MAIN Market-listed DPS Resources Bhd, a key player in construction, housing development, manufacturing and trading of home furniture, has entered into the green energy space by leveraging its track record in civil and structural work including infrastructure and earth work.
This comes about after its wholly owned subsidiary DPS Sunview Sdn Bhd inked a shareholders’ agreement with Sunview Asset Management Sdn Bhd (SAM), a wholly owned subsidiary of Sunview Group Bhd.
The collaboration entails the subscription of 199,900 ordinary shares in DPS Sunview at an issue price of RM1.00 each.
“This partnership perfectly aligns strengths and expertise,” DPS’ executive chairman Tan Sri Sow Chin Chuan pointed out.
“With our wholly owned subsidiary Shantawood Sdn Bhd’s CIDB G7 qualification and our proven track record in construction and civil engineering coupled with Sunview’s exceptional capabilities in solar PV systems, we believe this collaboration is strategic and highly synergistic.”
ACE Market-listed end-to-end solar photovoltaic system construction player Sunview Group is a leading expert in engineering procurement construction and commissioning (EPCC), mechanical and electrical (M&E) services, solar PV construction, installation services, and power generation.
A filing with Bursa Malaysia today shows that upon completion of the shareholders’ agreement, DPS will hold 60% with the balance of 40% in DPS Sunview held by the Sunview Group.
With its extensive landbank of more than 1,000 acres, DPS does provide a solid foundation for large-scale solar energy projects.
“The synergistic alliance between DPS and Sunview Group is poised to drive our financial growth and substantially impact environmental sustainability and social development,” envisages Sow.
“With a steadfast commitment to environmental, social and governance (ESG) goals, this collaboration aligns with our broader initiative to champion clean energy, foster job opportunities, and reduce our carbon footprint.”
Last November, DPS through its wholly owned subsidiary DPS Energy Sdn Bhd has sealed a joint venture agreement (JVA) with Mutiara Mahajuta Sdn Bhd for a piece of land measuring 190.09 acres in the Alor Gajah district, Melaka.
This collaboration involves a pioneering project encompassing agro-tourism, crops, bio-farms, renewable energy, solar farms, and aqua-phonics.
Free from encumbrances and boasting an agriculture land use category, the land is poised to become a cornerstone of sustainable development in the region. The JV is a significant component of the DPS Group’s overarching strategy to enhance the value of its accumulated landbanks.
At the close of today’s trading, DPS was up 0.5 sen or 1.05% to 48 sen with 849,500 shares traded, thus valuing the company at RM102 mil. – Jan 30, 2024
