PETALING JAYA: Jaycorp Bhd
is proposing to acquire a 40% stake in renewable energy, biomass and environmentally friendly waste treatment firm Jaycorp Green Energy Sdn Bhd (JGE) from Microban (M) Sdn Bhd for RM15mil.
In conjunction with the proposed acquisition, Jaycorp said in a bourse filing that it intends to undertake a proposed diversification of its business activities to include the investment, development and/or operation of renewable energy assets and related activities, including but not limited to solar, biomass, biogas and waste to energy.
“The proposed acquisition represents a lower-risk investment for the group, as JGE is already an existing subsidiary of the group with established operations, cash flow and profitability,” it said.
