PETALING JAYA: Bursa Malaysia-listed Powerwell Holdings Bhd, via its wholly owned subsidiary Powerwell International Sdn Bhd,today entered into a memo...
Bursa Malaysia-listed Powerwell Holdings Bhd, via its wholly owned subsidiary Powerwell International Sdn Bhd,today entered into a memorandum of understanding to acquire a majority stake in M Electrical & Engineering Sdn Bhd, a Malaysia-based electrical and engineering solutions provider with a growing presence in the Asean region.
The strategic acquisition puts Powerwell at the forefront of driving the electrical industry. The group aims to revolutionise the electrical industry by developing state-of-the-art electrical houses , which are customisable, preassembled, and pretested modular power substations. The growing demand for reduced cost, risks, and delivery time propels the electrical industry away from traditional practices and towards e-house technology. These customised, preassembled, and pre-tested modular power substations are ideal for various applications, including industrial, utilities, renewable energy, outdoor switchgear, and moveable or mobile substations.
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