DPS Resources Bhd Enters Joint Venture To Develop 170-Acre Agro-Tourism And Renewable Energy Hub In Melaka

Main Market listed company DPS Resources Bhd has, through its wholly-owned subsidiary DPS Energy Sdn Bhd (DPSE), entered into a Joint Venture Agreement with Mutiara Mahajuta Sdn Bhd for the development of a 170-acre land in Mukim of Sungai Siput, Daerah Alor Gajah, State of Melaka. This significant collaboration will spearhead innovative projects in agro-tourism, crops, bio-farming, renewable energy, solar farms, and aquaponics.

DPSE specializes in the construction and installation of solar farms, solar photovoltaic systems, AI data centers, battery energy storage systems, gas turbines and power plants, and other green energy and engineering work services, led by DPS Resources Berhad Executive Director, Mr. Eugene Sow Chuan Sheng. Mutiara, on the other hand, has secured collaborative agreements with individual landowners for a comprehensive, long-term development of the land in three phases over an initial tenure of thirty years, with an option for a fifteen-year extension.

The first phase of this ambitious project will focus on developing agro-tourism attractions, cultivating crops, and establishing bio-farms and aquaponics systems. The second phase will shift focus to renewable energy, primarily through the development of a solar farm. In the third phase, Mutiara will undertake mixed development projects, including residential, commercial, and industrial components.

The project duration is set between 21 to 25 years, with DPSE holding the first right of refusal for further solar farm development or mixed-use projects. The profit-sharing structure allocates 35% of net profits to Mutiara and 65% to DPSE.

DPS Resources Berhad Executive Chairman, Tan Sri (Dr) Sow Chin Chuan, said, “Our collaboration with Mutiara Mahajuta is a strategic move to leverage our expertise in green energy and engineering services. This project aligns with our sustainable growth strategy and contributes to Malaysia’s renewable energy targets. We are committed to driving innovation in agro-tourism and renewable energy, ensuring long-term benefits for our stakeholders and the community.”

Strategically located, the land offers accessibility within 20 minutes to the Simpang Ampat Highway to Kuala Lumpur and 15 to 20 minutes to key areas, including Alor Gajah, Taman Cheng, and Malacca Town. This advantageous location, combined with the project’s green environment and excellent sunlight exposure, makes it ideal for solar energy production and further ensures the project’s long-term profitability and contribution to the Group’s financial stability.

The joint venture underscores DPS’s commitment to sustainable development and aligns with national goals for renewable energy and environmental, social, and governance (ESG) standards. The Malaysia Renewable Energy Market is projected to grow significantly, from 9.68 gigawatts in 2023 to 12.04 gigawatts by 2028, driven by increased investments and a national shift towards renewable energy.

The project will also create work and entrepreneurship opportunities, contribute to national food security, and reduce the Group’s carbon footprint, in line with ESG perspectives.