KUALA LUMPUR, February 2 – ES Sunlogy Berhad has officially launched its prospectus for an Initial Public Offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad, marking a significant milestone in its corporate growth. The IPO aims to raise RM42.0 million through the issuance of 140.0 million new ordinary shares at RM0.30 per share, with funds allocated to renewable energy projects, debt repayment, working capital, operational enhancements, and IPO expenses.
Managing Director Khor Chuan Meng emphasized that the listing will accelerate the company’s expansion in mechanical and electrical (M&E) engineering and renewable energy, reinforcing Malaysia’s transition toward sustainable energy solutions. With a robust financial performance, ES Sunlogy’s revenue surged by 169.0% from RM50.82 million in 2022 to RM191.09 million in 2024, driven by high-demand M&E projects across multiple states.
The company is poised to enhance its renewable energy portfolio, including large-scale solar photovoltaic initiatives such as LSS5, further solidifying its market presence. The IPO launch was officiated by the company’s key promoters, including Khor Chuan Meng, Chu Kerd Yee, and Datuk Keh Chuan Seng, underscoring their leadership in the company’s journey. M & A Securities Sdn. Bhd. serves as the IPO’s Principal Adviser, Sponsor, Underwriter, and Placement Agent.
