KUALA LUMPUR: TRIVE PROPERTY GROUP BHD has established a joint-venture (JV) company with China-based Fortunate Solar Technology Ltd to tap into solar business with a total investment of RM60mil.
In a statement, Trive Property said the 50:50 JV company would set up a factory in the Kulim Hi-Tech Park in Kedah to provide a full range of products or a one-stop solution in the solar business.
Fortune Solar is involved mainly in solar and silicon products/services.
Trive executive director Kua Khai Shyuan said the end products would mainly be sold in Malaysia and China.
“The balance thereof will be exported to the United States, as well as European and other countries,” he said.
Kua said the JV marked Trive’s footprint in China’s market with a huge potential revenue.
“It is noted that China itself accounted for 23% of the cumulative global photovoltaic system installation in 2016,” he said.
The ties will also see the two companies collaborating in the area of research and development, production, assembly, distribution and marketing of the solar energy systems. — Bernama