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Uzma enters renewable energy business

KUALA LUMPUR: Oil and gas contractor Uzma Bhd is buying two companies involved in the solar energy business, marking the group's first foray into the fast growing industry.

The company on Monday said it had enetered into separate deals to acquire a 49% stake in Suria Infiniti Sdn Bhd and a 100% interest in Mahendran Surya Innovations Sdn Bhd for a total of RM5.39mil.

"The Proposed Acquisition represents an excellent opportunity for Uzma to enter the renewables energy sector with an established EPCC contractor to capitalize on the opportunities within the solar value chain which includes net energy metering, large scale solar projects and other service portfolios within the renewable energy market," it said.


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