KUALA LUMPUR (Nov 9): Engineering and energy solutions provider Kejuruteraan Asastera Bhd (KAB) is expanding its sustainable energy solutions (SES) segment through the proposed acquisition of the entire equity of Future Biomass Gasification Sdn Bhd (FBG) for RM15 million. In a Bursa Malaysia filing on Wednesday (Nov 9), KAB said FBG, a wholly owned subsidiary of Future NRG Sdn Bhd (FNSB), owns a biogas power plant in Kedah with an installed capacity of 2.4 megawatt. KAB said it would benefit from long-term recurring income via FBG’s existing renewable energy power purchase agreement (REPPA) with Tenaga Nasional Bhd (TNB). “The plant would also contribute to building a stable stream of long-term income for the group,” said Lai. At the midday break on Wednesday, KAB dipped 2.08% or one sen to 47 sen with 13.74 million shares done.

Source: The Edge Markets November 09, 2022 21:51 UTC