KUALA LUMPUR: ES Sunlogy Bhd has secured shareholders' approval for a recurrent related-party transactions mandate, paving the way for closer collaboration with its strategic shareholder, Kerjaya Prospek Group Bhd
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In a statement, the mechanical and electrical (M&E) engineering and renewable energy company said the mandate would facilitate routine business transactions with related parties on normal commercial terms.
Kerjaya Prospek emerged as a strategic shareholder in ES Sunlogy after acquiring a 31% stake for RM64.31mil between July and August this year.
The two companies, which have worked together since 2018, are looking to jointly pursue mixed-use, industrial and infrastructure projects.
ES Sunlogy managing director Khor Chuan Meng said the group would focus on strengthening its core M&E business while expanding into high-voltage power transmission and renewable energy.
"We aim to capture opportunities across industrial, data centre and infrastructure projects, while growing recurring income from our solar assets," he said.
The group recently secured a RM15.63mil electrical works contract for a serviced apartment project in Johor Bahru, following a RM107.5mil M&E subcontract awarded earlier this year for another project in Johor.
ES Sunlogy is also expanding into high-voltage power transmission after upgrading its licence to 275kV last year.
It has secured a Tenaga Nasional Bhd substation project in Lembah Beringin, Selangor, and is targeting more grid-related contracts over the next two to three years.
In renewable energy, the group operates two solar farms with a combined capacity of 50.75MW and plans to bid for the upcoming Large Scale Solar 6 programme with a solar-plus-battery storage proposal.
