PGB, Solarvest end MoU for RE project

PETALING JAYA: Paragon Globe Bhd (PGB) and Solarvest Holdings Bhd have mutually agreed to terminate their memorandum of understanding (MoU) to explore a renewable energy-focused industrial development.

PGB said the MoU signed in February was primarily focused on the development of a green industrial township within the Desa 100 development, and was no longer relevant following the sale of some of the land meant for the project.

The two plots of freehold land was sold to to Bridge Data Centres Malaysia IV Sdn Bhd and Bridge Data Centres Malaysia VI Sdn Bhd.

Solarvest said the termination of the M0U would not have any material financial impact.