Tenaga plans foray into smart homes, cities

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) plans to venture into smart homes and smart industries through its purchase of  Setia Haruman Technology Bhd (SHTech) for RM28mil.

The power giant said on Friday it had signed a conditional sale and purchase agreement with Setia Haruman Sdn Bhd for purchase of the latter's 100% stake in SHTech.

After the completion of the purchase, SHTech will become a unit of TNB and continue to carry out the existing business as an information technology related services provider.

“Reimagining TNB is a strategic initiative introduced to empower TNB to pursue further growth in complementary and strategic service offerings. 

“Under this initiative, TNB plans to venture into various services such as smart meters, smart homes, smart building, smart industries and smart cities,” it said.