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Jentayu Sustainables Bhd (formerly known as Ipmuda Bhd) on Tuesday proposed a private placement to raise as much as RM47.07 million mainly towards financing the group's pre-development expenditures.
IPMUDA Bhd, which will be known as Jentayu Sustainables Bhd with effect from Jan 10 next year, aims to be a pure renewable energy (RE) play in three years, with a slew of RE projects in the pipeline primarily in Sabah.
Based on corporate announcements and news flow on Wednesday (Dec 15), companies in focus on Thursday (Dec 16) may include: Serba Dinamik Holdings Bhd, ATA IMS Bhd, Dialog Group Bhd, Censof Holdings Bhd, Malaysia Airports Holdings Bhd, Allianz Malaysia Bhd, JHM Consolidation Bhd, TH Plantations Bhd, China Automobile Parts Holdings Ltd, Ipmuda Bhd, Advance Information Marketing Bhd and Kamdar Bhd
Ipmuda Bhd, which will soon change its name to Jentayu Sustainables Bhd, said it has received the Sabah government’s approval for its proposal to develop two hydro plants in Sipitang with total capacity of 160 megawatts (MW). Ipmuda said the State government gave the greenlight to the group for “exclusive water and land rights to develop run-of-river hydroelectric cascading schemes” in Sungai Maligan and Ulu Padas, Sipitang, with installed capacity of 31MW and 129MW respectively.