In a Bursa Malaysia filing this afternoon, the group said KAB will have majority control on the board of directors which shall have the overall control and management of LSB.
“This acquisition is key for KAB as the first foray for the group into the solar business with great synergy to both parties. I believe the solar sector has great potential supportive favourable government policies and we would like to be part of the sustainable energy ecosystem,” said KAB managing director Datuk Lai Keng Onn.
LSB is a service provider for solar photovoltaic and energy efficiency solutions and operates the SimpliSolar brand, which is a renewable energy and energy efficiency player in Southeast Asia.
Source: The Sun Daily