Powerwell Holdings said the group will capitalise on M Electrical & Engineering’s expertise in panel assembly, wiring craftsmanship, inspections and electrical switchboard testing.
PETALING JAYA: Powerwell Holdings Bhd
’s wholly-owned subsidiary, Powerwell International Sdn Bhd, is set to buy a 55% stake in M Electrical & Engineering for RM8.25mil to complement its offerings.
The stake will be acquired from Chen Choong Hee.
According to Powerwell Holdings, the group will capitalise on M Electrical & Engineering’s expertise in panel assembly, wiring craftsmanship, inspections and electrical switchboard testing, all of which will complement its industry presence.
The group is also expected to benefit from an expanded clientele base, enhanced operational expertise, synergistic marketing activities and the ability to attract and retain top-tier manpower.
Powerwell International managing director Datuk Adam Yee Hoon said the growing demand for reduced costs, risks and delivery time propels the electrical industry away from the traditional practice and towards e-house technology.
“The transformation in the electrical industry is unmistakable as e-houses offer an efficient, cost-effective and swift solution, perfectly aligning with the industry’s evolving demands,” he said in a statement.
Powerwell Holdings aims to aims to revolutionalise the electrical industry by developing state-of-the-art electrical houses, which are customisable, pre-assembled and pre-tested modular power substations.
E-houses are gaining traction due to the rising demand for mobile substations in various sectors such as telecommunications projects, manufacturing industry and infrastructure under the Smart City Project.
“E-houses are also complementing power demand drivers in Malaysia including data centres, public infrastructure projects, smart cities, mobile power stations for manufacturing and mega rail projects.”
It said the acquisition is well-timed considering the rapid increase in data centre investments in Malaysia, which totalled RM76bil from 2021 until March 2023.
Powerwell believed as Malaysia is poised to become the region’s data centre hub, the development of e-houses will be pivotal in supporting the growing demand for mission-critical digital infrastructures, data management and storage.
