On February 27, 2025, Press Metal Aluminium Holdings Berhad announced the signing of a Memorandum of Understanding (MoU) with Bintulu Development Authority (BDA) to build an aluminium solar frame manufacturing facility with an annual production capacity of 80,000 tonnes.
Under the JV signed, the two parties have agreed to form a cooperative framework to conduct commercial viability, feasibility, and necessary terms for the successful implementation of the project.
Effective from the date signed, the MoU will remain in force and effect for a valid term of three months unless the parties terminate the agreement early.
The facility is proposed to be located in Bintulu, Malaysia, and is estimated to require an investment of RM600 million. Initially, 20 per cent of the capital needed for the project will be invested upfront, while the remaining funding will be made through loans.
Press Metal will own an 80 per cent stake in the facility, while Bintulu Development Authority will hold 20 per cent. With these companies’ expertise and skilled resources, this proposed facility will come up strong to serve local and international markets.
As per the report, the project is scheduled to be commissioned by around mid-2026.
Press Metal, while announcing the signing of MoU, clarified the project would have no material effect on its financial earnings and net assets for the ongoing fiscal year ending December 31, 2025. Similarly, the MoU will have no impact on the issued and paid-up share capital of the company.
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