TNB acquires Setia Haruman Technology for RM28mil

said its unit, TNB Bukit Selambau Solar Sdn Bhd (TBSS), had reached financial close for the project with MUFG Bank (M) Bhd (formerly Bank of Tokyo-Mitsubishi UFJ (M) Bhd).

KUALA LUMPUR: Tenaga Nasional Bhd has completed the acquisition of the entire stake in Setia Haruman Sdn Bhd’s wholly owned subsidiary, Setia Haruman
Technology Sdn Bhd (SHTech) for RM28mil.

In a filing with Bursa Malaysia, the proposed acquisition was completed today in accordance with the terms and conditions of the conditional sale and purchase agreement.

In a separate statement, TNB said the acquisition was funded through its internally generated funds.

“With the completion of the acquisition, SHTech will become a wholly-owned subsidiary of TNB and thereafter will continue to carry out the existing business of SHTech as an information technology related services provider,” TNB said.