Thursday, April 7, 2011

Power producer Northern Utility Resources up for sale

KUALA LUMPUR: Northern Utility Resources Sdn Bhd (NUR), which operates an in-situ independent power utility (IPU) in Kulim, is up for sale, according to Ernst & Young.

It said on Thursday, April 7 the receivers and managers of NUR had advertised an invitation to Malaysian companies, including joint ventures or consortia with foreign equity participation not exceeding 25%, to submit their expressions of interest to acquire NUR's 100% equity in a group of three companies.

To recap, the group operates an in-situ IPU within the Kulim Hi-Tech Park in Kedah that holds licences to operate an IPU for a period up to 2028.

The group currently generates, supplies, transmits and distributes 170MW at gazetted tariffs to multi-national tenants in the 1,700-ha industrial park. The IPU is an infrastructure driving force for the growth of the park, it said.

Ernst & Young said interested parties keen to acquire NUR should have strong financial standing and meet the requirements set by the Energy Commission and other regulatory authorities for operating an IPU.

The deadline for interested parties to submit their expression of interest to the receivers and managers was by May 12.

Those interested in investing in the IPU may obtain a preliminary information memorandum after signing a confidentiality agreement and payment of RM5,000.

Ernst & Young said these parties could contact Judy Tang at Tel: 03-7495 7890 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it or Fiona Soh at Tel: 03-7495 7880 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it

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