Genetec Technology agrees to sell 50% stake in Citaglobal Genetec BESS to Citaglobal New Energy

• Genetec Technology agreed on November 6, 2026, to sell its entire 50% stake in CG BESS to Citaglobal New Energy.
• The RM 1 transaction includes transferring RM 2.24 million owed by CG BESS to the buyer.
• The investment and intercompany balance have been fully impaired; CG BESS has incurred losses since operations began in 2023.
• The deal ends the joint venture relationship with Citaglobal, allowing both parties to pursue separate strategic priorities.
• Completion is expected in the fourth quarter of 2026, subject to conditions including transferring relevant project contracts to Genetec.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Genetec Technology Bhd published the original content used to generate this news brief via Bursa Malaysia (KLSE) (Ref. ID: 3722772) on November 06, 2026, and is solely responsible for the information contained therein.