KUALA LUMPUR: YB Ventures Bhd (YVB), a tiles manufacturer and information technology (IT) company, will be making its maiden foray into the renewable energy (RE) industry in Malaysia.
Today, the company formed a new wholly-owned subsidiary, YB Renewable Energy Sdn Bhd (YRE), to undertake activities related to RE in Malaysia.
YVB executive director Au Yee Boon said the incorporation of YRE opens up a new range of possibilities to continue to diversify
it's business.
"We are confident that this will be a key business segment to YVB, and we will continue to explore opportunities that add value and strengthen our presence in the RE sector," he said in a statement today.
Without divulging into details, Au said the management is in a few discussions that would potentially transform YVB into a key player in the RE sector, with the acquisition of earnings-accretive assets that will provide high recurring income to the company.
