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Annica Holdings Bags Solar-Hydrogen Project in Malaysia; Shares Up 3%

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Annica Holdings (SGX:JFQ) secured a commercial solar-hydrogen project in Sarawak, Malaysia, according to a Friday filing with the Singapore Exchange.

Shares of the investment firm were up over 3% in Monday trading.

The project was awarded to Annica's renewable energy subsidiary, H2 Energy, by Universiti Malaysia Sarawak. Under the contract, H2 Energy will design and deploy solar and hydrogen energy systems for the university's Kampung Assum Living Lab initiative.

The project is expected to commence by the end of June.

Separately, Annica said its subsidiary Cahya Suria Energy is in discussions with Travia Consultancy Services on a potential expansion of an existing framework agreement that could lead to the joint production of diesel-grade products from used tyres.

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