Pitahaya concludes Pimpinan Ehsan s MGO thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR (March 11): Malaysian solar company reNIKOLA Sdn Bhd aims to reach 1GW peak generation by 2025 by adding capacity and through acquisitions, according to managing director Boumhidi Adel. Our sights are set on projects in Malaysia but we don t discount looking at projects in the ASEAN region in the near future, he said in an interview.
The Kuala Lumpur-based company is also looking at other forms of renewable energy that fit its investment criteria and environmental, social, and corporate governance philosophy.
reNIKOLA is in the process of being bought by a local cash shell firm, Pimpinan Ehsan Bhd, which will turn Pimpinan Ehsan into the nation s only listed pure renewable energy firm, according to the company s official statement.
Mixed response from renewable energy-related players to news of LSS4 award theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
The FBM KLCI finished the first day of March lower, with declines in rubber glove counters pushing the benchmark index downwards. At market close, the index was down 0.67% or 10.61 points at 1,567.14.
A corporate exercise quietly announced a week ago seems to have gotten the notice of some investors.
Pimpinan Ehsan Bhd (PEB), a company that was controlled by tycoon Tan Sri Rozali Ismail, a cash shell looking for an acquisition target, made two stock exchange filings on Feb 19.
One, that Rozali and other shareholders had sold out of the company to new parties, thereby triggering a mandatory general offer (MGO) and two, that PEB was planning to acquire solar power assets.
Since the announcement, PEB shares have almost doubled in a matter of a week.
So why the excitement?
It is likely to do with the fact that PEB is morphing into a pure play renewable energy company, a move which sits well with the global push towards environmental goals. Another reason could be the presence of seasoned corporate personality Lim Beng Guan as the new major shareholder of PEB.