KUALA LUMPUR (Oct 21): ES Sunlogy Bhd (KL:SUNLOGY) has secured shareholders’ approval for routine collaborations with its largest shareholder Kerjaya Prospek Group Bhd (KL:KERJAYA).
Twenty-five shareholders holding 241.92 million shares voted for the recurrent related-party transactions (RRPT) mandate, while six shareholders holding 9,800 shares voted against, at an extraordinary general meeting on Wednesday.
In a statement, the mechanical and electrical (M&E) engineering and renewable energy group said the mandate would streamline routine transactions with related parties on normal commercial terms, following Kerjaya Prospek’s emergence as a shareholder with a 31% stake earlier this year.
Kerjaya Prospek invested approximately RM64.31 million to build its stake in ES Sunlogy between July and August 2026.
ES Sunlogy managing director Khor Chuan Meng said the group’s growth strategy centres on strengthening its core M&E engineering business while expanding capabilities in high-voltage power transmission and renewable energy.
ES Sunlogy aims to tap opportunities in industrial, data centre and infrastructure projects, while growing recurring income from its solar assets.
“The group will continue to pursue quality project opportunities, strengthen execution capabilities and deliver sustainable value to its stakeholders across both the M&E engineering and renewable energy segments,” Khor added.
ES Sunlogy and Kerjaya Prospek have worked together since 2018, with ES Sunlogy undertaking M&E works for Kerjaya Prospek’s projects. The two groups are now looking to jointly pursue opportunities in mixed-use developments, industrial projects and infrastructure.
ES Sunlogy has also been building up its order book.
In September, its Savelite Engineering Sdn Bhd unit secured a RM15.63 million contract for electrical works at a 1,078-unit serviced apartment project in Johor Bahru.
Earlier this year, the group won a RM107.5 million M&E subcontract from China State Construction Engineering (M) Sdn Bhd for a building in Johor.
Shares of ES Sunlogy closed one sen or 2.47% higher at 41.5 sen on Wednesday, giving the group a market capitalisation of RM315.65 million. Kerjaya Prospek shares ended unchanged at RM3.25, valuing the group at RM4.12 billion.