1. INTRODUCTION
The Board of Directors of JS Solar wishes to announce that JS Solar Sdn. Bhd. (“JSSB”), a wholly-owned subsidiary of the Company, had on 10 February 2026 entered into a Memorandum of Understanding (“MOU”) with N.U.R Power Sdn. Bhd. (“NUR”) to explore a strategic collaboration in relation to the development, engineering, procurement, construction, commissioning, operation and/or maintenance of solar rooftop renewable energy projects, including Battery Energy Storage Systems (“BESS”), for tenants within Kulim Hi-Tech Park, Kedah (“Projects”).
2. INFORMATION ON NUR
NUR is a private limited company incorporated under the laws of Malaysia. NUR is an independent power utility company specialising in the generation, transmission and retail supply of electricity exclusively to industrial customers within Kulim Hi-Tech Park, Kedah.
3. SALIENT TERMS OF THE MOU
(a) Pursuant to the MOU, the parties have agreed to explore strategic collaboration and to outline the preliminary framework and general intentions for collaboration in respect of the Projects, subject to further negotiations and the execution of a definitive agreement.
(b) The purpose and scope of collaboration under the MOU include, among others, the following:
(i) JSSB is identified as the engineering, procurement, construction and commissioning (EPCC) contractor.
(ii) NUR shall provide relevant project information and technical requirements.
(iii) Subject to mutual agreement, the parties may jointly bid for selected opportunities.
(iv) JSSB may introduce and integrate advanced photovoltaic systems, inverters, BESS, hybrid control systems and other solutions for the Projects.
(c) The MOU is non-exclusive and shall not restrict or prevent NUR from engaging any third party, including other contractors, developers or service providers, for projects of a similar nature to the Projects.
(d) The MOU serves as an expression of intent and shall not constitute a binding commitment by either party to proceed with any Projects or to award any contract to the other party.
(e) Any formal collaboration between the parties shall be subject to the negotiation, finalisation and execution of a definitive agreement setting out the detailed terms, obligations and responsibilities of the parties, and neither party shall be under any obligation to enter into such definitive agreement.
(f) The MOU shall remain in force for a period of twenty-four (24) months from the date of the MOU.
4. RATIONALE FOR THE MOU
The MOU provides a framework for the parties to explore potential collaboration in respect of the Projects by leveraging each party’s respective expertise, resources and capabilities in renewable energy solutions.
5. FINANCIAL EFFECTS
The MOU is non-binding and does not constitute a commitment to award or secure any contract. Accordingly, the MOU is not expected to have any material effect on the earnings, net assets or gearing of the Company for the financial year ending 31 March 2026.
6. RISK FACTORS
The potential collaboration contemplated under the MOU is subject to, among others, successful negotiations, execution of a definitive agreement, project viability and prevailing market conditions. In the event that the Company enters into any definitive agreement pursuant to the MOU, the Company will identify, assess and manage the relevant risks accordingly.
7. APPROVAL REQUIRED
The MOU is not subject to the approval of shareholders of the Company or any regulatory authorities.
8. INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM
Ikwan Hafiz Bin Jamaludin is a major shareholder of the Company. He is also a director and an indirect major shareholder of NUR.
Save as disclosed above, none of the Directors, major shareholders of the Company and/or persons connected with them has any direct or indirect interest in the MOU.
9. STATEMENT BY THE BOARD OF DIRECTORS
The Board of Directors of the Company, having considered all relevant aspects of the MOU, is of the opinion that the MOU is entered into in the best interest of the Company.
TA Securities Holdings Berhad (“TA Securities”), being the Sponsor, was responsible for the admission of the Company to the ACE Market of Bursa Malaysia Securities Berhad on 23 September 2025. TA Securities assumes no responsibility for the contents of this announcement.
This announcement is dated 10 February 2026.