EGP Energy subsidiary, Malaysia-listed UUE Holdings unit form JV with initial paid-up capital of RM1 million
This is EGP Energy’s first overseas market entry since its listing on Jul 29
EGP Infrastructure Investments (EGPII), a wholly-owned subsidiary of EGP Energy, has entered into a joint venture agreement with a wholly-owned subsidiary of Malaysia-based UUE Holdings. The joint venture, proposed to be named EGP-UUE Power System Engineering, will be incorporated in Malaysia with an initial paid-up capital of RM1 million (US$245,314).
This marks EGP Energy's first overseas market entry since its listing on July 29, as part of its regional expansion strategy. Kum Fatt Engineering (KFE), a Grade G7 contractor registered with Malaysia's Construction Industry Development Board, is a unit of UUE Holdings and will hold a 40 per cent stake in the joint venture. EGPII will hold the remaining 60 per cent.
The joint venture will provide turnkey power grid infrastructure solutions, including construction, development, and delivery of power grid infrastructure, such as the supply and installation of extra-high-voltage (EHV) equipment in Malaysia, up to 500 kilo volts. This move allows EGP Energy to participate in Malaysia's growing power grid investment cycle and pursue opportunities in EHV and HV power infrastructure projects in the country.
EGP Energy's CEO, Frankie Fan, highlighted the company's expertise in EHV and HV systems integration and its goal of establishing a long-term platform in Malaysia for future overseas growth plans.
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