Malaysia's national petroleum company, Petronas is reportedly looking into selling a “minority stake” in Gentari. The green energy and mobility subsidiary was first introduced to the world in June 202 before officially debuting in September of the same year.
Gentari stake is valued as high as RM2.17 billion
According to the report by Bloomberg, Petronas is considering the move to let Gentari expand its business. The stake is said to be worth between USD300 million (~RM1.30 billion) to USD500 million (~RM2.17 billion).
However, nothing is concrete at the moment. The report claimed that Petronas is still working with an adviser to iron out the details including sale size and Gentari's actual valuation.
Bloomberg's source also said that there is still the possibility Petronas will not proceed with the move. Nevertheless, the potential sale has already attracted interest from "infrastructure funds and industry peers" says the report.
Gentari is not just a CPO
For most Malaysians especially EV owners, Gentari is known as one of the largest Charge Point Operators (CPO) in Malaysia. However, Gentari's reach in the green energy and mobility industry goes beyond EV charging stations.
That being said, Gentari business ventures might not be that visible to most people. Among the endeavours that the company is working on at the moment include Vehicle-as-a-Service (VaaS), solar infrastructure, wind farms, green hydrogen, and green ammonia.
Aside from Malaysia, Gentari also has maintained operations in India and Australia. The company said that it also has signed more than 20 strategic alliances with government agencies, private companies, and international organisations across Asia Pacific.
