Founder Group Business Summary

Founder Group Ltd (FGL) is a Malaysia-based pure-play provider of engineering, procurement, construction, and commissioning (EPCC) solutions for solar photovoltaic (PV) facilities. The company generates revenue primarily through project-based contracts across two core business segments: Large-Scale Solar (LSS), which focuses on utility-scale ground-mounted plants with capacities exceeding 1 MWac, and Commercial and Industrial (C&I), which provides rooftop solar installations for corporate facilities like factories and warehouses. FGL differentiates itself by offering end-to-end services, including initial system design, procurement of modules and inverters, and long-term operation and maintenance. In the competitive landscape of small-cap industrial contractors, FGL competes directly with firms such as Ming Shing Group (MSW), Energys Group (ENGS), and Primega Group (PGHL), positioning itself as a specialized regional leader in the ASEAN green energy transition, recently underscored by a landmark USD 276 million solar-plus-storage contract in Sarawak. The leadership team is headed by Seng Chi Lee, who serves as Chairman and CEO; he brings extensive industry experience from his previous tenure at Reservoir Link Energy Bhd, which remains a major strategic shareholder with a roughly 16% stake. The executive suite includes Chief Financial Officer Sian Seong See, who oversees the firm’s fiscal strategy and recent capital market maneuvers, such as the February 2026 reverse stock split aimed at maintaining Nasdaq compliance. The board of directors features a mix of regional and international expertise, including independent directors Baharin Bin Din, Siew Kuen Sin, and Marco Baccanello. Beyond its strategic tie-up with Reservoir Link, FGL has attracted institutional interest from investors such as Streeterville Capital and Avondale Capital, supporting its mission to scale carbon-neutral infrastructure across Malaysia.