electricity is critical for data centres powering artificial intelligence models, digitalisation of industrial processes, and growth of the electric vehicle sector.

JSB - For a Sustainable Future

Main Market-bound automotive seats manufacturer Feytech Holdings Bhd (KL:FEYTECH), which is slated to float its shares on Bursa Malaysia next Tuesday (May 21), posted a net profit of RM16.88 million in the first quarter ended March 31, 2024 (1QFY2024).

Main Market-bound Feytech posts RM16.88m profit for 1Q

Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.

Maxis, ITMAX, PIE Industrial, Malayan Flour Mills, PPB, Epicon, NationGate, Ho Hup, Sarawak Cable, GIIB

Destini Bhd (KL:DESTINI) said a Dutch shipbuilding company has commenced arbitration proceedings against the group and its subsidiary, claiming up to €3.03 million (RM15.45 million) over alleged unpaid invoices.

Dutch firm initiates arbitration against Destini over alleged unpaid invoices

Malaysia and Uzbekistan can work together to explore new areas of digitalisation, energy transition and equip their people with new knowledge in the field of Artificial Intelligence (AI), Prime Minister Datuk Seri Anwar Ibrahim said Friday.

Anwar touts partnership with Uzbekistan on digitalisation, energy transition

Every member of Parliament (MP) and state assemblyman in Bersatu has been given 14 days to confirm their adherence to a party directive issued by its supreme council (MPT) on Friday.

Bersatu reps given 14 days to pledge loyalty to party

Communications Minister Fahmi Fadzil believes that there is an organised movement by certain parties to disseminate false information on social media platforms, especially on Facebook, to create unrest among the public.

Fahmi says unearthed concerted effort to spread false info on social media

Wall Street's main indexes were largely flat in early trading on Friday as investors took a breather from the week's rally driven by growing expectations of US interest-rate cuts this year.

Wall Street muted with weekly gains in sight on rate-cut hopes

Economists have maintained their 2024 economic growth forecast for Malaysia at between 3.5% and 4.7% after Bank Negara Malaysia (BNM) announced first quarter gross domestic product (GDP) growth accelerated faster than expected.

Economists keep 2024 GDP forecast after better-than-expected 1Q data

Police will seek a remand order at the Magistrates Court for seven individuals who were detained on Friday morning in connection with the Ulu Tiram police station attack said Johor police chief M Kumar.

Ulu Tiram police station attack: Seven individuals to be remanded on Saturday

<p>Tan Sri Mokhzani Mahathir will step down as the non-executive chairman of Maxis Bhd (KL:MAXIS), effective from June 30, after 15 years sitting on the board of the company.</p>


Mokhzani Mahathir to step down as Maxis chairman after 15 years on board

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

<p>PPB Group Bhd (KL:PPB) is planning to invest RM327 million in its film exhibition and distribution segment, which houses Golden Screen Cinemas, over the next five years.</p>


PPB Group to invest RM327 mil in film segment over next five years

<p>Kawan Renergy Bhd’s (KL:KENERGY) said investors have snapped up the 27.5 million shares it made available to the public for its initial public offering (IPO) at 30 sen per share.</p>


Kawan Renergy's 27.5 mil IPO shares for public oversubscribed by 95 times 

<p>Prime Minister Datuk Seri Anwar Ibrahim stressed that claims that 25% of the remaining shares in Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT) would be owned by a pro-Zionist company are baseless.</p>


Anwar: Opposition's claims that pro-Israel company will own MAHB shares only to incite hatred

<p>Malayan Flour Mills Bhd (KL:MFLOUR) said its net profit has more than tripled for the first quarter from a year earlier, thanks to higher margins in its flour and grain segment from lower wheat prices.</p>


Malayan Flour Mills more than triples net profit in 1Q, to invest further

<p>Prime Minister Datuk Seri Anwar Ibrahim wants firm action to be taken against anyone attempting to create chaos in Malaysia to the extent of causing deaths.</p>


Firm action will be taken against anyone who resorts to violence, says Anwar

<p>Ho Hup Construction Company Bhd (KL:HOHUP) said its 52%-owned unit Golden Wave Sdn Bhd (GWSB) has applied with the High Court to be placed under judicial management.</p>


Ho Hup's property development unit applies for judicial management 

<p>Partial pension fund withdrawals are expected to boost economic activity, while having little impact on inflation, Bank Negara Malaysia (BNM) said on Friday.</p>


BNM expects limited inflation impact from EPF Account 3, civil servant salary rise

<p>Action by Bank Negara Malaysia (BNM) and the government to promote consistent inflows into the foreign exchange (forex) market has eased the pressure on the ringgit against the US dollar, the central bank’s governor Datuk Shaik Abdul Rasheed Abdul&nbsp;Ghaffour said.&nbsp;</p>


BNM governor says intervention eased pressure on ringgit

<p>KUALA LUMPUR (May 17): Malaysia’s current account balance (CAB)&nbsp;surplus surged to RM16.2 billion,&nbsp;equivalent to 3.5% of the gross domestic product (GDP) in the first quarter of 2024 (1Q2024), mainly fuelled by the income and goods accounts.&nbsp;</p>


DOSM: Malaysia’s 1Q2024 current account balance surplus higher at RM16.2b

<p>ASTANA, Kazakhstan&nbsp;(May 17): Kazakhstan&nbsp;has agreed to give opportunities to Malaysian companies to explore various fields in the Central Asian country, including mining and renewable energy.</p>


Anwar: Kazakhstan agrees to let Malaysian companies explore opportunities in various fields

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EVENING 5: Five things you need to know today

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.</p>


<p>A summary of how key Bursa Malaysia indices and the ringgit performed on Friday.</p>


FBM KLCI rises 0.34% to 1,616.62 on May 17, 2024

<p>PIE Industrial Bhd's net profit for the first quarter ended March 31, 2024&nbsp;(1QFY2024)&nbsp;dropped 31.24% to&nbsp;RM9.7 million, from RM14.11 million a year earlier,&nbsp;due to reduced demand caused by shortages of major integrated circuits.</p>


PIE Industrial posts 31% drop in 1Q earnings as integrated circuit shortages hit demand

<p>KUALA LUMPUR (May 17): Sabah Chief Minister Datuk Seri Hajiji Noor emphasised that although the state government appealed against the Sabah Law Society’s (SLS) legal challenge regarding the 40% net revenue special grant, it has not compromised its official position to the entitlement.</p>


Sabah will never compromise on right to 40% revenue, Hajiji stresses

<p>Two years after it was listed on the ACE Market of Bursa Malaysia, pawnshop operator Pappajack Bhd is seeking a transfer to the Main Market.</p>


ACE Market-listed Pappajack seeks transfer to Main Market

<p>HONG KONG (May 17): Chinese electric vehicle (EV) maker Xpeng&nbsp;said on Friday that the new US tariffs on Chinese EVs are detrimental to achieving carbon neutrality and green energy transition.</p>


Xpeng says US tariffs on Chinese EVs detrimental to meeting carbon neutrality

<p>NationGate Holdings Bhd (KL:NATGATE) has secured approval from the Securities Commission Malaysia (SC) for its transfer to the Main Market of Bursa Malaysia.</p>

<p>In a filing to the bourse on Friday, NationGate said the approval was granted under an "accelerated transfer process".</p>
