Reservoir Link Energy Bhd announced that its 51% owned subsidiary, Founder Group Limited is considering listing on the NASDAQ stock exchange. FGL is the group’s engineering, procurement, and construction player specialising in solar systems as well as other engineering works involving civil, structural, mechanical, and electrical engineering nationwide.
The proposed listing of the subsidiary, which represents a strategic step for FGL, will offer the group enhanced financial flexibility through a new fundraising platform to accelerate the expansion and growth trajectory of its solar renewable business.
Reservoir Link Executive Director Thien Chiet Chai said, “The proposed listing on the NASDAQ stock exchange perfectly aligns with the growth strategy of FGL. It presents us with a unique opportunity to further exercise our growth in the solar renewable energy segment by elevating our market visibility allowing us to potentially penetrate into new markets, unlocking immense value for our stakeholders which was previously unattainable. Taking into account the expected global demand for solar, we expect remarkable growth ahead. Demand will be anchored by supporting factors like the growing adoption of net zero initiatives which have seen overwhelming support from government policies and incentives. Thus, we believe we are well positioned to capture additional market share upon successfully completing the proposed listing.”
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