Founder Group Ltd Stock Price, News & Analysis

Founder Group Limited (NASDAQ: FGL) has signed a memorandum of understanding (MOU) with GCL Systems Integration Technology Co. Ltd. to collaborate on renewable energy projects across Malaysia and ASEAN countries, with potential projects valued up to USD $220 million. GCL, listed on the Shenzhen Stock Exchange, is a leading smart PV and storage system integrator with expertise in high-efficiency cells, PV modules, and energy storage systems. The partnership involves information exchange, technical expertise sharing, and joint project development. Both companies will utilize internal resources for sourcing projects, analyzing tenders, and developing proposals. FGL's CEO Lee Seng Chi emphasized that partnering with GCL will enhance their capabilities in supporting regional renewable energy goals while potentially driving significant revenue growth and shareholder value.

Founder Group Limited (NASDAQ: FGL) has secured new contracts worth approximately US$1.5 million with solar installation companies in Malaysia. The first contract, valued at RM3.4 million (US$806,193), involves engineering, procurement, construction, and commissioning for a 29.99 MWac large-scale solar plant in Bukit Badong, Selangor. The second contract, worth RM2.8 million (US$662,452), was awarded by a previous client. Both projects are expected to be completed in 2025. The Company will handle mechanical and wiring work for the first facility and will serve as a contractor for the design, engineering, procurement, construction, and commissioning of a rooftop solar PV facility for the second project. CEO Lee Seng Chi emphasized these contracts' importance for revenue growth and market expansion.

Founder Group (NASDAQ: FGL) has secured a RM11.6 million (US$2.6 million) contract in Malaysia to build a roof-top solar PV generating facility. The Company will partner with a prominent Malaysian solar installation company, serving as contractor responsible for design, engineering, procurement, supply, delivery, construction, and commissioning.

The construction contract has an expected 2-year completion timeline, followed by an Operations and Maintenance agreement spanning 15-21 years. The project is anticipated to yield double-digit profit margins. This continues FGL's existing relationship with the partner company, with expectations for additional future contracts.

The contract aligns with Malaysia's ambitious renewable energy goals, as the government aims to increase renewable capacity to 40% (23GW) by 2035, up from 27% (12GW). Solar is projected to account for over 80% of the 11GW growth. The total EPCC contract market value has increased from RM7.4b to RM12.4b, indicating strong sector activity through end-2027.

Founder Group (NASDAQ: FGL) has secured a Letter of Award worth US$4.5 million (RM20 million) for the construction of a floating solar farm in Kuala Langat, Selangor, Malaysia. The project spans 24 acres and will generate 9.99MWac/15.033625MWp of solar power using floating photovoltaic (FPV) technology.

As a sub-contractor, Founder Group will provide labor, tools, materials, and equipment for General Conditions Preliminaries & Consultation. The floating solar farm, featuring panels mounted on floating platforms, is scheduled for completion by June 30, 2025. The project aims to reduce land usage while maximizing energy generation, contributing to land conservation and natural habitat preservation.

Founder Group (NASDAQ: FGL) has announced a strategic partnership with VC AI to develop AI-powered drones for solar farm inspections. The drones will feature VC.AI's proprietary generative AI software and deep learning algorithms, enabling autonomous identification of anomalies and defects in solar panels without human intervention.

The initiative targets the US$180 billion AI market and aims to enhance FGL's solar operations and maintenance services. The global drone-based solar inspection market is projected to reach US$3.8 billion by 2032 with a 16.5% CAGR, while the solar O&M market is expected to grow to US$16.4 billion by 2034 with a 10.1% CAGR.

Founder Group (NASDAQ: FGL) has secured a conditional Letter of Award worth approximately US$68 million for developing a 100-megawatt solar farm in Tanjung Malim, Malaysia. The 900-acre project will power an AI data center in Enstek City, with Founder Group serving as the EPC partner alongside Hexatoff Group.

The project aligns with Malaysia's National Energy Transition Roadmap and reflects the country's growing solar EPCC services industry, projected to reach US$350 million by 2026 with a CAGR of 23.5%. This development supports Malaysia's position as a leading hub for AI and digital infrastructure in Southeast Asia.

Founder Group (NASDAQ: FGL) announces plans to acquire an 80% stake in VES 1 Joint Stock Company (VES1), a Vietnamese renewable energy company specializing in solar projects. VES1's current portfolio includes 5.6MWp solar rooftop projects, with potential expansion rights for 50MWp/60MWh in 2025 and 58MWp/50MWh in 2026. The deal grants FGL exclusive rights to VES1's future rooftop solar and energy storage projects in Vietnam for three years. Vietnam's solar energy market is projected to reach US$12.4 billion by 2030, with a 16% CAGR from 2023-2030.

Founder Group (NASDAQ: FGL) has secured multiple Letters of Award (LOAs) for large-scale solar projects with a combined contract value of US$5.5 million. The company will provide full EPCC services, including DC and AC electrical systems, I&C systems, and civil works for both Corporate Green Power Programme projects and a utility-scale solar initiative.

Malaysia's solar EPCC services industry is projected to reach US$350 million by 2026, growing at a CAGR of 23.5%. The country aims to achieve 20% renewable energy mix by 2025, supported by initiatives like the Green Technology Financing Scheme and Solar for Rakyat Incentive Scheme (SolaRIS).

Founder Group (FGL) has secured a new USD$3.8 million contract through its subsidiary, Founder Energy Sdn Bhd, to develop a solar power system for a Malaysian higher education institution. The project includes full development, design, installation, construction, and commissioning of an on-site solar PV system, with completion expected within nine months. The contract aligns with Malaysia's National Energy Policy goal to increase renewable energy capacity from 25% to 70% by 2050. The company anticipates announcing additional EPCC solar PV projects as it expands operations in Southeast Asia.