KUALA LUMPUR (Sept 19): Energy solutions provider Solar District Cooling Group Bhd (KL:SDCG) is exploring the integration of solar photovoltaic (PV) systems and enhancing its capabilities in information and communication technologies (ICT) software, to deliver the latest technology solutions following the group’s listing on the ACE Market of Bursa Malaysia on Thursday.
Managing director Edison Kong remains optimistic about prospects of the building management systems (BMS) and energy efficiency industry in Malaysia, citing that the growing demand for energy efficiency remains strong.
“Energy cost is relatively low compared to global standards, so it is likely that it will rise in future,” said Kong during a press conference after the group’s listing.
He also noted that BMS and solar thermal solutions play a critical role in helping clients reduce energy consumption and operational costs.
“This places the group in a strong position to help navigate the changing energy landscape, while reducing carbon footprint.
“The solutions are not only to improve efficiency, but also deliver long-term savings,” he added.
Meanwhile, the group’s current unbilled order book stands at RM22.78 million, with an additional RM8.13 million secured on Wednesday (Sept 18), bringing the total to over RM30 million.
Solar District specialises in building management systems, solar thermal solutions, and energy-saving services. It also undertakes system and equipment maintenance projects, including gas-fired chillers and chilled water systems.
The company’s top clients — a concession company, a construction company, a facilities management company, and a building owner — account for more than half of its total revenue for the financial year 2023 (FY2023).
It is also actively looking for projects across various sectors, including commercial buildings, financial institutions, healthcare, industrial properties, and hotels.
Solar District Cooling saw a successful ACE Market debut on Thursday. The counter opened at 50 sen — a 12 sen or 31.58% premium over its initial public offering (IPO) price of 38 sen.
At noon market break on Thursday, the most active counter on Bursa Malaysia traded 13.5 sen higher at 51.5 sen, after rising as much as 18 sen to touch a high of 56 sen earlier.
At 51.5 sen, the group had a market capitalisation of RM218.27 million. It last traded at a historical FY2023 price-to-earnings ratio of 34 times, based on a net profit of RM6.35 million that year.