Summary
- Citaglobal reduces acquisition price to RM14.5 million.
- Deal involves a 70% stake in a 6MW hydropower plant.
- Another 6MW hydropower project planned in Kampar.
KUALA LUMPUR, October 13 — Citaglobal Berhad has revised its proposed acquisition of a 70% stake in Zeqna Corporation, which operates the 6MW Slim hydropower plant in Perak.
Reducing the purchase price from RM15 million to RM14.5 million. The company has paid RM4 million, with the remaining RM10.5 million due by Oct 29.
The operating plant holds a long-term power purchase agreement with Tenaga Nasional Berhad, providing potential recurring revenue from renewable electricity generation.
Citaglobal is also pursuing a 70% stake in Koridor Mentari, which is developing another 6MW hydropower project in Kampar, Perak.
