Glomac Technology Sdn. Bhd. (GTSB), a subsidiary of Glomac has signed a Memorandum of Understanding (MoU) with Tenaga Nasional Berhad to explore potential business opportunities related to solar and green energy facilities.
The MOU is valid for 24 months unless extended in writing by mutual agreement by parties, or earlier terminated in writing by any party in accordance with the provisions of the MoU.
The MoU is not expected to have any material immediate effect on the earnings, net assets, or gearing of Glomac Group for the financial year ending on April 30, 2023, and will not affect the share capital and substantial shareholders’ shareholdings of Glomac.
Although Tan Sri Dato’ Mohamed Mansor Bin Fateh Din and Datuk Seri FD Iskandar Bin Tan Sri Dato’ Mohamed Mansor are related parties, none of the directors, major shareholders, chief executive of the Company and/or persons connected with them have any interest, direct or indirect, in the MoU.