PETALING JAYA: AHB Holdings Bhd
(AHB) has announced a joint venture or JV and collaboration agreement with Seri Beskaya Sdn Bhd (SBSB) to establish a strategic joint venture via a special-purpose vehicle (SPV).
The SPV will focus on dealing in generator sets, power generation systems, accessories, components and related services, AHB noted in an exchange filing.
Under the agreement, AHB will hold a 51% equity stake in the SPV and SBSB the remaining 49%. In exchange for SBSB migrating existing contracts worth RM4.45mil and injecting inventory valued at a minimum of RM2mil as initial working capital, AHB will transfer a 52.86% equity stake in its subsidiary, Grid Engineering Sdn Bhd (GESB), to SBSB.
Despite reducing its stake in GESB to 40%, AHB will retain management control, ensuring GESB remains a consolidated subsidiary.
