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

Kenanga lowers earnings forecast on Genting Malaysia amid further lockdowns
Foreign investors turn net buyers again on Bursa Malaysia
Quick take: Samaiden rises on power plant contract
Bank stocks fall on speculation over further OPR cut
Quick take: Kanger gains 3% on diversification into construction
Trading ideas: Top Glove, Kanger, Daya, Samaiden, MESB, Seacera
AmInvestment initiates 'buy' on Perak Transit on business model potential
Asia shares step back, await China economic update
UK vacancies for remote workers triple in a year
Japan PM's approval sinks further on pandemic response

Stories You'll Enjoy