KUALA LUMPUR (March 20): Nasdaq-listed Founder Group Bhd, a subsidiary of Reservoir Link Energy Bhd (KL:RL), has secured a RM11.6 million contract to build a rooftop solar generating facility in Malaysia.

Under the agreement, Founder Group will serve as contractor for the design, engineering, procurement, supply, delivery, construction and commissioning of a rooftop solar photovoltaic (PV) generating facility.

In a statement, Founder Group said the construction contract is expected to be completed in two years. Upon completion of the facility construction, the company said it will sign an operations and maintenance agreement for a period of 15 to 21 years.

Although the identity of the client was not disclosed, the group said that the contract is with a leading solar installation company in Malaysia.

“We are proud that we were able to secure this tremendous contract and continue our on-going partnership with a company that has become one of the premiere solar installation businesses in Malaysia.  

“This contract will provide opportunities for recurring revenue and margin growth which we expect will drive considerable value for our shareholders,” said Founder Group Limited chief executive officer Lee Seng Chi.   

Founder Group is an end-to-end EPCC solutions provider for solar PV facilities in Malaysia. The company’s primary focus is large-scale solar projects, and commercial and industrial (C&I) solar projects.

At Thursday’s closing bell, Reservoir Link’s shares were unchanged at 35 sen, valuing the group at RM117 million.