UUE to venture into solar PV via unit Enerxite
PETALING JAYA: UUE Holdings Bhd will venture into the solar photovoltaic (PV) industry through a 60% owned subsidiary called Enerxite Sdn Bhd.
The joint venture (JV) partner Daryl Lai Yit Sheng, 36, will hold the remaining equity stake in Enerxite.
UUE said in a statement that the mechanical engineer would lead and spearhead UUE's venture into the renewable energy (RE) sector.
It would subscribe for the equity stake in Enerxite by investing RM599,990, a company in which it already has an initial paid-up capital of RM10.
Lai would subscribe his portion in Enerxite for RM400,000 in cash, it said.
'UUE has identified the RE sector as a potential business segment which the group believes can be developed given the favourable potential of sustainable renewal energy sources.
'UUE intends to begin its involvement in this business industry with the engineering, procurement, construction and commissioning of solar PV systems for a start and progressively immerse itself into other segments,' it said.
'UUE, as the primary capital contributor and corporate owner, will provide strategic direction and corporate governance oversight.
'Lai will contribute technical expertise, industry knowledge and practical experience in the RE sector,' the company pointed out.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
an hour ago
- The Star
E-invoicing deadlines for businesses with revenue below RM5mil revised, says LHDN
KUALA LUMPUR: The Inland Revenue Board (LHDN) on Thursday (June 5) announced that the implementation phase for e-invoices for taxpayers with annual income or sales exceeding RM1mil but not exceeding RM5mil has been postponed to Jan 1, 2026. In a statement, LHDN also announced that taxpayers with an annual income or sales below RM500,000 are exempted from the implementation of the e-Invoice system. "The implementation phase for taxpayers with annual income or sales up to RM1mil has been postponed to July 1, 2026," LHDN said. The board added that the decision was made after the government recognised the commitments of taxpayers, particularly Micro, Small, and Medium Enterprises (MSMEs), in meeting e-invoice legal requirements, which necessitate adequate preparation time and face numerous implementation challenges. The statement said that, in line with this decision, a new timeline for the e-invoice implementation phases has been established with Phase 3 targeting taxpayers with annual income or sales exceeding RM5mil but not exceeding RM25mil coming into effect on July 1, 2025. LHDN noted that Phase 4 will involve taxpayers with annual incomes or sales exceeding RM1mil up to RM5mil and will begin on Jan 1, 2026 while Phase 5 will cover the income group of up to RM1mil and will commence on July 1, 2026. The previously announced six-month grace period will also apply to these new phases, the agency said. It stressed that during this period, taxpayers will be permitted to issue consolidated e-invoices for all transactions, including self-billed e-invoices. Necessary details, it said, can be included in the "Product or Service Description" field. "If there is a request for an e-Invoice from the buyer, the seller is also allowed to issue only a consolidated e-Invoice without issuing one for each transaction," the statement said. LHDN also said that during this grace period, no prosecution will be initiated under Section 120 of the Income Tax Act 1967 for non-compliance with e-Invoice regulations, provided taxpayers adhere to the consolidated e-Invoice requirements. "Furthermore, starting Jan 1, 2026, taxpayers involved in e-Invoice implementation must issue an e-Invoice for every sale of goods or provision of services exceeding RM10,000, and consolidated e-Invoicing will no longer be permitted," the statement added. For any inquiries regarding the system's implementation, the public may contact LHDN offices, the e-Invoice Help Desk at 03-8682 8000, MyInvois Live Chat, email myinvois@ or submit a query through the MyInvois Customer Feedback Form at - Bernama
Barnama
an hour ago
- Barnama
e-Invoice Implementation For Revenue Below RM5 Mln Deferred To Jan 1, 2026
KUALA LUMPUR, June 5 (Bernama) -- The Inland Revenue Board (LHDN) today announced that the implementation phase for e-invoices for taxpayers with annual income or sales exceeding RM1 million but not exceeding RM5 million has been postponed to Jan 1, 2026. In a statement here, LHDN also announced that taxpayers with an annual income or sales below RM500,000 are exempted from the implementation of the e-Invoice system. "The implementation phase for taxpayers with annual income or sales up to RM1 million has been postponed to July 1, 2026," LHDN said. The board added that the decision was made after the government recognised the commitments of taxpayers, particularly Micro, Small, and Medium Enterprises (MSMEs), in meeting e-invoice legal requirements, which necessitate adequate preparation time and face numerous implementation challenges. The statement said that, in line with this decision, a new timeline for the e-invoice implementation phases has been established with Phase 3 targeting taxpayers with annual income or sales exceeding RM5 million but not exceeding RM25 million coming into effect on July 1, 2025. LHDN noted that Phase 4 will involve taxpayers with annual incomes or sales exceeding RM1 million up to RM5 million and will begin on Jan 1, 2026 while Phase 5 will cover the income group of up to RM1 million and will commence on July 1, 2026. The previously announced six-month grace period will also apply to these new phases, the agency said. It stressed that during this period, taxpayers will be permitted to issue consolidated e-invoices for all transactions, including self-billed e-invoices. Necessary details, it said, can be included in the 'Product or Service Description' field.
Daily Express
3 hours ago
- Daily Express
Man jailed for concealing over RM480,000 in Facebook investment scam proceeds
Man jailed for concealing over RM480,000 in Facebook investment scam proceeds KUALA LUMPUR: A man was sentenced to one year imprisonment by the Sessions Court today after pleading guilty to transferring and concealing RM487,790 belonging to two women in connection with a fraudulent investment scheme advertised on Facebook last year. Judge Azrul Darus sentenced Marchell Jeff Lee Sin Ket, 39, to one year in prison for assisting in concealing RM314,790 belonging to Ong Boon Ian, 59, an investment company owner, in his bank account at a condominium unit in Bandar Menjalara, Sentul, between Nov 18 and Dec 12 last year. Advertisement Separately, before Judge Hamidah Mohamed Deril, he was sentenced to eight months imprisonment for concealing RM173,000 belonging to Chin Lit Teng, 49, a health products company account executive, in his bank account at a condominium unit off Jalan Kuching, Taman Sri Kuching, Sentul, between Nov 7 and Dec 9 last year. He was charged under Section 424 of the Penal Code, which carries a maximum sentence of five years imprisonment, a fine, or both upon conviction. Both sentences are to run concurrently from today. SPONSORED CONTENT According to the statement of facts, the victim had come across a stock investment advertisement while browsing Facebook and proceeded to register for the purported investment scheme. Subsequently, the victim transferred funds in stages into a bank account under the name Marchell Jeff Interior Design Haus Sdn Bhd. The scheme was later discovered to be fraudulent when the promised returns failed to materialise. Advertisement Deputy public prosecutors M Saravanan and Raihanah Abd Razak appeared for the prosecution, while Lee was unrepresented.
