Ann Joo wins RM61.89 million solar infrastructure subcontract
The work will connect a solar plant of about 100 megawatts to the national grid, with completion expected by the third quarter of 2027.
Ann Joo Resources Bhd said its indirect wholly owned subsidiary, IAC Infrastructure Sdn Bhd, has won a RM61.89 million subcontract for electrical infrastructure at a solar power plant in northern Peninsular Malaysia.
In its Bursa Malaysia filing, the steelmaker said an engineering, procurement, construction and commissioning (EPCC) contractor awarded the work. Ann Joo cited confidentiality obligations for withholding the contractor’s identity.
IAC Infrastructure will design and build the facilities and transmission lines linking the plant to the national electricity grid, as well as test and commission them. The plant has a generation capacity of about 100 megawatts (MW). Completion of the project is expected by the third quarter of 2027.
Ann Joo expects no immediate material effect on earnings, gearing or net assets in FY2026, which ends on Dec 31, 2026. It said the subcontract is expected to make a positive earnings contribution in FY2027.
IAC Infrastructure also secured a RM37.4 million contract in May for a battery energy storage project in Bukit Kayu Hitam, Kedah. That work covers development of a 100MW/400MWh facility intended to support the national grid.
Ann Joo’s main businesses are steel manufacturing and trading. Its shares ended Wednesday unchanged at 45.5 sen, giving the group a market value of RM327.1 million.
