KUALA LUMPUR: Scomi Group Bhd (SGB) subsidiary Scomi Capital Sdn Bhd (SCSB) has signed a memorandum of agreement (MoA) with Xair Pulsecor Sdn Bhd (XPSB) to collaborate on the supply of power generation solutions and hybrid power generation system.

The MoA entails a joint development of a hybrid power generation system combing genset, battery and solar, provision of power management services such as leasing, operation and maintenance of power generation.

According to a Bursa Malaysia filing today, the deal also encompasses the export of Xair DCR Generator and Xair SMARTGen Controller.

The target market for both companies under the deal will be domestic, which will be on a project-to-project basis for the supply of gensets and any other related system to SCSB for its energy management business, while the export market will include Pakistan, Cambodia and Myanmar.

Both companies agree to leverage on XPSB’s knowledge in the business of providing and manufacturing power generators and SCSB’s expertise in the business of renewable energy management services.

The MoA has no effect on the share capital and substantial shareholders’ shareholdings of SGB and is not expected to have a material effect on the earnings per share, net assets per share and gearing of SGB for the financial year ending 30 June 2022, the filing noted.