ARB Bhd has secured a solar panel project with RM100 million total cash flow via its stake acquisition in project owner, C&M Renewable Energy Technology Sdn Bhd (CMSB).

The firm’s wholly-owned subsidiary, ARB Development Sdn Bhd has entered into a sales and purchase agreement to acquire a 51 per cent sake in CMSB for RM5.5 million.

ARB chief executive officer (Investment & Technology) Datuk Larry Liew said the solar panel project will provide a recurring income to the group.
“This is the just the Phase 1 (364 acres in Nibong Tebal) of the bigger roadmap that the group has developed to ensure a sustainable earnings growth,” he said in a statement.