Zecon Arm Eyes to Sublease Land for MYR54 Million
Zecon Renewables (Sarawak), a wholly-owned subsidiary of Zecon (KLSE:ZECON), proposes to sublease a portion of land in Kuching, Sarawak, Malaysia, from Zecon Solar for 54.4 million ringgit, according to a Wednesday filing to the Malaysian stock exchange.The plan includes subleasing 302 acres for 30 years at a monthly rental rate of 500 ringgit per acre, which amounts to 151,000 ringgit a month, and 1.81 million ringgit annually.The land is part of Kota Petra Green Technology Park in Kuching, Malaysia, and will be used for a 100 MW alternating current solar photovoltaic farm development.This is part of a power purchase agreement entered into by Zecon Renewables with Syarikat SESCO in October 2025, wherein Zecon Renewables will design, construct, own, operate and maintain the solar PV facility.The proposed sublease offers the group long-term access to the site and the development of the facility, which is expected to contribute positively to the future earnings of the group.
