PETALING JAYA: Solarvest Holdings Bhd
is acquiring a 22% stake in ACE-Market listed Solar District Cooling Group Bhd (SDCG) for RM41.96mil.
In a filing with Bursa Malaysia, the solar engineering, procurement, construction and commissioning firm said it acquired the stake in SDCG from Kong Kam Onn and Liuk Ing Hong.
Both Kong and Liuk are promoters and substantial shareholders of SDCG, with Kong serving as managing director and Liuk as executive director.
“The acquisition represents a strategic opportunity for Solarvest to gain a foothold in solar thermal systems and energy-saving services, as SDCG’s established businesses are expected to create operational and commercial synergies, including the potential for integrated energy solutions and cross-selling opportunities,” it added.
