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We refer to our announcement on 11 February 2008 on the execution of a Memorandum of Understanding (“MOU”) between SEB and SDB to co-operate and work together in the implementation of the proposed 8 X 300MW Bakun Hydroelectric Plant (“Bakun HEP”) and the High Voltage Direct Current Link Project (“HVDC Link”) which includes the dual submarine cables linking Bakun HEP to Peninsular Malaysia.
The scope of co-operation in the MOU includes, among others, the interconnection with the SESCO grid for the commissioning of the Bakun HEP generating units, the sale of electricity to SESCO and for the construction of the overhead portion of the HVDC Link in Sarawak.
The Company wishes to announce that the parties are currently holding discussions to enter into definitive agreement(s) on the respective scope of co-operation.
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