Founder Group Secures Additional Contracts with Solar Installation Companies in Malaysia of US$ 1.5 Million
KUALA LUMPUR, Malaysia, June 11, 2025 (GLOBE NEWSWIRE) -- Founder Group Limited (NASDAQ:FGL) ("Founder Group" or the "Company"), a leading engineering, procurement, construction, and commissioning (EPCC) solutions provider for solar photovoltaic (PV) systems in Malaysia, is pleased to announce that it has secured additional contracts with prominent solar installation companies in Malaysia.
The Company secured a contract totaling RM3.4 million (approximately US$806,193) engineering, procurement, construction, and commissioning contract for the development of a 29.99 megawatt (MWac) large-scale solar (LSS) photovoltaic plant in Bukit Badong, Selangor. The Founder Group will be responsible for the mechanical and wiring of the facility.
Further, the Company secured an additional contract valued at RM2.8 million (approximately US$662,452) from the same business that Founder Group contracted with on a previous solar PV project deal which was announced earlier in the year. The business that the Company contracted with has a solid track record in the industry focusing in investment of renewable energy assets throughout Malaysia.
This partnership with two prominent industry players will be a construction contract that is expected to be completed this year. Founder Group has secured contracts with this solar installation company for similar types of facilities and expects additional contracts from them over the next few years.
For one of the projects, Founder Group will serve as a contractor, responsible for the design, engineering, procurement, construction and commissioning of a roof-top solar PV generating facility with nominal capacity.
"We are excited about the continued momentum in securing additional contracts which have been a combination of brand-new partnerships and additional contract wins from our current collaborative business customers. Our latest contracts will be instrumental in enhancing Founder Group's revenue growth, operational capabilities, and ability to expand our footprint in the Malaysian market. Additionally, we look forward to building solid relationships with premiere companies in the industry that are growing in the region and share the same vision of working together to support the country's renewable energy goals and focused on promoting a greener, more sustainable future," said Lee Seng Chi, Chief Executive Officer of Founder Group Limited.
About Founder Group Limited
Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities in Malaysia. The company's primary focus is on two key segments: large-scale solar projects and commercial and industrial (C&I) solar projects. The company's mission is to provide customers with innovative solar installation services, promote eco-friendly resources and achieve carbon-neutrality.
For more information on the Company, please visit https://www.founderenergy.com.my/.
Safe Harbor Statement
This press release contains forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties and other factors, including those listed under "Risk Factors" in the Company's filings with the U.S. Securities and Exchange Commission, may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.
CONTACT INFORMATION:
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