We refer to the Company's announcement made on 18 March 2026 in relation to the FA ("Announcement"). Unless otherwise stated, the words and expressions used in this announcement shall have the same meaning as defined in the Announcement.
The Company wishes to provide the following additional information/clarification in relation to the Announcement:
In relation to the scope under Energy Advisory Services
The quantum of the Service Fee for the Energy Advisory Services is not disclosed pursuant to the confidentiality provisions of the FA. Notwithstanding the foregoing, Tranche 1, representing 85% of the total Service Fee, was paid by MRL on 17 March 2026. The tenure of the Energy Advisory Services is contingent upon CGNE's completion of the relevant obligations and deliverables under the FA, with no specific timeframe stipulated therein.
For information, CGNE has rendered services in relation to the ECRL electrification framework, including connection charges, tariff structuring, licensing and regulatory submissions, stakeholder engagement, project cost verification, and financial modelling. The remaining scope of service under the approved scheme is expected to be completed by December 2028.
Further, there are no renewal provisions for the Energy Advisory Services specified in the FA.
In relation to the scope under Green Energy Development
CGNE will be the strategic partner to develop and supply renewable energy across the ECRL network through CGRE. The detailed terms, including, among others, the project value, tenure, and renewal terms have not been finalised at this juncture and will be set out in the Green Energy Supply Agreement(s) to be entered into between CGRE and MRL Energy Sdn Bhd, a nominated entity of MRL within 60 days from the date of the FA, i.e. by mid-May 2026.
This announcement is dated 26 March 2026.