Petronas is contemplating selling a stake in Gentari, according to a recent report. This sale aims to facilitate business expansion and could be valued at over RM2 billion.
Gentari x JomCharge EV charging hub at Petronas Bandar Baru Ayer Hitam, Johor., Petronas is considering the move to let Gentari expand its business. The stake is said to be worth between USD300 million to USD500 million .
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. BYD Atto 3 and Eclimo ES-11 are some of the vehicles that are available through the Gentari Vehicle-as-a-Service plan.
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.7.4MWp Solar PV Rooftop Panel system at Universiti Teknologi Petronas For most Malaysians especially EV owners, Gentari is known as one of the largest Charge Point Operators in Malaysia.
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 , solar infrastructure, wind farms, green hydrogen, and green ammonia.Aside from Malaysia, Gentari also has maintained operations in India and Australia.
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