Solarvest said the acquisition aligns with its five-year roadmap.
PETALING JAYA: Solarvest Holdings Bhd
is acquiring 450,000 shares, representing a 30% stake in SIW Manufacturing Sdn Bhd (SMSB), for RM36mil.
In a filing with Bursa Malaysia, Solarvest said it had entered into a share sale agreement with SMSB’s shareholders, Chan Chee Wei and Voon Sin Choo, for the stake acquisition.
SMSB is principally involved in manufacturing waste gas abatement machines and gas system-related modules and components for the semiconductor industry.
Solarvest said the acquisition aligns with its five-year roadmap, which focuses on expanding its presence in the clean energy and sustainable technology sectors.
“By acquiring a 30% equity stake in SMSB, Solarvest aims to diversify its revenue and earnings through entry into high-growth markets, while broadening its technological capabilities.
“Leveraging SMSB’s expertise in waste gas abatement and gas systems, the acquisition unlocks opportunities for operational synergies and complements Solarvest’s existing clean energy solutions,” the company said.
