Ajiya-led consortium fails to win LSS3 project

KUALA LUMPUR (Jan 10): Ajiya Bhd says today its consortium with Xinyi Solar (M) Sdn Bhd and U-Li Solar Energy Sdn Bhd has failed to clinch the tender for the large-scale solar photovoltaic Edition 3 (LSS3).

Hence, the consortium agreement entered into between the three parties will be terminated with immediate effect, it added.

In a filing with Bursa Malaysia today, Ajiya said it received an outcome letter dated Jan 6 from the Energy Commission stating that the bid by the consortium was unsuccessful.

On Feb 15, 2019, the Energy, Technology, Science, Climate Change and Environment Ministry had called for bids for an estimated RM2 billion worth of projects under the LSS3 scheme to increase the production of electricity from renewable energy.

Ajiya’s share price gained 0.5 sen or 1.19% to close at 42.5 sen today, giving it a market capitalisation of RM126.35 million.