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KUALA LUMPUR: Main Market-listed Pimpinan Ehsan Bhd (PEB) has entered into a second supplemental and restated share sale agreement (supplemental SSA II) with B.Grimm Power (Malaysia) Sdn Bhd, reNIKOLA Sdn Bhd, Boumhidi Adel and Tengku Zaiton Sultan Abu Bakar on the proposed acquisition of reNIKOLA Holdings Sdn Bhd and its subsidiaries.
A spike in the cost of solar panels has thrown the solar power industry into focus
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...
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 w...
KUALA LUMPUR: The FBM KLCI ended the day in negative territory as traders continued to take profits, marking a second straight day of losses. At 5pm, the FBM KLCI closed down 5.41 points, or 0.34% at 1,565.05. The index opened 3.21 points firmer at 1,573.67 this morning. The market traded within a range of 11.86 points between an intra-day high of 1,580.68 and a low of 1,568.82 during the session. There were 603 gainers against 602 decliners while 450 counters closed unchanged. Volume stood at 11.45 billion units worth RM5.54bil. Dealers said selling pressure on glove counters continued ahead...