KUALA LUMPUR, MALAYSIA / ACCESS Newswire / February 20, 2025 / ES Sunlogy Berhad ("ES Sunlogy" or the "Company"), an established provider of mechanical and electrical ("M&E") engineering services and renewable energy solutions, officially made its debut on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") today. The Company opened at RM0.305 per share, reflecting a 1.67% premium over its Initial Public Offering ("IPO") price of RM0.30 per share.
Caption from L-R: Mr Sam Teo Chee Teong, Chief Executive Officer, ES Sunlogy Berhad; Dato' Margaret Ting Thien Hung, Independent Non-Executive Director, ES Sunlogy Berhad; Ms. Lim Kwee Yong, Independent Non-Executive Director, ES Sunlogy Berhad; Mr. Loh Kwang Yean, Independent Non-Executive Chairman, ES Sunlogy Berhad; Mr. Chu Kerd Yee, Executive Director, ES Sunlogy Berhad; Mr. Khor Chuan Meng, Managing Director, ES Sunlogy Berhad; Datuk Keh Chuan Seng, Promoter and Substantial Shareholder, ES Sunlogy Berhad; Datuk Bill Tan, Managing Director, M & A Securities Sdn Bhd; Mr. Gary Ting Hua Tai, Head of Corporate Finance, M & A Securities Sdn Bhd; Ms. Rachel Ho Seow Leng, Deputy Head of Corporate Finance, M & A Securities Sdn Bhd
ES Sunlogy is listed under the stock name "SUNLOGY" and stock code "0345".
Since securing its first electrical engineering project in 2010, ES Sunlogy has expanded its expertise to become a key player in mechanical and electrical ("M&E") engineering, delivering solutions for medium voltage ("MV"), high-voltage ("HV"), low voltage ("LV"), and extra low voltage ("ELV") systems, as well as large-scale renewable energy projects. The Company has built an impressive track record, including a key RM90.2 million semiconductor manufacturing facility in Kulim, Kedah, and the development of large-scale solar photovoltaic ("LSSPV") plants such as the Selarong LSSPV projects.
Through its IPO, ES Sunlogy successfully raised RM42.0 million, which will be allocated as follows:
RM14.1 million for the development and construction of the Selarong 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 the 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, shared his excitement about the listing, stating: "This listing marks an exciting new chapter for ES Sunlogy. We are grateful for the strong support from investors, which reflects confidence in our business direction and growth potential. With the funds raised, we are well-positioned to expand our engineering capabilities, scale our renewable energy projects, and contribute to Malaysia's clean energy goals. Moving forward, we remain committed to delivering innovative solutions that create long-term value for our stakeholders."
Looking forward, ES Sunlogy remains committed to its role as a leader in Malaysia'sM&E engineering service. By delivering M&E engineering for solar plants serving 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 listing on Bursa Securities provides ES Sunlogy with a strong foundation to accelerate its expansion, further strengthening its role as a key player in M&E engineering and renewable energy solutions.
###
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
