Construction firm Nestcon Bhd plans to expand into the renewable energy (RE) sector, aiming to capitalise on Malaysia's growing demand for clean energy.

The proposed diversification includes activities such as solar PV systems installation and project management.

Nestcon anticipates significant contributions from the RE business, potentially constituting 25% or more of its net profits and assets in the future.

Shareholders will vote on the proposal at an upcoming EGM, with M&A Securities serving as the financial adviser.

Nestcon's shares ended at 36 sen, half a sen or 1.41% higher, bringing the company's market capitalisation to RM254.93 million.