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This article first appeared in The Edge Financial Daily on August 1, 2019

KUALA LUMPUR: Trive Property Group Bhd has aborted its plan to undertake research and development, assembly, production, distribution and marketing of photovoltaic products such as solar cells, panels or modules in a joint venture (JV) with China-based Jiangxi Fujing New Energy Technology Co Ltd (JFNET).

In a filing with Bursa Malaysia yesterday, Trive said the company and JFNET have mutually terminated the JV entered into on Nov 10, 2017, without giving any reason. “There are no matters or payment pending from either party as at July 31,” it added.

Under the collaboration, Trive and JFNET were to incorporate a JV company to be known as Daima Fujing New Energy Technology Sdn Bhd.

The JV was intended to provide Trive an opportunity to develop its solar business, which was expected to provide an additional source of earnings and improve its financial performance.

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