The Board of Directors of Fajarbaru Builder Group Bhd (“FBG” or “the Company”) wishes to announce that FBG Land Sdn Bhd (formerly known as Fajarbaru Land (M) Sdn Bhd), a wholly-owned subsidiary of FBG, has on 20 January 2025 entered into a Strategic Collaboration Agreement (“SCA”) with Solarvest Holdings Berhad with the intention to collaborate with each other, to develop the proposed development known as MediCity in Batu Kawan, Mukim 13, Daerah Seberang Perai Selatan, Pulau Pinang to be a net zero township via the integration of clean energy solutions including but not limited to the provision of solar panel system, electric vehicle (“EV”) charging infrastructure, EV fleet, energy efficiency, battery energy storage system as well as green attributes trading.
Further details on the SCA are set out in the attachment.
This announcement is dated 20 January 2025.