KUALA LUMPUR: Pasukhas Group Bhd has entered into a memorandum of understanding (MoU) with Porto Three Sixty Sdn Bhd and Perbadanan Ketua Menteri Melaka (CMI) to set up a consortium.
In a filing with Bursa Malaysia today, Pasukhas, an engineering solutions provider, said the consortium would be able to participate in the bidding process for a waste-to-energy public-private partnership project in Sungai Udang, Melaka.
The parties have agreed that the proportion of the shareholding in the consortium shall be 20 per cent for the first party (CMI) and 80 per cent for the second party (Pasukhas and Porto Three).
"The parties agreed that the initial investment of the concession company shall be RM500,000 only.
"The second party shall pay for the 20 per cent stake of the first party in the sum of RM100,000 as the first injection of capital into the concession company," Pasukhas said.
It also said that the second party shall be the lead member of the consortium in conducting all business for and on behalf of the consortium during the bidding process and until the signing of a concession agreement.