KAB acquires MSSB for RM5.3mil

PETALING JAYA: Kinergy Advancement Bhd (KAB) has completed the acquisition of Matahari Suria Sdn Bhd (MSSB) for RM5.3mil.

In a filing with Bursa Malaysia, the energy and engineering solutions provider said the acquisition was completed by its wholly-owned subsidiary, KAB Energy Holdings Sdn Bhd, thus further expanding its sustainable energy solutions segment's portfolio.

MSSB owns a solar photovoltaic system on the rooftop of Universiti Teknologi Malaysia Kuala Lumpur and has an ongoing renewable energy power purchase agreement to supply energy to Tenaga Nasional Berhad under a feed-in tariff concession until 2037.