ARB unit acquires 51% stake in C&M Renewable Energy

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PETALING JAYA: ARB Bhd’s wholly owned subsidiary, ARB Development Sdn Bhd, has entered into a sale and purchase agreement to acquire a 51% sake in C&M Renewable Energy Technology Sdn Bhd (CMSB) for RM5.5mil.

In a statement, ARB, which was previously known as Aturmaju Resources Bhd, said CMSB had on Nov 20, 2018 entered into an agreement with USAINS Infotech Sdn Bhd (UISB), a wholly owned subsidiary of Universiti Sains Malaysia (USM), to install, operate and manage the solar photovoltaic system at the USM Faculty of Engineering located on a parcel of land measuring 364 acres in Nibong Tebal, Penang.