KUALA LUMPUR: Sunview Group Bhd
’s wholly-owned subsidiary, Fabulous Sunview Sdn Bhd has entered into a preliminary joint venture agreement with Vision Ambassadors Company for International Trade Consultancy, LLC.
Under the agreement, Fabulous Sunview and Vision Ambassadors will collaborate to establish Sunview (Middle East) LLC, a special purpose vehicle (SPV), focusing on exploring opportunities related to renewable energy (RE) in the territory of Middle East, Gulf Cooperation Council and Central Asia.
In a statement, Sunview said Fabulous Sunview will hold a 40% stake in the SPV, while Vision Ambassadors holds the remaining 60%.
The parties have agreed that the initial paid-up capital for the SPV will be Saudi Riyal (SAR) 100,000.00 equivalent to RM127,533.00 and each party will contribute to this capital based on their respective percentage stakes.
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