KUALA LUMPUR: Construction company Nestcon Bhd is proposing to diversify its business to include engineering, procurement, construction and commissioning of solar photovoltaic (PV) systems, project management of renewable energy (RE) activities, as well as owning and operating solar PV assets.
Driven by the group’s strategy to achieve continuous growth, Nestcon said in a Bursa Malaysia filing that it has identified the RE business as a new segment to venture into, intending to create an additional source of income to its existing core businesses.
“The group seeks to reduce its dependency on its existing business operations through the proposed diversification. The board believes that the diversification into the RE industry will be beneficial to the group’s future prospects in view of the growing demand for RE.”