Founder Group Limited Secures First Aquaculture Contract, a US$1.2 million 1.4 MW rooftop system for a Terengganu shrimp farm
Rhea-AI Summary
Founder Group Limited (NASDAQ: FGL), via subsidiary Founder Energy, has signed a turn-key EPCC contract to build a 1.4 MW-peak rooftop solar system for an integrated shrimp farm operating across three sites in Bandar Permaisuri, Terengganu. The contract is valued at about RM4.7 million (US$1.15 million).
This represents Founder Group’s first aquaculture-sector EPCC contract, expanding its customer base into energy‑intensive commercial farming. The scope includes full design, supply, installation and grid connection with Tenaga Nasional, and can be complemented by the company’s AI-driven operations and maintenance platform offering predictive analytics and drone-based inspections.
Positive
- First aquaculture EPCC contract expands Founder Group into a new sector
- Secured RM4.7 million (US$1.15 million) 1.4 MW rooftop solar project
- Showcases integrated EPCC plus AI-driven O&M capabilities for 24/7 operations
Negative
- None.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 10 | Nasdaq compliance | Positive | -2.1% | Nasdaq confirmed compliance with the minimum publicly held shares requirement. |
| Mar 25 | Solar contract award | Positive | -18.1% | Founder secured an additional RM34 million contract under Malaysia's LSS5 programme. |
| Mar 16 | Solar contract award | Positive | -12.3% | Founder won a RM19.5 million contract for a 5.5MW solar plant. |
| Mar 09 | Solar contract award | Positive | -4.7% | Founder secured a utility-scale solar EPCC project under Malaysia's CGPP. |
| Mar 03 | Nasdaq compliance | Positive | -5.4% | Nasdaq confirmed FGL met the US$1.00 minimum bid requirement. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
All five selected historical announcements were followed by negative 24-hour reactions, including three solar-contract disclosures.
Key Terms
epcc technical
o&m technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
KUALA LUMPUR, Malaysia, Aug. 10, 2026 (GLOBE NEWSWIRE) -- Founder Energy Sdn Bhd, a subsidiary of Founder Group Limited (NASDAQ: FGL) (“Founder Group” or the “Company”), has signed a turn-key EPCC (engineering, procurement, construction and commissioning) contract to build a 1.4MW-peak rooftop solar system for a client that operates an integrated shrimp farm across three sites in Bandar Permaisuri, Terengganu. The contract is valued at approximately RM4.7 million (US
Malaysia Renewable Energy Acceleration
Malaysia’s renewable energy (RE) sector is undergoing rapid structural growth, driven by national policy initiatives under the National Energy Transition Roadmap (NETR), which targets
With national utility tariffs adjusting under Regulatory Period 4 (RP4) and fluctuating Automatic Fuel Adjustments (AFA), energy-intensive businesses are increasingly seeking distributed solar solutions to insulate their bottom line from power cost volatility.
Addressing Critical Energy Overhead in Regional Aquaculture
Securing this contract also marking our first EPCC provider for aquaculture contract, operating on a sector the company had not previously served. According to the Department of Fisheries Malaysia, domestic aquaculture produced over 500,000 metric tons valued at approximately US
The adoption of solar energy in commercial aquaculture is rapidly expanding across Southeast Asia. In farming operations, electricity and fuel represent the second-largest controllable expense after feed. Recent regional studies in Brunei and Taiwan demonstrate that rooftop solar can lower aquaculture power costs by as much as
Expanding Service Capabilities: Full-Suite EPCC & AI-Powered O&M
Under the contract, Founder Energy's scope covers supply and installation of the panels, inverters, mounting structures, cabling and related equipment, plus coordination with national utility Tenaga Nasional Berhad, TNB to connect the system to the grid.
Beyond the turnkey EPCC execution, Founder Group in general also provides long-term asset lifecycle management. The Company integrate the Company’s proprietary AI-driven Operations & Maintenance (O&M) technologies. Featuring automated diagnostics, predictive maintenance algorithms, and drone-assisted visual and thermal inspections. Founder Group’s O&M platform autonomously identifies anomalies and detects module defects without human intervention. This ensures uninterrupted system uptime, minimizes performance degradation, and guarantees energy output for high-stakes, 24/7 commercial operations.
CEO Commentary
“Aquaculture is a non-stop, high demand industry where energy cost efficiency directly safeguards production yield and business continuity,” said Lee Seng Chi, chief executive officer of Founder Group Limited. “For farm operators, power is not an administrative cost, it is a core operational driver. By deploying solar energy, we are enabling operators to stabilize their energy costs, insulate their margins against tariff volatility, and achieve meaningful sustainable decarbonization. This milestone project establishes a proven model for how renewable energy can transform traditional food production sectors across Malaysia and the broader region.”
In short, Founder Group's expansion into aquaculture sector provides a scalable operational blueprint for commercial aquaculture farms seeking to reduce reliance on grid electricity and diesel power while improving long-term business profitability.
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:
For media queries, please contact:
Founder Group Limited
info@founderenergy.com.my
