GUH unit sells renewable energy venture stake

PETALING JAYA: GUH Holdings Bhd’s 40%-owned associate, Leader GUH Renewable Energy Co Ltd, has proposed to dispose of its entire 60% equity interest of Yabisi Solar Power Co Ltd for a total cash consideration of 21,208,718 new Taiwan dollars (RM3.11mil).

In a filing with Bursa Malaysia yesterday, GUH noted a share purchase agreement has been signed with Hsinking Construction Co Ltd (the buyer) for this purpose.

“Upon completion of the proposed disposal, Yabisi will cease to be the indirect associate of GUH. For avoidance of doubt, the proposed disposal is not a related party transaction,” it said.