NEXGRAM Holdings Bhd said that its wholly-owned sub-subsidiary, NEC Suria Infra Bersama Sdn Bhd (NEC), has entered into a conditional share sale agreement (CSSA) to acquire a 70% stake in GAD Energy Sdn Bhd for RM20 million.
The purchase will be satisfied entirely through the issuance of 40 million redeemable convertible preference shares (RCPS) in NEC at 50 sen each to the three vendors, namely Foo Seh Kai, Leow Hiong Wei and Tay Chia Ping.
GAD Energy, incorporated in October 2024, is an engineering, procurement, construction and commissioning (EPCC) firm involved in energy storage systems, solar farm design and renewable energy projects.
Under the CSSA, the vendors have jointly and severally provided a profit guarantee of RM5 million per year for four consecutive years from August 2025 to July 2029, representing a cumulative RM20 million profit guarantee.
Nexgram said the acquisition will strengthen its renewable energy and sustainability portfolio and expand its in-house EPCC capabilities.
“The proposed acquisition is part of Nexgram’s strategic expansion of its EPCC and surveillance capabilities into the renewable energy and sustainability segment,” the group said. It added that the deal will enhance project delivery efficiency, cost control and technical competency across its energy-related subsidiaries.
The group said the transaction is expected to contribute positively to earnings over the medium to long term.
Nexgram said the acquisition is expected to be completed within 14 days, and does not require shareholder or regulatory approvals. — TMR
For more details, visit nexgram.co.
https://themalaysianreserve.com/2025/10/10/nexgram-buys-70-stake-in-gad-energy-for-rm20m