KUALA LUMPUR (Nov 13): Trive Property Group Bhd signed a joint venture agreement (JVA) with Jiangxi Fujing New Energy Technology Co Ltd for a planned collaboration in the manufacturing and sale of solar energy products.
In a statement to Bursa Malaysia today, Trive said the products will include solar cells and panels. Trive said it had signed the JVA with Jiangxi Fujing on Friday (Nov 10).
Today, Trive said : "The JV provides an opportunity for the company to develop its solar business which is expected to provide an additional source of earnings and improve its financial performance."
According to Trive, the company and Jiangxi Fujing will form JV company Daima Fujing New Energy Technology Sdn Bhd under the JVA.
Trive's share trade was suspended between 9am and 10am today in conjunction with the JVA announcement. At 10:19am, Trive shares were traded at 10 sen. — theedgemarkets.com