PETALING JAYA: Reservoir Link Energy Bhd
(RLEB) is acquiring SAG Renewables Sdn Bhd (SAGR) for RM10.5mil.
In a filing with Bursa Malaysia, RLEB said its wholly-owned subsidiary, Reservoir Link Renewable Sdn Bhd, had entered into a share sale agreement with SAG Green Tech Sdn Bhd for the proposed acquisition of one million shares, representing a 100% equity interest in SAGR.
RLEB said the proposed acquisition represents an opportunity for the group to expand its revenue-generating assets.
“The identified assets have been installed on 13 sites for nine clients and operational since 2022. “This allows us to capitalise on sustainable income streams immediately upon completion of the acquisition.
“Furthermore, the acquisition will contribute to the group’s renewable energy ambition of 100 megawatt peak by 2025.”
