PETALING JAYA: Solarvest Holdings Bhd
is acquiring a 30% of the equity interest in mechanical and electrical engineering solutions firm Kee Ming Electrical Sdn Bhd (KMESB) from shareholders Liew Kar Hoe and Liew Kar Wai, for RM15.3mil.
In a filing with Bursa Malaysia, Solarvest said the proposed acquisition is in line with its five-year strategic roadmap (2022-2026) to maintain its market leader position in the solar engineering, procurement, construction and commissioning (EPCC) segment, through tuck-in acquisition to enhance its technical capabilities and solidifies its reputation for innovation, comprehensive services and market presence.
“Further, the proposed acquisition enables both the company and KMESB to leverage their complementary strengths and shared customer segments to strengthen the company’s market presence, enhance service offerings, and unlock future growth opportunities, as well as potentially creating cost and operational synergies for execution of Solarvest’s solar EPCC projects.”
Solarvest said the acquisition will augur well for the company through the potential long-term benefits from maintaining its market leader position in the solar EPCC segment.
