Solar District Cooling Group Berhad (“SDCG”) is pleased to announce its wholly-owned subsidiary, Solar District Cooling Sdn Bhd has signed a Memorandum of Understanding (“MOU”) with Serikandi Oil Field Services Sdn Bhd (“Serikandi”).
SDCG and its subsidiaries (“Group”) are principally involved in the provision and maintenance of Building Management Systems (“BMS”), solar thermal systems and energy saving services. The Group has a proven track record of enhancing energy efficiency across healthcare, hospitality and industrial sectors. SDCG Group is involved in providing energy performance services to the concession companies that are providing hospital support services for public hospitals. The concessionaires engaged SDCG Group as a subcontractor to carry out energy efficiency work related to the installation of hybrid solar thermal hot water system, which sometimes also include retrofitting of fluorescent lighting of LED lighting.
This collaboration is to strengthen and expand business opportunities in solar air-conditioning, solar thermal systems, and energy-saving services in Brunei Darussalam. This strategic collaboration will also include the provision and maintenance of BMS, gas-fired chillers, and chilled water systems.
Managing Director of SDCG, Mr. Edison Kong commented, “This MOU represents an exciting opportunity for SDC to expand our footprint into Brunei in partnership with Serikandi. Together, we are committed to introducing advanced energy solutions such as solar air-conditioning, solar thermal systems, and comprehensive building management services that can significantly enhance energy efficiency for clients across Brunei. We believe this collaboration will provide a platform to share knowledge and innovate in the renewable energy sector, driving sustainable practices.”
Director of Serikandi, En. Shaikh Khalid bin Shaikh Hj Ahmad added, “Partnering with SDC aligns with our strategic goal of advancing the adoption of renewable energy in Brunei. By collaborating on solar air-conditioning, thermal systems, and building management solutions, we are well-positioned to address the growing demand for sustainable energy and operational efficiency in the region.”
The MOU will facilitate the exchange of information and expertise, as well as cooperation on potential business opportunities in Brunei. The agreement underscores both companies’ commitment to driving sustainability in energy management and meeting the needs of clients seeking reliable and energy-efficient solutions.
On the eve of its listing, SDCG secured two contracts worth RM8.13 million from Mitrajaya Construction Sdn Bhd for sub-contract works for one block of 11-storey hospital for Avisena Healthcare Sdn Bhd in Shah Alam, and is expected to be completed by May 2027. On 24 September 2024, they have also entered into a collaboration agreement with Sunrise Shares Energy Sdn Bhd to promote the adoption of renewable energy solutions and sustainability advisory services across multiple sectors in Malaysia.
As at 4 October 2024, 5:00 P.M., SDCG’s share price closed at RM0.465 with a market capitalisation of RM197.1 million.