Engtex to venture into clean energy solution

KUALA LUMPUR: Engtex Group Bhd has proposed to acquire a 51% stake in Leading Wonder Sdn Bhd (LWSB) to participate in the clean energy solution.

“The acquisition will enable Engtex to participate in the clean energy solution which will contribute to the green environment,” Engtex said in a filing with Bursa Malaysia.

Engtex is acquiring the stake from Beh Hock Seng and Leong Chee Seong, non-related parties, for RM62,291.51 cash.

Following the acquisition, LWSB becomes a 51% owned subsidiary of Engtex.

The balance of 49% is held by Northern Solar Sdn Bhd, a non-related company.

LWSB is currently dormant and its intended principal activity is provision of solar energy solutions.