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PETALING JAYA: Sunview Group Bhd, which aims to get listed on the ACE Market in the final quarter of the year, is in a strong position to secure more solar photovoltaic (PV) projects to boost its bottom line following the upsurge in the local demand for solar PV businesses.
Chief executive officer Ong Hang Ping told StarBiz that one of the group’s competitive strength lies in its expertise as an end-to-end solar PV system construction player, which would provide an upper hand to clinch more projects.
He noted that “given our expertise, we are able to carry out the whole construction process from start to end. These include engineering design, planning and procurement, construction and installation up to testing and commissioning of solar PV facilities”.
In addition, the supply of solar power generated from the group’s assets, would provide a recurring revenue stream.
“We are able to leverage on our technical knowledge and expertise in the engineering, procurement, construction and commissioning (EPCC) of solar PV facilities to expand our offerings into asset ownership of solar PV facilities.
“These facilities will help generate a recurring income stream for the group,” he added.
Through its subsidiaries, Sunview Group owned 16 solar PV facilities with a collective installed capacity of 7.19 megawatt peak (MWp) as at Nov 30, 2021, Ong noted.
Besides being backed by an experienced technical and management team, he said Sunview also worked with solar PV investors to fund the installation of solar PV facilities and facilitate the growth of the EPCC of the solar PV businesses.
The ACE Market-bound Sunview Group also plans to launch its prospectus in the current quarter. As at Dec 22, 2021, it had 47 ongoing projects with a total contract value worth RM614.1mil.
Out of this, 94.5% was made up of large scale solar (LSS) projects, while the remaining 5.5% was from net energy metering or NEM, and net offset virtual aggregation and self-consumption or SELCO programmes.
Ong said: “These projects are located across Peninsular Malaysia. Our ongoing EPCC projects for rooftop solar PV facilities are in Johor, Kedah, Kuala Lumpur, Negri Sembilan, Perak and Selangor.
“While our ongoing EPCC for LSS projects are in Labuan, Pahang, Penang, Perak and Sabah. Our unbilled order book as at Dec 22, 2021 stood at RM592.5mil, which will sustain the group’s revenue until financial year 2024,” he added.
Ong said the group currently had no plans to venture overseas as Malaysia remains its key target market. This is given that there is still huge potential for the local market to grow.