KUALA LUMPUR: West River Bhd
’s indirect wholly owned subsidiary, Neutron Power Sdn Bhd, has entered into a share sale agreement to acquire a 95% equity interest in Ace Hydropower Sdn Bhd for RM850,000 in cash.
In a filing with Bursa Malaysia, the electrical engineering and intelligent building solutions provider said that upon completion of the proposed acquisition, Ace Hydropower will become the indirect 95%-owned subsidiary of West River.
“The agreement follows the group’s earlier announcement on Sept 17, 2025, regarding the proposed acquisition.
“While the key terms remain largely consistent with the previously announced term sheet, the number of shares to be acquired has been revised.
“This adjustment was made after West River successfully met the agreed project timeline, allowing the company to acquire additional shares from the vendor at a mutually agreed consideration,” it said.
West River managing director Lim Yong Lai said the acquisition marked a step in the group’s move towards a greener growth strategy. “Hydropower is a proven, reliable renewable energy source, and the Kinta Hydropower Project will generate long-term, stable cash flows while enhancing shareholder value,” he said.
Lim said the company aims to generate sustainable returns for investors while supporting Malaysia’s carbon reduction targets and contributing to local communities in Perak.
“Beyond commercial returns, this project reflects our responsibility to contribute to Malaysia’s net-zero ambitions, and we look forward to working closely with regulators and local communities to ensure a sustainable and inclusive energy future,” he added.
Malaysia is committed to achieving net-zero greenhouse gas emissions by 2050. — Bernama
