PETALING JAYA: Seal Incorporated Bhd
is proposing to diversify its existing principal activities to include investment in renewable energy (RE) and related activities.
In a filing with Bursa Malaysia, Seal, which is primarily involved in property investment, building contractor, project manager for property development and extraction and sale of timber, said its revenue had been declining for the past three financial years up to the financial year ended June 30, 2024.
“The group’s financial performance over the financial years under review had mainly relied on property development and property investment which collectively contributed approximately 86% of the group’s total revenue.
“As part of the group’s strategy to diversify and create an additional revenue and income stream, it has therefore identified the investment in RE and related activities such as solar energy as a viable business to venture into.”
Notwithstanding the proposed diversification, Seal said it intends to continue with its existing businesses and the board will review the group’s business performance from time to time, with the intention to further improve its financial performance.
