A handover of documents ceremony for the 10-Megawatt Mini Hydro Project in Sungkai, Perak was held in Publika between Majulia Sdn Bhd and DL Trade Networks Sdn Bhd.\u00a0<\/p>\n
The event was held to commemorate the negotiation and due diligence exercise by both parties in developing the mini hydro power plant, which is expected to be valued at more than RM250 million upon completion.<\/p>\n
The handover ceremony was attended by Datuk Shamsudin Hayroni, chairman of Majulia and Thania Rohaina, legal advisor. DL Trade was represented by Datuk Mohd Norddin Lassar, group executive chairman,\u00a0 and Md Maududi, chief executive officer of DL Trade.<\/p>\n
\u201cThis exercise is in line with Coinzer\u2019s roadmap to spearhead financial technology (fintech) development in Malaysia, as designed in our White Paper.<\/p>\n
\u201cBlockchain technology would enable us to tap fintech\u2019s infinite potential and rapidly spur economic growth.\u00a0<\/p>\n
\u201cBut we need cheap efficient clean energy to make this happen, and the mini hydro power plant is the answer.\u201dsaid Norddin<\/p>\n
The mini hydro power plant, with 10MW output capacity would cater the contracted supply to the national grid, in accordance with the Renewable Energy Act 2011.\u00a0<\/p>\n
The power plant would also generate sufficient power supply for the consumption of a state-of-the-art hydro mining facility to support the ever-growing transaction activities for its fintech platform.\u00a0<\/p>\n
The estimated gross development value (GDV) for both projects are RM100 million and RM150 million respectively.<\/p>\n
The negotiations began in February and are now in the stage of feasible studies and financial due diligence.\u00a0<\/p>\n
\u201cSince we started negotiations earlier this year, we have yielded very fruitful outcomes for both parties,\u201d said Shamsuddin.<\/p>\n
DL Trade the developer of Coinzer, would be leading the development of the Sungkai mini hydro power plant, and oversee the whole fundraising exercise for the project that would be introduced in the near future.\u00a0\u00a0<\/p>\n
\u201cOur aim is to build the world\u2019s largest hydro mining facility of its kind.<\/p>\n
\u201cBut fintech-based mining activities consume a lot of power however the good thing is Malaysia has the resources to generate affordable and renewable energy that we can tap on,\u201d\u00a0 said Maududi.<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
A handover of documents ceremony for the 10-Megawatt Mini Hydro Project in Sungkai, Perak was held in Publika between Majulia Sdn Bhd and DL Trade Networks Sdn Bhd.\u00a0 The event was held to commemorate the negotiation and due diligence exercise by both parties in developing the mini hydro power plant, which is expected to be […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-1667","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=1667"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1667\/revisions"}],"predecessor-version":[{"id":4781,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1667\/revisions\/4781"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=1667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=1667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=1667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}