DPS partners with Sunview to develop green energy projects
KUALA LUMPUR: DPS Resources Bhd (DPS), a key player in construction, housing development, manufacturing and trading of home furniture, via its wholly-owned subsidiary, DPS Sunview Sdn Bhd (DPSS), entered into a Shareholders Agreement (SHA) with Sunview Asset Management Sdn Bhd (SAM), a wholly owned subsidiary of Sunview Group Bhd.
This collaboration entails the subscription of 199,900 ordinary shares in DPS Sunview Sdn Bhd (DPSS) at an issue price of RM1.00 each.
In a press statement, it explained that this move marks DPS’ entry into the green energy space, leveraging its track record in civil and structural work including infrastructure and earth work and Sunview’s expertise in solar photovoltaic systems, Engineering Procurement Construction and Commissioning (EPCC) and M&E.
DPS executive chairman Tan Sri Sow Chin Chuan said, “This partnership perfectly aligns strengths and expertise. With our wholly-owned subsidiary Shantawood’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.”
SAM is a wholly-owned subsidiary of ACE Market listed end-to-end solar photovoltaic system construction player Sunview. Sunview is a leading expert in EPCC, solar PV construction, installation services, and power generation, which perfectly complements DPS Group’s construction prowess and commitment to sustainable development.
A filing with Bursa Malaysia shows that upon completion of the SHA, DPS will hold 60 per cent, and the balance will be 40 per cent by SAM in DPSS.
With its extensive landbank of more than 1,000 acres, DPS provides a solid foundation for large-scale solar energy projects.
“The synergistic alliance between DPS and Sunview is poised to drive our financial growth and substantially impact environmental sustainability and social development,” Sow added.
In line with its commitment to environmental, social, and governance (ESG) goals, this collaboration aligns with its broader initiative to champion clean energy, foster job opportunities, and reduce our carbon footprint.
In November 2023, DPS, through its wholly-owned subsidiary DPS Energy Sdn Bhd, entered into a Joint Venture Agreement (JVA) with Mutiara Mahajuta Sdn Bhd (Mutiara Mahajuta) for a piece of land measuring 190.09 acres in Mukim of Bukit Apit II, Daerah Alor Gajah, Melaka.
This collaboration involves a pioneering project encompassing agro-tourism, crops, bio-farms, renewable energy, solar farms, and aqua-phonics.
This land, free from encumbrances and boasting an agriculture land use category, is poised to become a cornerstone of sustainable development in the region.
The JV is a significant component of the group’s overarching strategy to enhance the value of its accumulated landbanks.