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Seal announced that it had entered into a binding term sheet of for the proposed acquisition of 10% stake MSRGE for a total purchase consideration of RM21.00 million, to be satisfied through a combination of cash and issuance of new ordinary shares in Seal.
MSRGE is principally involved in solar photovoltaic (“PV”) installation system and renewal energy projects, project management, and consultancy and electrical works. It develops solar PV plants, the process of which includes design and
engineering, procurement, construction and commissioning (“EPCC”) of solar PV system. MSRGE also provides engineering, procurement and construction services for battery energy storage system (“BESS”).
