KUALA LUMPUR (Nov 13): Mega First Corporation Bhd’s (MFCB) 51% indirect subsidiary, Serudong Power Sdn Bhd, has proposed to dispose of buildings together with plant assets for RM3 million to Reliable Power Resources Sdn Bhd.

“The power plant in Tawau, Sabah has ceased operation since the expiry of the power purchase agreement between Sabah Electricity Sdn Bhd (SESB) and Serudong on Dec 2, 2017,” it said in a filing to Bursa Malaysia today.

SESB is the landowner of the land, it said, while Serudong is the registered and beneficiary owner of all the buildings and structures erected on the land, together with all the facilities, equipment, plant and machinery, spare parts and fuels.

News Source: EdgeProp, 13th November 2019.