Nestcon to diversify into RE

PETALING JAYA: Construction company Nestcon Bhd is proposing to diversify its business to include engineering, procurement, construction and commissioning of solar photovoltaic (PV) systems, project management of renewable energy (RE) activities, as well as owning and operating solar PV assets.

Driven by the group’s strategy to achieve continuous growth, Nestcon said in a filing with Bursa Malaysia that it has identified the RE business as a new segment to venture into, with the aim of creating an additional source of income to its existing core businesses.

“The board believes the diversification into the RE industry will be beneficial to the group’s future prospects in view of the growing demand for RE.”