DRB-Hicom Bhd through its subsidiary, DRB-Hicom Environmental Services Sdn Bhd (DHES), has withdrawn from the conditional offer by Malakoff Corp Bhd from the government to undertake the construction and development of a 50MW large-scale solar photovoltaic (PV) plant in Tanjung Malim, Perak.
In an exchange filing to Bursa Malaysia, the conglomerate noted that DHES was unable to reach mutual agreement on certain terms and conditions of the joint venture, which will undertake the project.
DHES is a fully owned subsidiary company of Alam Flora Sdn Bhd under DRB-Hicom. It specialises in providing premium and competitive environmental services to enrich the quality of life. Its core businesses comprise integrated facilities management, operation waste management, industrial and commercial recycling and DHES engineering.