TNB completes RM28m acquisition of Setia Haruman

08 Mar 2018 / 13:33 H.

    PETALING JAYA: Tenaga Nasional Bhd (TNB) has completed its acquisition of the entire stake in Setia Haruman Technology Sdn Bhd (SHTech) for RM28 million cash.
    SHTech, a wholly-owned subsidiary of Setia Haruman Sdn Bhd, is involved in the information technology related services.
    TNB said upon completion of the acquisition, SHTech will continue to carry out the company's existing business as an information technology related services provider.

    "Reimagining TNB is a strategic initiative introduced to empower TNB to pursue further growth in complementary and strategic service offerings," it said in a statement.
    Under this initiative, the group noted that it plans to venture into various services such as smart meters, smart homes, smart building, smart industries and smart cities.
    At 12.30pm, TNB's share price rose 2 sen to RM15.62 on some 3.5 million shares done.

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