en.Wedoany.com Reported - PUC Holdings Bhd (KL:PUC) plans to acquire a battery energy storage system company, marking the digital services group's entry into the battery energy storage sector.
The group reported to Bursa Malaysia that it will acquire the entire equity of H BESS Sdn Bhd for RM6.75 million.
Additionally, the group proposes a private placement of up to 304.8 million new shares, representing 10% of its issued share capital, to an independent third party to be determined.
Based on a reference price of 3.44 sen per share, PUC expects to raise approximately RM10.49 million. Of this, RM6.75 million will be used for the acquisition, RM3.02 million as working capital for H BESS, and the remaining RM720,000 to cover corporate activity expenses.
PUC stated that the private placement price may be at a discount of up to 10% to the five-day volume-weighted average market price.
The group noted that acquiring H BESS will provide a new revenue stream for its existing digital platform business, including e-commerce, electronic money, points redemption, and digital payment services.
H BESS was established in March 2025 and is primarily engaged in the assembly and sale of battery energy storage systems.
The company has not yet released audited financial statements and currently has no employees other than its directors. PUC plans to build a team of approximately 15 to 20 people after the acquisition is completed.
According to PUC, H BESS received a non-binding letter of intent last Thursday (the 11th) from a five-star hotel in Kuala Lumpur to supply and install a 4,626 kWh battery energy storage system, which will be H BESS's first project.
Furthermore, in November 2025, H BESS signed a preliminary letter of intent with China's Hithium Tech HK Ltd to establish a battery energy storage system assembly line in Malaysia with an annual capacity of 2 GWh.
The two parties plan to sign a final agreement within three months, upon which H BESS will obtain the exclusive right to assemble and deliver Hithium battery packs and energy storage system containers in Malaysia.
PUC noted that the current owners of H BESS, Yong Tzen Wae and Datuk Chua Sai Men, have provided a profit guarantee of a cumulative net profit of RM3.5 million over three fiscal years ending December 2028, with RM1.5 million for FY2027 and RM2 million for FY2028, while no profit forecast is provided for FY2026.
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