(From left) UOB Malaysia executive director Lau Hing Sung, UOB Malaysia managing director Beh Wee Khee, Sunview Group CEO Ong Hang Ping and Sunview Group chief financial officer Tracey Ooi.

KUALA LUMPUR (Sept 18): Sunview Group Bhd has entered into an agreement with UOB Malaysia to provide installation and management services of solar power systems for local businesses and consumers.

Through its wholly-owned unit Fabulous Sunview Sdn Bhd, Sunview will provide services in the development, planning, procurement, as well as construction and maintenance of solar photovoltaic (PV) systems for commercial, industrial, residential and large scale solar (LSS) projects, the group said in a statement.

UOB Malaysia, meanwhile, will provide Sunview with financing to complete the projects, as well as supply chain support, including access to the bank's U-Solar programme’s ecosystem of equipment suppliers.

In addition, Sunview’s customers will also be able to obtain end-user financing options when acquiring Sunview’s products or services, said the renewable energy player with expertise in the engineering, procurement, construction and commissioning (EPCC) activities.

Sunview executive director and chief executive officer HP Ong said the group is optimistic that the partnership will strategically position the group to seize upcoming opportunities in the solar industry given the recent surge in activities in the solar industry due to newly introduced schemes and policies.

“We are delighted to join UOB Malaysia’s U-Solar programme as its 10th EPCC partner. This strategic partnership serves as a testament to our established track record and promising growth prospect. We are confident that it will enhance our financial capacity for our operations activities and market expansions. Moreover, it benefits our customers by providing end-user financing options,” he added.

UOB Malaysia managing director and country head of commercial banking Beh Wee Khee said the bank expanded U-Solar to address cash flow issues and working capital gaps for developers and contractors who typically have longer projects receivable terms and may face short payment terms from equipment suppliers.

“Sunview will now be able to finance the purchase of equipment and work on multiple solar projects simultaneously and speed up the rate of solar adoption for the country to reach its net zero ambitions,” Beh said.

Shares of Sunview finished up three sen or 3.87% to 80.5 sen on Monday, giving the group a market capitalisation of RM374.33 million. The counter has risen over 49% since the beginning of this year.