DPS Resources Bhd has through its wholly-owned subsidiary DPS Energy Sdn Bhd recently entered into a Joint Venture Agreement with Mutiara Mahajuta Sdn Bhd for a piece of land measuring 190.09 acres in Mukim of Bukit Apit II, Daerah Alor Gajah, Melaka ("Land"). DPSE is principally engaged in carrying on the business of green energy and engineering works services. This collaboration involves a pioneering project encompassing agro-tourism, crops, bio-farms, renewable energy, solar farms, and aqua-phonics.

This land, free from encumbrances and boasting an agriculture land use category, is poised to become a cornerstone of sustainable development in the region. The JV is a significant component of the Group's overarching strategy to enhance the value of its accumulated landbanks. Since the pandemic, DPS Resources has strategically expanded its portfolio, amassing a total of more than 1,000 acres through various means, including joint ventures and acquisitions.

A filing with Bursa Malaysia shows that under the structure of this JV, DPS Resources Berhad shall take charge of the project management and allocating net profits at a ratio of 65% for DPSE and 35% for Mutiara Mahajuta Sdn Bhd. The latter will then redistribute its share to the individual landowners. Recently, the Madani Government announced the initiation of the Corporate Green Power Programme ("CGPP"), a significant policy change enabling Third Party Access (TPA) to the national electricity grid.

Under this program, participants can generate renewable energy and sell it to various off-takers. Tan Sri Sow Chin Chuan believes this project will significantly boost the future earnings and financial resilience of the company. Additionally, it is poised to make a substantial contribution to the national green energy market and achieve environmental, social, and governance objectives.

The project's strategic location is advantageous, offering easy access to major highways and towns. Furthermore, its excellent sunlight exposure and the availability of tapping points make it an ideal site for establishing a solar farm. DPS Resources Berhad's continued emphasis on collaborative efforts and partnerships underscores its dedication to realising a vision of sustainable development.

The company remains steadfast in its pledge to positively impact Malaysia's green energy market and uphold its Environmental, Social, and Governance (ESG) commitments.