Northern Solar Holdings Bhd has completed the transfer of its listing and quotation from Bursa Malaysia’s ACE Market to the Main Market, effective at 9am today.
The transfer comes about 20 months after the solar engineering, procurement, construction and commissioning (EPCC) company was listed on the ACE Market on Feb 6, 2025. It will retain the stock short name “NORTHERN” and stock code 0340.
The move follows the Securities Commission Malaysia’s approval of the proposed transfer announced on Aug 28, after Northern Solar first announced the plan on March 25 and submitted its application on March 30.
For the first quarter ended June 30, 2026 (1QFY2027), Northern Solar recorded revenue of RM38.2 million, up 36.1% from RM28.0 million a year earlier, while profit attributable to owners of the parent increased to RM3.97 million from RM3.85 million.
As at June 30, the group had an unbilled order book of RM189.3 million and a tender book of RM2.23 billion, providing project visibility across its key business segments.
Northern Solar has also expanded into utility-scale solar after securing a RM119.38 million Large Scale Solar 5-related award in March, with the project currently under delivery and revenue recognition expected across FY2027 and FY2028.
The group is also developing its battery energy storage system capabilities alongside its core commercial and industrial and residential solar businesses.
As at June 30, Northern Solar had cash and bank balances of RM44.5 million and total equity of RM87.3 million.
Managing director Lew Shoong Kai said the transfer marked the next stage of the group’s development since its ACE Market listing, while its business focus remained unchanged.
“Our transfer to the Main Market represents the next stage of Northern Solar’s development since our listing in February 2025. During this period, we have continued to strengthen our operating track record while broadening our capabilities beyond our core solar EPCC business,” he said.
“As a Main Market-listed company, our business focus remains unchanged. We will continue to pursue growth opportunities that leverage our technical and execution capabilities, while maintaining disciplined project execution and prudent capital management.”
Northern Solar said it would continue to pursue new EPCC contracts, execute its existing order book, expand its renewable energy asset portfolio and explore opportunities arising from Malaysia’s energy transition.
As of 10.16 am, the stock price dropped 1.61% to RM1.22 in main market.
