Thrive Prop­erty’s di­ver­si­fi­ca­tion at­tracts in­vestors’ in­ter­est

New Straits Times - - Business -

KUALA LUMPUR: Thrive Prop­erty Group Bhd’s de­ci­sion to di­ver­sify into the re­new­able en­ergy busi­ness ap­pears to have at­tracted in­vestors’ in­ter­est.

Thrive Prop­erty’s share price has jumped from nine sen to 20 sen from the day the com­pany signed a mem­o­ran­dum of un­der­stand­ing with China’s Hubei Guang Bo New En­ergy Co Ltd on March 15 to jointly man­u­fac­ture wind-so­lar power gen­er­a­tion equip­ment.

The joint ven­ture pro­vides Thrive Prop­erty the op­por­tu­nity to gain ad­di­tional ca­pac­ity and the ex­per­tise of new tech­no­log­i­cal knowl­edge in re­new­able en­ergy.

Un­der the deal, the com­pany’s fa­cil­ity in Kulim, Kedah, would man­u­fac­ture so­lar equip­ment.

Both com­pa­nies would be in­volved in re­search and de­vel­op­ment, pro­duc­tion, assem­bly, dis­tri­bu­tion and mar­ket­ing of power gen­er­a­tion sys­tems, in­clud­ing the off-grid and grid-con­nected wind power gen­er­a­tion sys­tem.

Guang Bo’s prod­ucts and sys­tems are used in many in­dus­tries as well as the me­te­o­ro­log­i­cal ob­ser­va­tion sta­tion in Sichuan Prov­ince.

Its en­ergy prod­ucts are also used in ho­tel en­gi­neer­ing projects in Shan­dong, fish farm­ing, plant growth lights, busstop sign light­ing, traf­fic lights and high­ways.

On Fe­bru­ary 2, Thrive Prop­erty had pro­posed the is­suance of one free bonus war­rant for ev­ery two shares.

Each free war­rant would en­ti­tle the war­rant hold­ers to be is­sued one new Thrive Prop­erty share by sur­ren­der­ing the war­rant back to the com­pany, with 10 sen as the ex­er­cise price of the war­rant.

At the cur­rent price of 20 sen per Thrive Prop­erty share, each free war­rant is worth 10 sen.

On Fri­day, its share price closed at a 52-week high of 20 sen, with 86,985,100 shares traded.

Jump in Thrive Prop­erty Group Bhd’s

share price since it signed a mem­o­ran­dum of un­der­stand­ing with China’s Hubei Guang Bo New En­ergy Co Ltd on

March 15

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