Binasat’s 51%-owned subsidiary, Borderless Connection Sdn. Bhd. (BCSB) enters into a Subcontract Agreement for engineering works, equipment supply, civil construction, installation works, testing, and commissioning works with Fabulous Sunview Sdn. Bhd. (FSSB) for the development of FSSB’s large-scale solar photovoltaic project (LSSPV) in Selangor.
FSSB is a private limited company incorporated in Malaysia on 1 March 2013. FSSB’s principal business activities are engineering, procurement, construction, and commissioning of solar photovoltaic and other renewable energy facilities, provision of solar photovoltaic construction and installation services, and associated services and products.
The Project’s scheduled completion date shall be 30th September 2023. The scheduled commercial operation date is 31st December 2023, subject to the execution of a supplementary power purchase agreement.
The total contract price of the Project is RM18.36 million payable to BCSB in accordance with the payment schedule based on the completed progress of the Project.