KUALA LUMPUR (Sept 19): Solarvest Holdings Bhd (KL:SLVEST) said Bursa Malaysaia has approved its request for a suspension in the trading of its shares on Monday (Sept 22), pending the release of a material announcement.
The suspension will also apply to structured warrants relating to the company, according to the company's filing with the exchange on Friday.
Solarvest announced earlier this month that the company, together with Malakoff Corp Bhd (KL:MALAKOF), has been selected to develop a 470MWac solar power plant in Perak's Larut dan Matang district under the government’s latest large-scale solar bidding round (LSS5+).
The 80:20 consortium between Malakoff and Solarvest has entered into a 21-year power purchase agreement with Tenaga Nasional Bhd (KL:TENAGA), with commercial operations targeted by end-2027.
The Energy Commission had earlier confirmed that 13 out of 37 bids were shortlisted under LSS5+, with a combined capacity of 1,975MW.
Kenanga Research recently said that the win has lifted Solarvest’s outstanding order book to a record RM2.4 billion, surpassing the RM2 billion mark for the first time. It also boosted the company’s 2026 year-to-date job wins to RM1.8 billion, well above its full-year assumption of RM1.2 billion.
The research house maintained an "outperform" rating and raised its target price to RM3.25, citing stronger earnings visibility and margins of between 10% and 12% from its engineering, procurement, construction and commissioning (EPCC) works.
Phillip Capital, meanwhile, projected Solarvest could generate steady recurring income from its 20% stake in the project “at a later stage”, estimating RM4 million in profit after tax. It raised its target price to RM3.36.
Of the 10 analysts covering the stock, seven have "buy" calls and three rate it a "hold", according to Bloomberg.
Solarvest shares closed up one sen or 0.37% at RM2.72 on Friday, giving the company a market capitalisation of RM2.23 billion.