KUALA LUMPUR: Main market listed company DPS Resources Bhd’s (DRB) wholly-owned subsidiary, DPS Sunview Sdn Bhd (DSSB), recently signed a shareholders agreement with Sunview Asset Management Sdn Bhd (SAM).
This collaboration entails the subscription of 199,900 ordinary shares in DSSB at RM1.00 each.
Further, this move marks DRB’s entry into the green energy space, leveraging its track record in civil and structural work including infrastructure and earthwork and SAM’s expertise in solar photovoltaic (PV) systems, engineering, procurement, construction and commissioning (EPCC), mechanical and electrical (M&E) engineering. DRB executive chairman Tan Sri (Dr) Sow Chin Chuan said this partnership aligns strengths and expertise of the company. “With our wholly-owned subsidiary Shantawood’s Construction Industry Development Board (CIDB) G7 qualification and our proven track record in construction and civil engineering, coupled with SAM’s exceptional capabilities in solar PV systems, we believe this collaboration is strategic and highly synergistic,” he said in a recent statement.
DRB is a key player in the construction, housing development, manufacturing and trading of home furniture. SAM is a wholly-owned subsidiary of ACE market-listed end-to-end solar photovoltaic system construction player Sunview Group Bhd (SGB). SGB is a leading expert in EPCC, solar PV construction, installation services, and power generation, which perfectly complements DRB’s construction prowess and commitment to sustainable development. A recent filing with Bursa Malaysia shows that upon completion of the agreement, DRB will hold 60 per cent and the balance will be by SAM in DSSB. With its extensive landbank of more than 1,000 acres, DRB provides a solid foundation for large-scale solar energy projects.
“The synergistic alliance between DRB and SGB is poised to drive our financial growth and substantially impact environmental sustainability and social development,” Sow said. With a steadfast commitment to environmental, social, and governance (ESG) goals, this collaboration aligns with DRB’s broader initiative to champion clean energy, foster job opportunities, and reduce carbon footprint. In November 2023, DRB, through its wholly-owned subsidiary DPS Energy Sdn Bhd, signed a joint venture agreement (JVA) with Mutiara Mahajuta Sdn Bhd (MMSB) 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 joint venture is a significant component of the DRB’s overarching strategy to enhance the value of its accumulated landbanks.
