Pasukhas share price hits limit up after kicking off collaboration for solar farm industry

Pasukhas share price hits limit up after kicking off collaboration for solar farm industry
-A +A

KUALA LUMPUR (July 13): Pasukhas Group Bhd hit limit up this morning as it rose as much as 30 sen or 103.45% to its 10-month high of 59 sen, after sealing a collaborative agreement with Vsolar Group Bhd to provide engineering, procurement, construction, and commissioning (EPCC) services to the solar farm industry.

At the time of writing, the counter pared gains at 35 sen, still up six sen or 20.69%.

The counter was the most actively traded stock this morning, with 154.45 million shares traded.

Meanwhile, Vsolar was the second most actively traded stock, with 118.02 million shares changing hands.

The counter was unchanged at 1.5 sen at the time of writing, after rising to a high of two sen this morning.

Yesterday, both parties announced in a joint statement, they are kicking off a collaboration for solar farm industry to cater for the swathe of solar projects coming on-stream in the next 24 months.

The collaboration will see both companies combine their resources to create a project management, execution and ongoing management team to cater for any upcoming large scale solar (LSS) project that requires a turnkey operator to come on stream.

According to the statement, the collaboration has already begun negotiations with several infrastructure and renewable energy-based funds to also provide a complete solution package, inclusive of capex funding.

“The collaboration aims to be able to provide all the awardees of the LSS 4 tenders a holistic financing, design, build and operating platform,” they said.

Read also: 
Pasukhas to collaborate with Vsolar to provide EPCC services to solar farm industry

Joyce Goh