Kim Heng Limited has entered a non-binding memorandum of understanding (MOU) with Singapore Energy Interconnections (SGEI) to operate, repair and maintain submarine power cable systems installed within the Asean region, according to a bourse filing on June 9.
SGEI is a newly incorporated government-linked company in Singapore which specialises in the development and operation of cross-border power interconnectors, enable cross-border electricity trade and support the realisation of the Asean power grid.
The SGEI intends to invest in, develop, own and operate interconnectors to import electricity, according to media reports from last week.
The MOU will remain in force until June 1, 2028 or on the execution of definitive agreements or mutual agreements to terminate it.
Shares in Kim Hengclosed flat at 7.5 cents on June 9.
