KUALA LUMPUR (Feb 5): G Capital Bhd’s 60%-owned subsidiary Perak Hydro Renewable Energy Corporation Sdn Bhd (PHREC) has signed a memorandum of understanding (MOU) with Koperasi Orang Asli Perak Bhd (Koap) to cooperate and collaborate on the provision of training, business and community development opportunities to Koap members related to small hydropower projects. 

The group said in a Bursa filing on Monday that it will supply materials and services for small hydropower projects to Koap and participate in community development to address social and environmental impacts of small hydropower projects. 

“[G Capital] is determined to cooperate in providing a comprehensive support network to Koap members for aspects of workforce training including technical training, entrepreneur training and business development training,” the group added.

According to the renewable energy provider company, the MOU is not expected to have any material effect on earnings, revenue and net assets per share of the group for the financial year ending Dec 31, 2024. 

“The board of G Capital is of the opinion that the MOU is in the best interest of the group.” it said. 

At the time of writing, shares in G Capital traded unchanged from its opening price of 40 sen, down two sen or 3.61% from its last closing price of 42 sen. Its market capitalisation stood at RM134.97 million.