{
  "id": 14432611,
  "title": "Perlis power plant project requires funding commitment of up to RM479.4mil to Kinergy Advancement's unit",
  "url": "https://urgent.news/2026/10/14/perlis-power-plant-project-requires-funding-commitment-of-up-to-rm479",
  "topic": "world",
  "section": "World",
  "published": "2026-10-14T11:04:49.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/10/1555529/perlis-power-plant-project-requires-funding-commitment-rm4794mil"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: Kinergy Advancement Bhd (KAB) has committed up to RM479.4 million for the development of the Eentier Perlis power plant, which represents 51% of the total equity portion of the RM940 million project. The company plans to issue up to 218.5 million new ordinary shares, representing 10% of its total shares, to raise RM79.75 million. KAB is also exploring external debt financing to cover 80% of the project cost, with the remaining 20% funded through capital injections from KAB Energy Holdings Sdn Bhd (KABEH) and B.Grimm Power. The final equity structure will be determined after the Energy Commission (EC) issues a letter of notification (LoN). The Perlis power plant, set to be built on a brownfield site of a decommissioned 650MW plant, is expected to be developed using existing infrastructure, including a 132/275 kV switchyard, a gas metering station, and a 56 MLD water treatment plant. KAB holds a 51% equity interest in the project, while B.Grimm Power owns the remaining 49%.",
  "summary": "KUALA LUMPUR: The maximum funding commitment for the development of the Eentier Perlis power plant to KAB Energy Holdings Sdn Bhd (KABEH), the wholly owned subsidiary of Kinergy Advancement Bhd (KAB), is RM479.4 million.",
  "key_points": [
    "Kinergy Advancement commits up to RM479.4 million for Perlis power plant",
    "Company plans to issue 218.5 million new shares for RM79.75 million",
    "External debt financing to cover 80% of project cost"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}