KUALA LUMPUR, MALAYSIA / ACCESS Newswire / January 27, 2025 / KUALA LUMPUR - ES Sunlogy Berhad ("ES Sunlogy" or the "Company"), an established provider of mechanical and electrical ("M&E") engineering services and renewable energy solutions, is pleased to announce the launch of its prospectus for the Initial Public Offering ("IPO") in conjunction with its listing on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities"). This marks a significant milestone in the Company's corporate journey, reinforcing its commitment to advancing Malaysia's infrastructure and energy transition.
From Left to Right:
1. Mr. Loh Kwang Yean?????, Independent Non-Executive Chairman, ES Sunlogy Berhad
2. Mr. Chu Kerd Yee ?????, Executive Director, ES Sunlogy Berhad
3. Mr. Khor Chuan Meng ?????, Managing Director, ES Sunlogy Berhad
4. Datuk Bill Tan ?????, Managing Director, M & A Securities Sdn Bhd
5. Datuk Keh Chuan Seng ?????, Promoter and Substantial Shareholder, ES Sunlogy Berhad
6. Ms. Rachel Ho Seow Leng ????, Deputy Head of Corporate Finance, M & A Securities Sdn Bhd
7. Ms. Jean Lim ?????,Associate Director of Corporate Finance, M & A Securities Sdn Bhd
The IPO is set to raise RM42.0 million through the issuance of 140.0 million new ordinary shares at a retail price of RM0.30 per share. The proceeds from the IPO will be allocated as follows:
RM14.1 million for the development and construction of the Selarong Large-Scale Solar Photovoltaic ("LSSPV") Plant, reinforcing the Company's focus on renewable energy.
RM14.0 million for the repayment of borrowings to strengthen its financial position.
RM9.2 million for general working capital to support its day-to-day operations.
RM0.7 million for the purchase of an enterprise resource planning ("ERP") system to enhance the Group's overall operational efficiency.
RM4.0 million for the IPO expenses.
Managing Director of ES Sunlogy Berhad, Mr. Khor Chuan Meng, stated, "The launch of our prospectus is a proud moment for ES Sunlogy, marking a new chapter in our growth and corporate journey. This IPO will enable us to further accelerate our efforts in delivering high-quality M&E engineering solutions while advancing Malaysia's renewable energy agenda. The funds to be raised from our IPO will support our long-term strategic initiatives, including expanding our capabilities in the renewable energy sector, strengthening our financial position, enhancing operational efficiency, improving our visibility and contributing to the nation's sustainable development. This listing reflects our long-term commitment to innovation, sustainability, and delivering long-term value to our stakeholders."
ES Sunlogy Berhad has demonstrated strong financial performance, with total revenue increasing by RM85.91 million, or 169.0%, from RM50.82 million in the financial year ended ("FYE") 2022 to RM136.73 million in FYE 2023. This growth continued in FYE 2024, with revenue increasing further by RM54.36 million, or 39.8%, to RM191.09 million. This stellar performance underscores the Company's strategic focus on expanding M&E services across high-demand sectors, including solar installations and industrial energy solutions, with key M&E projects in Selangor, Johor, Perak, Kedah, Penang, Negeri Sembilan and Perlis.
Looking forward, ES Sunlogy remains committed to its role as a leader in Malaysia's renewable energy transition. By delivering solar solutions for residential and commercial properties, providing customised energy systems for industrial clients, and supplying sustainable energy solutions for industrial sectors, the Company supports energy savings and sustainability. These initiatives, combined with its participation in large-scale programmes such as LSS5, align with its vision to grow its market share, expand regionally, and contribute meaningfully to Malaysia's sustainability and green energy goals.
The launch was graced by the presence of ES Sunlogy Berhad's three key promoters, namely Mr. Khor Chuan Meng, Managing Director; Mr. Chu Kerd Yee, Executive Director; and Datuk Keh Chuan Seng, Promoter and Substantial Shareholder. Their participation highlighted the significant role of their leadership and vision in the company's journey towards its listing on the ACE Market.
M & A Securities Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter, and Placement Agent for this IPO.
ABOUT ES SUNLOGY BERHAD
ES Sunlogy Berhad ("ES Sunlogy" or the "Company") is an established provider of mechanical and electrical ("M&E") engineering services, specialising in electrical engineering services for electricity supply distribution systems, mechanical engineering services for building services, as well as generation and sales of renewable energy. The Company and its subsidiaries (collectively, the "Group") has an extensive portfolio of projects across Malaysia, including industrial, commercial and residential properties, and solar facilities. ES Sunlogy has established itself as a trusted name in delivering innovative, efficient, and high-quality engineering solutions. The Group is committed to contributing to Malaysia's sustainable energy landscape with its focus on solar energy projects and renewable energy solutions.
For more information, visit www.essunlogy.com.
Issued By: Swan Consultancy Sdn. Bhd. on behalf of ES Sunlogy Berhad
For more information, please contact:
Jazmin Wan
Email: j.wan@swanconsultancy.biz
Mandy Tan
Email: m.tan@swanconsultancy.biz
SOURCE: ES Sunlogy Berhad
View the original press release on ACCESS Newswire
