KUALA LUMPUR (Feb 20): ES Sunlogy Bhd (KL:SUNLOGY) is unable to declare a dividend policy, as the group is presently in expansion mode, according to its top official.
“We need to thoroughly assess our business landscape, and conquer the competition before we can consider implementing a dividend policy,” said Fong Weng Keong, the chief financial officer of ES Sunlogy, indicating the company’s focus on strategic expansion and market positioning.
ES Sunlogy is preparing to participate in the upcoming large-scale solar (LSS) 5 and LSS5+, which are set to be key projects within Malaysia’s renewable energy (RE) sector, said Sam Teo Chee Teong, the company’s chief executive officer.
Meanwhile, the company has no immediate plans to venture overseas.
Despite the global trade uncertainties and tariffs, particularly under US President Donald Trump’s administration, ES Sunlogy has reported no significant impact on its operations so far.
The company’s decision to join LSS5+ aligns with its strategy to generate recurring revenue, strengthen its foothold in the RE sector, and support the nation's RE goals.
The group currently operates a 20.76MW solar farm, and holds a 40% stake in another 30MW solar farm project presently under construction.
Besides this, the company is currently developing the Selarong LSS photovoltaic (PV) plant, which has the potential to generate up to 29.99MW of electricity.
The group is targeting December 2025 for the commencement of operations at the Selarong plant.
ES Sunlogy also currently operates the Junjong LSSPV plant, located in Kulim, Kedah, that can generate 20.76MW of electricity. The plant has a commencement period of 25 years from July 2023 to July 2048.
Furthermore, the company is poised to explore opportunities within the Corporate Green Power Programme (CGPP), aimed at providing RE to other plant owners, Sam added.
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