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. 
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Did you find this article insightful?


Next In Business News

Japanese investors dump record amount of foreign bonds
Jamaludin, Gita appointed to Axiata advisory panel
HSBC Malaysia continues to see great opportunities in commercial banking
China to speed up tapping new energy sources, but coal stays in mix
Suhaili Idrus appointed chairman of MPRC
MPHB Capital unit still in talks to sell stake in MPI Generali
MARC upgrades QSP Semenanjung’s RM1b sukuk
KLCI remains caught in consolidation
China vows oversight of fintech, financial holding firms
China ramps up tech commitment in 5-year plan

Stories You'll Enjoy