HK Stock Market Move | KINGKEY FIN INT(01468) rose more than 3%, planning to establish a joint venture company in Malaysia to expand the renewable energy business.

KINGKEY FIN INT (01468) rose more than 3%, as of the publishing time, rose by 3.26%, to HK$0.475, with a turnover of HK$27.9189 million. On the news front, KINGKEY FIN INT announced that on February 19, 2025, the company signed a non-legally binding memorandum of understanding with Ideal Capital Berhad (together with "Ideal Group"), indirectly wholly-owned subsidiary MUJUR SINARJAYA SDN BHD (MUJUR), and WRISE Group. The memorandum of understanding outlines potential cooperation between the company, MUJUR, and WRISE Group, aimed at exploring business opportunities through financing and implementing Malaysia's green energy projects (potential cooperation). The company, MUJUR, and WRISE Group are currently exploring cooperation opportunities in the renewable energy sector. A portion of Ideal Group's property development business specializes in acquiring and selling industrial land in Malaysia, including the Penang Technology Park. The parties intend to leverage their respective strengths in financial services and Malaysian property development to establish a potential joint venture company. This joint venture company will focus on the financing and development of green energy projects and artificial intelligence infrastructure in the Penang Technology Park, including natural gas power plants, CECEP Solar Energy power stations, and waste-to-energy facilities. The directors believe that this will enhance the parties' ability to jointly promote sustainable energy solutions in the region.