Reference is made to the Company's announcements dated 8 January 2025, 10 January 2025 and 17 January 2025 in relation to the development of the Project ("Previous Announcements").

Unless otherwise stated, all abbreviations used in this announcement shall have the same meaning as defined in the Previous Announcements.

1.  Introduction

The Board of Directors of Unique Fire is pleased to announce that its indirect 60%-owned subsidiary, Unique HEB Energy Sdn. Bhd. [Registration No. 202501002731 (1604144-T)] (“SPV”), a special-purpose joint venture vehicle incorporated by Unique Green Energy Sdn. Bhd., a wholly-owned subsidiary of the Company, and HEB Energy Sdn. Bhd. [Registration No. 202001004301 (1360621-A)] (“HEBE”), a wholly-owned subsidiary of HSS Engineers Berhad, had on 19 March 2025, jointly entered into a Solar Power Purchase Agreement with Tenaga Nasional Berhad.

2.  DETAILS OF PPA

Pursuant to the PPA, the SPV shall design, construct, own, operate and maintain a solar photovoltaic energy generating facility (“the Facility”) with its approved capacity at the relevant project site, as follows:-

Capacity (MWAC)

Location

Scheduled Commercial Operation Date

95

Hilir Perak, Perak

11 October 2027

The PPA governs the obligations of the Parties to sell and purchase the energy generated by the Facility for a period of 21 years from the commercial operation date, in accordance with the agreed terms and conditions as stipulated in the PPA.

3.  FINANCIAL EFFECTS

The entry into the PPA will not have any immediate material effect on Unique Fire’s issued share capital and/or substantial shareholders’ shareholdings. However, it is expected to contribute positively towards the future earnings and net assets of the Group upon the commercial operation of the LSS Plant.

4.  RISK FACTORS

Unique Fire does not foresee any exceptional risk other than the operational risks and regulatory changes associated with the PPA. Nevertheless, the Company will take the appropriate measures to mitigate the risks as and when they occur.

5.  APPROVAL REQUIRED

The acceptance of the PPA is not subject to the approval of shareholders of the Company or any relevant authorities.

The Company may seek the approval of the shareholders for the diversification of the business prior to the implementation of the LSS Plant in due course.

6.  DIRECTORS’ AND/OR MAJOR SHAREHOLDERS’ INTERESTS

None of the directors, major shareholders, chief executive of the Company and/or any persons connected with them has any interest, whether direct or indirect, in the PPA.

7.  DIRECTORS’ STATEMENT

The Board having considered all aspects of the PPA, including the rationale and benefits, is of the opinion that the acceptance of the PPA is in the best interest of the Group.

8.  DOCUMENT FOR INSPECTION

A copy of the PPA will be made available for inspection at the registered office of the Company at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur, Wilayah Persekutuan during normal business hours for a period of three (3) months from the date of this announcement.


This announcement is dated 19 March 2025.