Founder Group announced that its subsidiary, Founder Energy, is actively tendering for projects under the Large-Scale Solar 6 program, Malaysia's largest-ever utility-scale solar tender. The company believes LSS6 represents a multi-year growth opportunity that could progressively expand its order book from the current tender period through the program's targeted commercial operation date of December 31, 2029. LSS6 was launched in July, offering a total quota of 2,500 megawatts of solar capacity paired with 1,250 megawatts of battery energy storage system capacity, together with a further 150 megawatts of solar capacity reserved for Bumiputera companies in Peninsular Malaysia. PETRA has stated that the program is expected to attract between $3.2B and $3.7B in private investment, with projects to be commissioned in phases and targeted to reach full commercial operation by December 31, 2029. As compared to previous LSS rounds, LSS6 is also the first LSS round to mandate hybrid solar-BESS development, and it translates into an engineering, procurement, construction and commissioning opportunity of comparable scale, the addressable market that Founder Energy is now tendering into.

9/1 10:00

Founder Group Ltd Trading Halted, Volatility Trading Pause

Founder Group Ltd trading halted, volatility trading pause

8/31 20:00

Founder Group Ltd Trading Halted, News Pending

Founder Group Ltd trading halted, news pending

8/27 16:30

Founder Group to Combine Shares at 100-for-1 Ratio

Founder Group announced that the authorized, issued, and outstanding shares of the company will be combined on a 100 for 1 ratio with the marketplace effective date of September 1. The objective of the share combination is to enable the company to regain compliance with Nasdaq and maintain its listing on Nasdaq. Beginning with the opening of trading on September 1, the company's Class A shares of no par value each will trade on Nasdaq on an adjusted basis.

3/25 09:00

Founder Group Secures $8.6M EPC Contract

Founder Group announced that, in collaboration with a prominent solar investment company, it has secured an EPC contract valued at $8.6M under Malaysia's Large Scale Solar 5 program. As per the newly signed contract, Founder Group will undertake the design, construction, testing and commissioning of the 9.5 MW solar facility the Company agreed to build under LSS5 earlier this month. That facility is scheduled to achieve commercial operation not later than May 1, 2027.

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