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annual report | 2012 Gunung Capital Berhad (330171-P)
16
PERFORMANCE REVIEW (cont’d)
GROUP FINANCIAL CALENDAR (cont'd)
6 August
Announcement on the financial results for
the second quarter ended 30 June 2012.
14 August
Announcement that the Company
subscribed for an additional 600,000
new ordinary shares of RM1.00 each in
Gunung Hydropower Sdn Bhd (“GHSB”)
at par for a total cash consideration
of RM600,000. Simultaneously, Perak
Hydro Renewable Energy Corporation
Sdn Bhd (“PHREC”) a private limited
company incorporated in Malaysia under
the Companies Act, 1965 on 14 July
2010 had subscribed for 300,000 new
ordinary shares of RM1.00 each in GHSB
at par for a total cash consideration
of RM300,000.00 (collectively referred
to as “Subscription”). Pursuant to the
Subscription, the total issued share
capital of GHSB increased from 100,000
ordinary shares of RM1.00 each to
1,000,000 ordinary shares of RM1.00
each. As a result of this Subscription,
GHSB ceased to be a wholly-owned
subsidiary of Gunung and has become
a 70% owned subsidiary.
16 August
Announcement that GPB Corporation
Sdn Bhd (“GPB”), a wholly owned
subsidiary of Gunung, had on 16
August 2012 received an offer letter
from University Putra Malaysia (“UPM),
Serdang, Selangor to operate a public
bus service within the campus of UPM.
The public bus service operates within
the campus of UPM involving 12 units of
buses with a 44 passenger capacity. The
total contract value is RM490,440.00. The
service will be in operation for a period
of sixty-one (61) days from September
2012 to October 2012.
3 September
Announcement that the Company, had
on 3 September 2012 entered into a
Joint Venture Agreement (“Agreement”)
with Perak Hydro Renewable Energy
Corporation Sdn Bhd (“PHREC”) to jointly
carry out the development of selected
renewable energy mini-hydropower
plants, in the State of Perak, on a Build
Operate and Own (“BOO”) concept,
and under the Sustainable Energy
Development Authority (“SEDA”)
Feed-in-Tariff Programme.
The Feed-in-Tariff (FiT) system under the
Renewable Energy Act 2011 supports the
developers of renewable energy by fixing
a premium tariff for electricity generated
from non fossil fuel sources, such as
mini-hydro schemes. The introduction of
the Renewable Energy Act 2011 provides
a mandatory requirement for the utility
provider (Tenaga Nasional Berhad) to
buy Renewable Energy power. In the case
of mini-hydro plants having an installed
capacity of up to and including 10MW,
the FiT rate payable by the utility is 24
sen per kilowatt hour for a mandatory
period of twenty one (21) years.
23 November
Announcement on the financial results
for the third quarter ended 30 September
2012.
January - December
Throughout the financial year ended
31 December 2012 the Company made
various announcements regarding
the conversion of a total of 1,833,398
warrants into new ordinary shares, and
the subsequent listing of the new shares
on the Main Market of Bursa Malaysia
Securities Berhad.