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LINEAR AND SUNRISE IN COOLING PLANT JV


KUALA LUMPUR, July 29th, 2006 - Linear Corp Bhd and Sunrise Bhd plan to set up a joint venture to operate a district cooling plant in Solaris Dutamas, a property development undertaken by Sunrise.

 

In an announcement to Bursa Malaysia, Linear said that based on preliminary studies, the contract value of the current phase for construction and installation of the facility to be awarded by the joint venture company was estimated at some RM55mil.

 

The distribution networks to be awarded by the developer of Solaris Dutamas were estimated at some RM22mil, it said.

 

Linear’s participation in the joint venture is through its wholly owned subsidiary Linear Ice Solutions Sdn Bhd, while Sunrise’s is through its wholly owned unit, Sunrise Oscar Sdn Bhd.

 

Linear Ice would own 20% of the joint venture company and Sunrise Oscar 80%.

 

 

 


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