KUALA LUMPUR (Jan 30): DPS Resources Bhd, which is involved in the construction, housing development and home furniture business, has partnered with Sunview Group Bhd to develop green energy projects.

DPS and its wholly-owned unit, DPS Sunview Sdn Bhd (DPSS), on Tuesday inked an agreement with Sunview’s wholly-owned subsidiary, Sunview Asset Management Sdn Bhd (SAM).

The collaboration will result in SAM taking up a 40% stake in DPSS, while DPS will be left with a 60% stake.

DPS said the move marks its entry into the green energy space, leveraging its track record in civil and structural work, including infrastructure and earth work projects, and Sunview's expertise in the engineering, procurement, construction and commissioning of solar photovoltaic systems.

“With a landbank of more than 1,000 acres, DPS also provides a solid foundation for large-scale solar energy projects. This collaboration represents a strategic alliance opportunity for DPS and its subsidiary companies to increase its sustainable revenue,” said the group in a stock exchange filing.

DPS executive chairman Tan Sri Dr Sow Chin Chuan in a statement said that the alliance between DPS and Sunview is poised to drive the group’s financial growth and substantially impact environmental sustainability and social development.

Separately, Sunview executive director and chief executive officer HP Ong said: “With the increased adoption of solar energy in the region, it is a fantastic opportunity and right timing for the group to form a synergy with a reputable local company.

“By leveraging each other’s expertise and accessibilities, we look forward to a fruitful outcome in the future. We are optimistic this collaboration will further fortify our position in the industry,” he said.

DPS shares closed up half a sen or 1.05% to 48 sen on Tuesday, giving the group a market capitalisation of RM100.49 million. Sunview finished unchanged at 68.5 sen, valuing the group at RM342.17 million.