Vsolar jumps 13.33% on inking MoU to develop solar energy generation facility

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KUALA LUMPUR (Oct 3): Vsolar Group Bhd shares jumped 13.33% at mid-morning today after its unit signed a memorandum of understanding (MoU) with Mattan Engineering Sdn Bhd to conduct a feasibility study for the development of a solar energy generation facility in Seremban.

At 10.02am, Vsolar rose 1 sen to 8.5 sen for a market capitalisation of RM32.82 million.

Vsolar said the facility will be developed on a parcel of land, measuring 121.4ha, that belongs to Permaju Industries Bhd's wholly-owned subsidiary Genbayu Gemilang Sdn Bhd.