Citaglobal Berhad (“Citaglobal” or “the Group”) today announced that its wholly owned subsidiary, Citaglobal Renewable Energy Sdn Bhd (“CGRESB”), has entered into a supplemental agreement for its proposed acquisition of a 70% stake in Zeqna Corporation Sdn Bhd (“Zeqna”), the owner and operator of the 6MW Slim hydropower plant in Perak.`
Under the revised terms, the purchase consideration for the stake in Zeqna has been reduced from RM15 million to RM14.5 million. CGRESB has already paid RM4 million, with the remaining RM10.5 million payable by 29 October 2026.
The proposed acquisition would give Citaglobal a controlling interest in an operating power generation business. Slim’s long-term renewable energy power purchase agreement with Tenaga Nasional Berhad supports the Group’s plans to build recurring revenue from electricity generation.
The Slim investment is being pursued alongside the Group’s proposed acquisition of a 70% stake in Koridor Mentari Sdn Bhd, which is developing the 6MW Kampar hydropower project in Perak. Together, the proposed acquisitions would expand Citaglobal’s New Energy portfolio through an operating generation business at Slim and further capacity under development at Kampar.
