ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Oct 28, 2021 13:00 JST
Source:
Leon Fuat Berhad
Leon Fuat Berhad Powers Up for Green Energy
The Group is investing RM5.26 million to install solar panels for processing operations
SHAH ALAM, Malaysia, Oct 28, 2021 - (ACN Newswire) - Leon Fuat Berhad ("Leon Fuat"or the "Group"), primarily in the business of trading, processing and/or manufacturing (collectively referred to as "processing") of steel products, specialising in rolled long and flat products, is pleased to announce that the Group is making its move towards having sustainable energy powering production operations through an investment in solar panels.
Mr, Ooi Seng Khong, Group Managing Director of Leon Fuat
A total of RM5.26 million is being invested for solar panels as part of the Group's sustainability initiatives and these panels will be gradually installed in stages depending on the readiness of project sites.
Group Managing Director of Leon Fuat, Mr. Ooi Seng Khong said, "We see this move as a good investment for the environment in the long run to reducing CO2 emissions as we are using renewable solar energy and it will also lower the cost of energy consumption. This initiative will help us in our energy management initiatives and solar power is environmentally sustainable as well as effective."
"We have been monitoring both electricity and fuel consumption as part of our sustainability initiatives since the financial year ended 31 December 2017 and are cognisant of the need to source for more sustainable sources of energy for our steel processing operations. The installation of solar photovoltaic (PV) panels will have a capacity of 2.1 million kWh per year, and we expect to save an estimate of 30% savings in electricity consumption per year when the solar panels are fully completed."
For disclosure purposes, three of the Group's subsidiaries involved in steel processing consumed a total of 4.9 million kWh of electricity in 2020, which is a 37.1% increase from 2019.
"We will continue to build organisational capacity to adapt to a sustainable future while focusing on the strategy to improve productivity through sustainable practices and bring value to our stakeholders," Ooi said.
Source: Leon Fuat Berhad
Sectors: Metals & Mining, Environment, ESG, Alternative Energy, Local Biz
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024
Apr 25, 2024 18:21 JST
MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park
Apr 25, 2024 17:45 JST
GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series
Apr 25, 2024 16:50 JST
Toyota Exhibiting at Beijing Motor Show 2024
Apr 25, 2024 16:25 JST
Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
Apr 25, 2024 11:10 JST
UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh
Apr 25, 2024 09:00 JST
Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Apr 24, 2024 17:19 JST
MC and Denka Sign J/V Agreement in Fullerene Business
Apr 24, 2024 17:02 JST
Mitsubishi Motors Posts Record Sales in the Philippines in FY2023
Apr 24, 2024 13:56 JST
NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
Apr 24, 2024 13:25 JST
Fujitsu SX Survey reveals key success factors for sustainability
Apr 23, 2024 10:25 JST
Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions
Apr 22, 2024 16:09 JST
NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II
Apr 22, 2024 15:09 JST
Soft Space Launches the First and Only JCB Payment Gateway in Malaysia
Apr 22, 2024 15:00 JST
TOYOTA GAZOO Racing takes a one-two in Croatian thriller
Apr 22, 2024 10:47 JST
First-ever Mazda CX-80 Crossover SUV Unveiled in Europe
Apr 19, 2024 13:50 JST
Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST
Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST
Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST
Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan
Apr 18, 2024 11:14 JST
More Latest Release >>
Related Release
Leon Fuat Shareholders Approve Dividend for FY2022
May 23 2023 19:00 JST
Leon Fuat Records Revenue of RM1.03 Billion for the FY2022
February 28 2023 19:00 JST
Leon Fuat Berhad Posts 35.8% Increase in Q2 Revenue to RM250.93 Million
August 29 2022 18:00 JST
Leon Fuat Berhad Shareholders Vote to Pass All Resolutions at AGM
June 28 2022 17:00 JST
Leon Fuat Berhad Posts 29% Increase in Revenue to RM273 Million for Q1 FY2022
May 30 2022 19:00 JST
Leon Fuat Berhad's Q4 Profit After Tax Jumps 61.8% to RM29 Million
February 25 2022 18:00 JST
Leon Fuat Berhad Posts 470% Rise in Quarterly PAT
November 29 2021 20:00 JST
Leon Fuat Berhad Posts 1,110% Jump in Net Profit
September 09 2021 18:00 JST
Leon Fuat Berhad Shareholders Pass Resolution to Acquire Factory for Rm28.0 Million
June 18 2021 18:00 JST
Leon Fuat Berhad Records Stellar Quarter due to Rising Global Demand, Profit Up 3,297%
May 28 2021 20:00 JST
More Press release >>