Founder Group Targets Malaysia's RM13–15 billion (approximately US$3.2 billion and US$3.7 billion) LSS6 National Solar Programme, Positioning for Multi-Year Order Book Growth Through 2029

KUALA LUMPUR, Malaysia, Sept. 02, 2026 (GLOBE NEWSWIRE) -- Founder Group Limited (‘Founder Group' or the ‘Company') (NASDAQ: FGL) announced today that its subsidiary, Founder Energy Sdn. Bhd. (‘Founder Energy'), is actively tendering for projects under the Large-Scale Solar 6 (“LSS6”) programme, Malaysia's largest-ever utility-scale solar tender. The Company believes LSS6 represents a multi-year growth opportunity that could progressively expand its order book from the current tender period through the programme's targeted commercial operation date of December 31, 2029.

LSS6: Malaysia's Largest Utility-Scale Solar Programme

The Ministry of Energy Transition and Water Transformation (PETRA) launched LSS6 in July 2026, offering a total quota of 2,500 megawatts (MW) of solar capacity paired with 1,250MW of battery energy storage system (BESS) capacity, together with a further 150MW of solar capacity reserved for Bumiputera companies in Peninsular Malaysia. PETRA has stated that the programme is expected to attract between RM13 billion and RM15 billion (between US$3.2 billion and US$3.7 billion) in private investment, with projects to be commissioned in phases and targeted to reach full commercial operation by December 31, 2029. As compared to previous LSS rounds, LSS6 is also the first LSS round to mandate hybrid solar-BESS development, and it translates into an engineering, procurement, construction and commissioning (EPCC) opportunity of comparable scale, the addressable market that Founder Energy is now tendering into.

Founder Energy's Service Capabilities: Full-Suite EPCC & AI-Powered O&M

Founder Energy's end-to-end EPCC capability is well matched to the LSS6's scale, phased build-out, and multi-year construction runway, and the Company expects to see its order book growth progressively between now and the programme's targeted commercial operation date as tender awards and construction packages are officially commerced.

Since inception, Founder Energy has been involved in over 70 solar EPCC and sub-EPCC projects across Peninsular Malaysia, spanning most of the phases of the government's LSS programme since 2016, the Corporate Green Power Programme (CGPP), independent power producer (IPP) and Self-Consumption (SELCO) schemes, floating solar, and commercial and industrial (C&I) rooftop installations. Across its completed and on-going project base, Founder Energy has delivered work on facilities representing a combined total of over 1GWp of DC solar capacity, with an aggregate contract value of approximately RM520 million (US$128.6 million). Founder Group's demonstrated ability to secure both direct EPCC awards, and sub-EPCC packages alongside established industry participants is a core competitive strength that it intends to leverage in pursuing LSS6 opportunities.

Beyond EPCC delivery, Founder Group also provides long-term asset lifecycle management. The Company integrates the proprietary AI-driven Operations & Maintenance (O&M) technologies. With LSS6 the first LSS round to mandate integrated BESS and a 2029 commercial operation horizon spanning decades of subsequent operation, the Company believes this O&M capability also positions it to capture recurring, long duration revenue that extends well beyond the construction phase into long-term asset management, complementing the project-based EPCC order book with a recurring, longer tail revenue stream.

CEO Commentary

“LSS6 is the largest solar tender Malaysia has ever launched, and it plays directly to our strengths as a full-capability EPCC provider. We are already active in the market, and our existing collaboration with leading Malaysian and International Solar companies who are best positioned to win LSS6 packages will directly benefit us through awards to be made over the next four years. Between these four years until LSS6 commissioned at the end of 2029, we are going to see us replenish our order book with new contracts and grow the business substantially,” said Lee Seng Chi, chief executive officer of Founder Group Limited.

About Founder Group Limited

Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities in Malaysia. The company's primary focus is on two key segments: large-scale solar projects and commercial and industrial (C&I) solar projects. The company's mission is to provide customers with innovative solar installation services, promote eco-friendly resources and achieve carbon neutrality.

For more information on the Company, please visit https://www.founderenergy.com.my/.

Safe Harbor Statement

This press release contains forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties and other factors, including those listed under “Risk Factors” in the Company's filings with the U.S. Securities and Exchange Commission, may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.

CONTACT INFORMATION:

For media queries, please contact:

Founder Group Limited
info@founderenergy.com.my