Environment
Ranhill conducts its environment business through RSAJ, RWSB and RWT (Cayman), which were all part of RUSB prior to the Pre-Offering Reorganisation.
RUSB was incorporated in Malaysia under the Act in June 2000 as a public limited company under the name of Insan Utiliti Berhad and assumed the name of Ranhill Utilities Berhad in January 2002. The incorporation of Ranhill Utilities Berhad was primarily to facilitate SAJH's listing on the Main Board of Kuala Lumpur Stock Exchange (now known as Main Market of Bursa Securities). SAJH was formed to carry out the water supply services in Johor for 30 years commencing from 1 March 2000. Pursuant to its delisting on 28 August 2008, Ranhill Utilities Berhad subsequently assumed the name of RUSB on 2 July 2009.
Pursuant to a vesting order made in 1994 by the Menteri Besar Johor under the Water Supply Enactment 1993, all assets, rights, liabilities and staff of the State Government of Johor with respect to the water supply services were transferred to and vested in SAJSB, a company owned by the State Government of Johor. The water supply services business in Johor was subsequently privatised to SAJH as part of the State Government of Johor's effort to further improve the operation and service level of water supply in Johor. In April 1999, SAJH, together with LOSB, entered into a concession agreement with the State Government of Johor and SAJSB to provide water supply services to the entire State of Johor.
On 1 September 2009, SAJH migrated to the licensing regime under the Water Services Industry Act, and the concession agreement was terminated upon SAJH's migration to the new licensing regime.
In February 2005, RUSB acquired a 70% equity stake in RWT, which enabled the company to expand into wastewater and sewerage technology business, particularly in the areas of potable water treatment, wastewater and sewerage treatment as well as process water systems. At the point of acquisition, RWT had a track record of completing water and wastewater treatment projects throughout Asia, notably Malaysia, Thailand and China. Subsequently, in 2008, RUSB formed RWT (Cayman) through a joint-venture arrangement with Robinson, a unit of Aqua Resources Fund Limited, through which various water concessions in China previously held under RUSB Group were subsequently held under RWT (Cayman) pursuant to an internal reorganisation. In order to enhance Ranhill's position as well as reap higher benefits from its potential ventures in China, in June 2014, Ranhill entered into a conditional sale and purchase agreement with RUSB (in conjunction with the Acquisition of RUSB Companies as described in Section 6.1.4 of this Prospectus) for the post-Offering acquisition of the remaining 47.9% equity interest in RWT (Cayman) that Ranhill does not currently own. This acquisition will allow Ranhill to hold 100% equity interest in RWT (Cayman) after the completion of the Offering.
In February 2005, RUSB established RWSB to offer specialised operational support and services to water companies in the management and optimisation of water utility assets.
Power
Ranhill conducts its power business through RPI, RPII, RPOM, RPOMII and RPS, which were all part of RGSB prior to the Pre-Offering Reorganisation.
RGSB was incorporated in Malaysia under the Act in June 1972 as a private limited company under the name of EPE Power Corporation Berhad. Through its 60%-owned subsidiary RPI, RGSB operated a 120 MW electricity capacity open-cycle gas turbine power plant at Teluk Salut, Kota Kinabalu, Sabah pursuant to a power purchase agreement dated February 1997 entered into with Lembaga Letrik Sabah (now known as Sabah Electricity). The plant commenced initial operations in August 1998 and its COD as a 120 MW open-cycle power plant was February 1999. On 25 February 2004, RB became a shareholder of RGSB pursuant to the disposal of Powertron Resources Sdn Bhd to RGSB. RPI's power plant was subsequently upgraded to a total generating capacity of 190 MW using a CCGT configuration, and it commenced full combined-cycle operations on 25 October 2008.
On 24 January 2006, the Economic Planning Unit of the Prime Minister's Department awarded Ranhill Tuaran Sdn Bhd (now known as RPII), an 80%-owned subsidiary of RGSB, with a concession on a BOT basis for a 190 MW CCGT power plant in Sabah. The RPII power plant's initial COD in a single gas turbine open-cycle 65 MW configuration was 6 March 2010 and its COD as a two gas turbine 130 MW open-cycle facility was 9 July 2010. The RPII power plant commenced full 190 MW combined-cycle operations on 22 April 2011.
Ranhill conducts routine maintenance on both the RPI and RPII power plants through its subsidiaries RPOM and RPOMII. Ranhill owns a 60% equity interest in RPOM, which provides O&M services to the RPI power plant, and also own an 80% equity interest in RPOMII, which provides O&M services to the RPII power plant.
The remaining equity interests in RPI, RPII, RPOM and RPOMII are owned by SECSB.
