PETALING JAYA: NuEnergy Holdings Bhd
(NHB) is disposing of its 50% stake in warehousing and related value-added services firm, Integrated Mits Sdn Bhd (Imits), to Mitsui-Soko International Pte Ltd for RM24.5mil.
In a filing with Bursa Malaysia, the solar power plant operator said the disposal is in line with its strategy to divest non-core assets and focus on the renewable energy industry.
“Imits’ main businesses are in the warehousing and related value-added services which is not the core business of NHB.
NHB said it will be able to use the sale proceeds for potential investment in renewable energy related projects, which is expected to generate higher returns than Imits.
“The proposed disposal is expected to be completed in the first quarter of 2026,” it said.
“The board, after due consideration of all aspects of the proposed disposal, is of the opinion that the disposal is in the best interest of the group,” it said.
