Welcome to our dedicated page for Founder Group news (Ticker: FGL), a resource for investors and traders seeking the latest updates and insights on Founder Group stock.
Founder Group Limited (NASDAQ: FGL) is a Malaysia-focused EPCC provider for solar photovoltaic facilities, and the news flow around the company reflects its role in the country’s renewable energy build-out. This page aggregates announcements, market updates and project milestones that the company releases through news wires and regulatory channels.
Readers can follow updates on large-scale solar (LSS) projects, commercial and industrial rooftop solar installations, and specialized initiatives such as floating solar farms. Founder Group’s news often covers new EPCC contracts with prominent solar installation companies in Malaysia, letters of award for utility-scale plants, and agreements related to civil, structural, mechanical, wiring, installation, commissioning and interconnection scopes.
The company also issues news on strategic partnerships and technology initiatives, including collaborations for renewable energy projects across Malaysia and other ASEAN countries, as well as AI-powered unmanned aerial vehicles for solar farm inspections. These updates highlight how the company is integrating AI and drone technology into solar operations and maintenance to enhance inspection efficiency and performance monitoring.
Capital markets and corporate governance developments are another recurring theme in Founder Group’s news. Items may include Nasdaq notifications regarding listing requirements, shareholder meeting results, changes to share structures and financing arrangements such as convertible notes. Together, these news items provide context on both the company’s project pipeline and its corporate evolution.
Investors, analysts and industry observers can use this news feed to monitor Founder Group’s contract wins, partnerships, regulatory notices and strategic initiatives within Malaysia’s solar and broader renewable energy sector.
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.
Founder Group (FGL), a Malaysian solar PV facilities EPCC solutions provider, has successfully completed its initial public offering. The company offered 1,218,750 ordinary shares at $4.00 per share, raising total gross proceeds of $4.875 million. Trading commenced on the Nasdaq Capital Market on October 23, 2024, under the ticker symbol 'FGL'. US Tiger Securities served as the sole underwriter for the offering, which was conducted following SEC registration statement approval on September 30, 2024.
Founder Group (FGL), a Malaysian EPCC solutions provider for solar PV facilities, has announced the pricing of its initial public offering. The company is offering 1,218,750 ordinary shares at $4.00 per share, aiming to raise $4.875 million in gross proceeds before deductions. Trading will commence on Nasdaq Capital Market on October 23, 2024, under the symbol 'FGL'. The company has granted underwriters a 45-day option to purchase up to 182,813 additional shares. US Tiger Securities is serving as the sole underwriter, with the offering expected to close around October 24, 2024.
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