Founder Group announces #3.8M new solar EPCC photovoltaic contract
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 01 2024
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Should l Buy FGL?
Contract Announcement: Founder Group's subsidiary, Founder Energy Sdn Bhd, has secured a $3.8M contract to develop a solar power system for a Malaysian higher education institution.
Project Details: The project includes the full development, design, installation, construction, and commissioning of an on-site solar PV system, expected to be completed within nine months.
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About FGL
Founder Group Limited is principally engaged in providing engineering, procurement, construction and commissioning (EPCC) solutions provider for solar PV facilities in Malaysia. The Company’s segments include Large-scale solar projects and Commercial & Industrial (C&I) projects. Large-scale solar projects are utility scale solar photovoltaic (PV) power plants with installed generating capacity of one megawatt alternating current or more. Large-scale solar projects are ground mounted and are designed to supply power to the power grid. C&I projects are smaller scale solar projects where the solar PV systems are installed on rooftops and are designed to generate electricity for commercial and industrial properties for their own consumption, such as factories, warehouses and commercial stores. The Company offers engineering and design, from initial conceptualization up to detailed system design. This includes designing the solar PV array and balance of system.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Adjustment Details: Post-combination, the number of Class A shares will decrease from 32,178,109 to approximately 321,781, while Class B shares will reduce from 9,324,733 to about 93,247, ensuring shareholders' holdings are rounded to the nearest whole number.
- Market Impact Analysis: This share combination is expected to align the company with Nasdaq regulations, potentially boosting investor confidence and improving the company's image in the capital markets, thereby enhancing future financing capabilities.
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