PETALING JAYA: ES Sunlogy Bhd made its debut on the ACE Market of Bursa Malaysia Securities today, opening at 30.5 sen per share, reflecting a 1.67% premium over the initial public offering (IPO) price of 30 sen per share.
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, high-voltage, low voltage, and extra low voltage 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 project.
ES Sunlogy raised RM42 million from the IPO, of which RM14.1 million will be allocated for the development and construction of the Selarong LSSPV plant, reinforcing the company’s focus on renewable energy. In addition, RM14 million will be used to repay borrowings to strengthen its financial position, RM9.2 million for general working capital to support its day-to-day operations, RM700,000 for the purchase of an enterprise resource planning system to enhance the group’s overall operational efficiency and RM4 million for IPO expenses.
Managing director Khor Chuan Meng said: “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.”
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.
