Bina Darulaman Bhd (BDB) and Energise Sdn Bhd have mutually agreed to terminate their joint venture established to pursue green energy and biomass-related businesses, with both parties exiting the agreement before the venture commenced operations.
BDB said both parties signed a Letter of Agreement on July 2, 2026, to dissolve the joint venture and terminate the Joint Venture cum Shareholders Agreement (JVSA) in accordance with Clause 19.2 of the agreement, which permits a mutual written termination.
The joint venture, announced in June 2025, was established to operate and manage a green energy business, including the manufacture of organic biomass pellets, production and sale of bioenergy products, as well as the cultivation of agricultural products to supply raw materials for biomass production.
The collaboration also led to the incorporation of BDB Energise Sdn Bhd (BDBE) as the joint venture vehicle. However, BDB said BDBE had not commenced operations or secured any business projects prior to the decision to dissolve the venture.
Under the terms of the mutual dissolution, each party will bear its own costs and expenses incurred in relation to the JVSA, including expenses associated with the incorporation of BDBE and the termination of the joint venture.
The board of directors said it had considered all aspects of the mutual dissolution and concluded that the decision is in the best interests of the company.
