KUALA LUMPUR (July 15): Solar District Cooling Group Bhd (KL:SDCG) has secured a RM18.5 million contract to upgrade the building management system for railway transit stations and ancillary buildings across the Klang Valley.

The contract was awarded by a "major facility management player in the industry", SDCG said in a bourse filing on Wednesday, without naming the company.
 
The two-year contract covers the supply and installation of the stage two building management system upgrade, which will be integrated with existing environmental control, fire protection and power systems.

SDCG said it will fund the purchase of materials and installation works through a combination of IPO proceeds, trade facilities and internally generated funds. The contract is expected to contribute positively to the group's earnings and net assets per share from the financial year ending Dec 31, 2026, until its completion.

The clean energy player, in which Solarvest Holdings Bhd holds a 22% stake, had cash and cash equivalents of RM35.6 million and borrowings of just RM128,000 as at end-March.

SDCG was listed on Bursa Malaysia's ACE Market in September 2024, raising RM45.1 million from its IPO at an issue price of 38 sen per share.

The stock closed half a sen, or 0.7%, higher at 70.5 sen on Wednesday, giving the group a market capitalisation of RM296.7 million. The counter has risen over 28% year-to-date.