Kerjaya Prospek raises ES Sunlogy stake to 28.27pct, now largest shareholder

KUALA LUMPUR: Kerjaya Prospek Group, a construction firm, has increased its stake in ES Sunlogy Bhd to 28.27 percent, making it the largest shareholder in the company. The acquisition, funded internally, amounted to RM40.18 million and included the purchase of 147.70 million shares. This brings Kerjaya Prospek's total stake in ES Sunlogy to 217.70 million shares.

The investment follows the group's initial entry into ES Sunlogy on July 16, where it acquired 70 million new shares, representing a 9.09 percent stake. Through its subsidiary, Acumen Marketing Sdn Bhd, Kerjaya Prospek purchased these shares at RM18.76 million, or a 28.42 percent discount to ES Sunlogy's closing market price on August 13.

CEO and Executive Director Tee Eng Tiong stated that the increased stake reflects the company's strong confidence in ES Sunlogy's growth prospects, particularly in M&E engineering and renewable energy. He emphasized that deepening their partnership allows Kerjaya Prospek to play a more active role in the company's long-term growth and that collaboration could create new opportunities by combining their respective strengths.