Comintel gets Seda nod to extend FiT date to Sept 2

PETALING JAYA: Comintel Corp Bhd has obtained approval from the Sustainable Energy Development Authority Malaysia (Seda) for the extension of the feed-in-tariff commencement date (FiTCD) from May 31, 2016 to Sept 2, 2016.
In a filing with Bursa Malaysia yesterday, it said that the approval letter from Seda dated June 28, 2016 was received on Wednesday (June 29, 2016).
Comintel Green Technologies Sdn Bhd (CGT) had sought for an extension from Seda on April 29, 2016 as it was unable to meet the scheduled FiTCD fixed on May 31, 2016.
“The reason for the FiTCD extension was that the company had yet to obtain the approval of permanent licence from the Energy Commission,” it said.
It said that CGT cannot commence operation until the permanent licence is granted by Energy Commission as it is one of the requirements under Seda’s FiT.
“Barring any unforeseen circumstances, CGT should be able to meet the new extended FiTCD and expected to contribute positively for the financial year ending Jan 31, 2017,” it added.
Comintel’s shares closed 3.66% lower at 79 sen yesterday, with a total of 5.06 million shares traded.