Darco to give up solar energy, focus on core businesses

Singapore

DARCO Water Technologies, which relaunched itself some two years ago following an embezzlement debacle at one of its subsidiaries, on Tuesday updated shareholders on its strategy and future plans - saying it intends to focus on its core businesses in its traditional areas of environmental systems and water management services, and give up its recent investment into solar energy.

The group had previously announced plans to venture into the solar power industry on a "small scale" due to - among other things - business opportunities in the solar power industry. These plans were spearheaded by its then-CEO and founder Thye Kim Meng.