Founder Group Limited

Kuala Lumpur – October 17, 2026 -- Founder Group Limited (NASDAQ: FGL) has secured a RM19.5 million (approximately US$5 million) engineering, procurement and construction contract for a 5.5MW solar facility under Malaysia's Large Scale Solar 5 (LSS5) programme.

A solar investment company awarded the contract. Founder Group will oversee design, construction, testing and commissioning of the plant.

Plant must reach commercial operation by May 1, 2027

The project carries a guaranteed Maximum Annual Available Capacity (MAAQ) of 13,568.8 megawatt-hours (MWh) for the first two years of operation. Commercial operation is scheduled for May 1, 2027.

CEO Lee Seng Chi said the company aims to achieve energization by early 2027 and cited its track record in utility-scale projects since LSS4.

Kuala Lumpur – October 17, 2026 -- Founder Group Limited (NASDAQ: FGL) has secured an engineering, procurement, construction and commissioning (EPCC) contract valued at RM34 million (about US$8.6 million) under Malaysia's Large Scale Solar 5 (LSS5) programme, lifting its total LSS5 contract value to about RM70 million (about US$17.7 million).

The company won the contract in collaboration with a solar investment company that the source does not name.

Founder Group will build a 9.5 MW facility due online by May 1, 2027

Under the newly signed contract, Founder Group will handle design, construction, testing and commissioning of the 9.5 MW solar facility. The company agreed earlier this month to build the facility under LSS5. Commercial operation is scheduled for no later than May 1, 2027.

Kuala Lumpur – October 17, 2026 -- Founder Energy Sdn Bhd, a subsidiary of Nasdaq-listed Founder Group Limited (FGL), has signed a turn-key EPCC contract worth approximately RM5.58 million (US$1.37 million) to build a 1.78 MW-peak rooftop solar system for a shrimp farming and processing facility in Ayer Hitam, Kedah.

The deal is Founder Group's second solar project for the agricultural sector. It follows a shrimp farm project in Terengganu and is the company's first to combine an integrated shrimp farm with a processing plant.

Kuala Lumpur – October 17, 2026 -- Founder Energy Sdn Bhd, a subsidiary of Nasdaq-listed Founder Group Limited (FGL), has been engaged as subcontractor for a 29.99MWac large-scale solar photovoltaic facility in Daerah Kuala Muda, Kedah, in a deal valued at RM6.05 million (approximately US$1.5 million).

The award falls under Malaysia's Corporate Green Power Programme (CGPP), a national mechanism that lets corporates procure renewable energy directly from large-scale solar developers via the grid.

Founder Energy takes on procurement, installation and commissioning scope

Under the letter of award, Founder Energy covers procurement, electrical and mechanical installation, and commissioning of the facility. Major equipment is excluded and will be purchased directly by the main contractor.

Kuala Lumpur – – October 17, 2026 -- Nasdaq-listed Founder Group Limited (FGL) has completed the acquisition of a 19.90% equity interest in Nichcom Go Sdn. Bhd., the Malaysian charge point operator behind the SpacePlus EV charging brand. Financial terms were not disclosed in the announcement.

Malaysia's charger rollout trails its 2025 target by more than 3,500 units

The Ministry of Investment, Trade and Industry (MITI) reported 6,416 EV chargers installed nationwide as of May 31, 2026: 2,143 DC chargers and 4,273 AC chargers. That is short of the original 10,000-unit target set for 2025. The National Energy Transition Roadmap (NETR) now targets 30,000 public charging stations by 2030, roughly five times today's installed base.

Selangor – October 17, 2026 -- Founder Group Limited (FGL) will combine its shares at a ratio of 100 for 1 effective September 1, 2026, shrinking its Class A share count from 7,369,159 to approximately 73,693 as it works to regain compliance with Nasdaq Marketplace Rule 5550(a)(2).

Class A shares move to a new CUSIP on September 1

Class A shares will trade on the Nasdaq Capital Market on an adjusted basis from the opening of trading on September 1, 2026. The ticker stays "FGL", but the shares carry a new CUSIP number, G3662E147. The company said the aim is to maintain its Nasdaq listing.

Class B count falls from 186,358 to about 1,865

Immediately before the combination, 7,369,159 Class A shares and 186,358 Class B shares, both of no par value, are issued and outstanding. Afterwards, Class A shares will total approximately 73,693 and Class B shares approximately 1,865.

Kuala Lumpur – October 17, 2026 -- Nasdaq-listed Founder Group Limited (FGL) is tendering through its subsidiary Founder Energy Sdn. Bhd. for projects under Malaysia's Large-Scale Solar 6 (LSS6) programme, which is expected to draw RM13 billion to RM15 billion (US$3.2 billion to US$3.7 billion) in private investment.

PETRA offers 2,500MW of solar and 1,250MW of battery storage under LSS6

The Ministry of Energy Transition and Water Transformation (PETRA) launched LSS6 in July 2026. The quota covers 2,500MW of solar capacity paired with 1,250MW of battery energy storage system (BESS) capacity. A further 150MW of solar capacity is reserved for Bumiputera companies in Peninsular Malaysia.

Selangor -- Founder Group Limited (Nasdaq: FGL) has until November 2, 2026, to submit a plan to Nasdaq's staff for regaining compliance after the exchange found the company no longer meets the minimum of 500,000 publicly held shares required for continued listing.

Nasdaq cites Listing Rule 5550(a)(4) in a September 16 letter

The Listing Qualifications Department of Nasdaq Stock Market LLC sent the notification on September 16, 2026. The letter states that FGL no longer satisfies the publicly held shares requirement under Nasdaq Listing Rule 5550(a)(4) for the Nasdaq Capital Market. As a result, the company does not comply with the Listing Rules for continued listing.

Class A ordinary shares keep trading while the deadline runs

The notification has no immediate effect on the listing or trading of FGL's Class A ordinary shares.