Singapore-based building construction and property development group Keong Hong Holdings Limited has signed a Memorandum of Understanding (MOU) with Malaysia-based solar and renewable energy developer Helios Photovoltaic Sdn Bhd (HELIOS) to explore potential business opportunities in renewable energy, solar power, battery energy storage systems (BESS), data centres, and related infrastructure projects.
The agreement establishes a preliminary framework for both companies to evaluate potential collaborations across multiple markets. The proposed partnership aligns with Keong Hong’s broader strategy to expand beyond its existing construction and property development activities into renewable energy and infrastructure, while leveraging its established expertise in engineering, construction, and project management.
Under the MOU, the two companies will assess opportunities to develop and participate in suitable projects across Malaysia, Cambodia, Kazakhstan, and the European Union. Their areas of interest include solar power generation, battery energy storage, data centre development, and other infrastructure-related initiatives. The collaboration is intended to bring together the companies’ respective capabilities to identify projects that meet their commercial objectives and long-term growth plans.
HELIOS brings more than 15 years of experience in solar and renewable energy development. Established in Malaysia in 2010, the company has developed expertise in the renewable energy sector, positioning it as a potential partner for projects involving solar generation and associated infrastructure.
Keong Hong, meanwhile, brings approximately four decades of experience in construction and project execution. Under the proposed arrangement, the company may participate in selected projects in different capacities, including as a collaboration partner, an Engineering, Procurement, and Construction (EPC) contractor, or an Engineering, Procurement, Construction, and Commissioning (EPCC) contractor.
These potential roles could allow Keong Hong to apply its construction and project management capabilities to renewable energy and infrastructure developments while exploring opportunities in emerging and established markets. The collaboration could also provide a framework for both parties to assess projects that combine renewable energy generation, energy storage, and infrastructure requirements.
Commenting on the agreement, Keong Hong Chief Executive Officer Owen Xu said that renewable energy and data centres represent a natural extension of the group’s existing capabilities. He also highlighted the importance of maintaining a disciplined approach to project selection, capital deployment, and risk management to support sustainable long-term value for shareholders.
However, the MOU is non-binding and does not legally commit either company to undertake any specific project. Any future participation by Keong Hong will depend on further assessments, mutual agreement, and the execution of definitive agreements.
The companies will evaluate factors including project economics, funding arrangements, and overall risks before making investment or participation decisions. The agreement therefore represents an initial step towards exploring business opportunities rather than a confirmed project investment or development commitment.
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