Latest news with #FiA
The Star
11-08-2025
- Business
- The Star
Citaglobal buys stakes in Perak hydro projects
PETALING JAYA: Citaglobal Bhd is acquiring majority stakes in two hydropower projects in Perak for RM15mil. In a statement, the company said it is acquiring a 70% stake in Zeqna Corp Sdn Bhd for RM15mil, and a 70% equity interest in Koridor Mentari Sdn Bhd for RM1, conditional upon the completion of Zeqna's acquisition. 'This strategic acquisition positions Citaglobal to capture immediate renewable energy revenue from the Slim Hydropower Plant, a proven brownfield hydropower asset in Slim, Perak, while the Kampar Hydropower Plant project – with all state-level approvals secured – is poised to generate robust returns on an accelerated timeline,' the company said. The Slim Hydropower Plant, owned by Zeqna, is a 6MW brownfield asset that has been operational since July 2019. The Kampar Hydropower Plant, currently under development by Koridor Mentari, achieved a major milestone with the grant of a new feed-in approval (FiA) on July 25, 2025. Under the revised FiA, the approved capacity has been increased from 5.25MW to 6MW.
The Star
11-08-2025
- Business
- The Star
Citaglobal acquires majority stakes in two hydropower projects for RM15mil
Citaglobal executive chairman and president Tan Sri Mohamad Norza Zakaria PETALING JAYA: Citaglobal Bhd is acquiring majority stakes in two hydropower projects in Perak for RM15mil. In a statement, the company said it is acquiring a 70% stake in Zeqna Corporation Sdn Bhd for RM15mil and a 70% equity interest in Koridor Mentari Sdn Bhd for RM1, conditional upon the completion of Zeqna's acquisition. 'This strategic acquisition positions Citaglobal to capture immediate renewable energy revenue from the Slim Hydropower Plant, a proven brownfield hydropower asset in Slim, Perak, while the Kampar Hydropower Plant project — with all state-level approvals secured — is poised to generate robust returns on an accelerated timeline,' said Citaglobal. The Slim Hydropower Plant, owned by Zeqna, is a 6 megawatts (MW) brownfield asset that has been operational since July 2019. The Kampar Hydropower Plant, currently under development by Koridor Mentari, achieved a major milestone with the grant of a new Feed-in Approval (FiA) on July 25, 2025. Under the terms of this FiA, the approved capacity has been increased from 5.25MW to 6 MW. Executive chairman and president Tan Sri (Dr.) Mohamad Norza Zakaria said the acquisition of the Slim Hydropower Plant, a revenue-generating brownfield asset, together with the Kampar Hydropower Plant, a fully approved greenfield project with high potential, accelerates the growth of the company's renewable energy business by several years. 'Slim Hydropower Plant will provide the group with an immediate source of recurring revenue, while Kampar Hydropower Plant, benefiting from its newly approved capacity and tariff, promises to deliver exceptional long-term value. 'Together, they provide a well-balanced platform for scaling our clean energy portfolio, which includes solar, waste-to-energy, and battery energy storage projects,' he said in a statement.
The Star
25-04-2025
- Automotive
- The Star
Rallying-WRC drivers reach agreement with FIA on swearing
Formula One F1 - Spanish Grand Prix - Circuit de Barcelona-Catalunya, Barcelona, Spain - June 20, 2024 General view as a worker cleans the FiA logo ahead of the Spanish Grand Prix REUTERS/Albert Gea (Reuters) -World championship rally drivers have resolved a dispute with the sport's governing body over when they can swear during a competition. The World Rally Drivers Alliance (WoRDA) had protested after Hyundai's Adrien Fourmaux was fined 10,000 euros ($11,375.00), with a further 20,000 suspended, for swearing in a television interview during Rally Sweden in February. They stayed silent, or spoke only in their own languages, in stage-end interviews at last month's Kenya Safari Rally. Retired eight-times world champion co-driver Julien Ingrassia, representing WoRDA, told the website that a compromise had been reached ahead of this weekend's round in the Canary Islands. "The rally will now be divided into two zones: one is a controlled zone, one is an uncontrolled zone," the Frenchman, who raced alongside compatriot Sebastien Ogier, explained. "The latter is based around heat-of-the-moment areas such as stage ends, onboard cars during the stages or on road sections. Controlled sections are, for example, the media zones and the post-event FIA press conferences. "We're really pleased to find a solution. As was the case in Formula One, adjustments were needed to take into consideration some of the unique aspects of our discipline." The drivers had argued that the fines were vastly disproportionate to average incomes and budgets in rallying compared to Formula One, with some drivers not full-time professionals. The FIA has cracked down on swearing in Formula One under the leadership of its president Mohammed Ben Sulayem, with stiff sanctions set out in the sporting code. ($1 = 0.8791 euros) (Reporting by Alan Baldwin, editing by Clare Fallon)
The Star
23-04-2025
- Automotive
- The Star
Motor racing-Rally boss Wilson nominated for FIA deputy president role
Formula One F1 - Italian Grand Prix - Circuit of Monza, Monza, Italy - August 30, 2018 General view of the FiA logo REUTERS/Stefano Rellandini LONDON (Reuters) -The head of motorsport's world governing body, the FIA, has nominated former rally driver and M-Sport founder Malcolm Wilson to take the position left vacant by fellow-Briton Robert Reid as deputy president for sport. The FIA, the governing body for Formula One as well as rallying, said the nomination by president Mohammed Ben Sulayem will be voted on at a meeting in Macau in June. M-Sport has operated Ford's world rally programme since 1997, the company winning the manufacturers' title in 2006, 2007 and 2017. Reid, a 2001 world championship-winning rally co-driver, resigned this month due to what he called a "fundamental breakdown in governance standards" within motorsport's world governing body. Wilson said in a statement that it was an honour to be nominated and he looked forward to supporting Ben Sulayem, a former rally driver, who is expected to stand for re-election in December. (Reporting by Alan Baldwin, editing by Christian Radnedge)
