Steel Hawk Bhd will acquire a 55% stake in engineering services firm Sparksfly Sdn Bhd for RM1.1 million cash, expanding its capabilities in offshore, subsea and fabrication works.
The acquisition will be undertaken through wholly owned subsidiary Steel Hawk Manufacturing Sdn Bhd’s subscription of 611,112 new Sparksfly shares. Upon completion, Sparksfly will become an indirect 55%-owned subsidiary of Steel Hawk.
The acquisition will be funded through internally generated funds and is expected to contribute positively to Steel Hawk’s future earnings and long-term prospects.
Steel Hawk executive director Datuk Sharman K Michael said the deal would broaden the group’s customer base, reduce concentration risk and strengthen its presence in southern Malaysia.
Established in 2018 and based in Senai, Johor, Sparksfly provides engineering, fabrication, and oil and gas support services across the offshore, subsea and pipeline segments.
For the financial year ended Dec 31, 2025, Sparksfly recorded a profit after tax of RM283,138 and net assets of about RM1.48 million.
