Latest news with #FounderGroup
Yahoo
6 hours ago
- Business
- Yahoo
Founder Group says ‘will not be impacted' by solar power tax credits wind down
Founder Group (FGL) assures investors that the Company will not be impacted by a U.S. Senate panel's proposed wind down of solar power tax credits by 2028. 'Founder Group operates primarily in Malaysia and doesn't have operations in the U.S. Therefore, the Company should not be affected by the sentiments currently causing selloffs of U.S. solar power stocks,' said Lee Seng Chi, CEO. 'Although we are listed on Nasdaq and trade alongside U.S. solar power stocks, we will not be impacted by the possible elimination of those tax credits. Our revenue is predominantly generated from the Malaysian market hence we are not affected by the changes suggested by President Donald Trump's tax cut and spending bill. In the near future, our expansion will focus on regional expansion in Southeast Asia only. Expansion to the U.S. is not in our current plans.' Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on FGL: Disclaimer & DisclosureReport an Issue Founder Group signs MOU with GCL to cooperate on renewable energy projects Founder Group secures additional contracts with solar installation companies Founder Group files to sell 11.75M ordinary shares for holders Founder Group Secures $10 Million Investment Agreement with Avondale Capital Founder Group Limited Terminates Securities Purchase Agreement Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Founder Group and GCL Systems sign $220m renewable energy MoU
Founder Group has entered a memorandum of understanding (MoU) with GCL Systems Integration Technology to develop renewable energy projects across Malaysia and other ASEAN countries, with potential ventures valued at $220m. The collaboration will involve information exchange, action implementation and periodic reviews to ensure effective cooperation. Both parties are committed to providing their technical expertise for the execution of identified projects within the renewable energy sector. Each company will engage in meticulous procedures aimed at identifying viable projects. If any project materialises from the agreement, a separate definitive contract will be established detailing each company's commitments, including the provision of necessary assistance, relevant information and documents required by the other party. Both companies will use their internal resources to source potential ventures, analyse tenders, formulate business strategies and craft proposals. Founder Group CEO Lee Seng Chi stated: 'We are proud to announce our collaboration with GCL Systems Integration Technology on future renewable energy projects. 'Leveraging GCL's strong global reputation and expertise in manufacturing and supply of solar PV [photovoltaic] modules and storage will be an integral part of this cooperation to advance our capabilities to support Malaysia and the surrounding countries' renewable energy goals and promote a greener environment for our customers. 'Additionally, we anticipate significant revenue opportunities as we work to establish sustainable projects that will drive top-line growth as well as margin and income expansion, which we expect will result in substantial gains in shareholder value.' GCL Systems Integration Technology is a smart PV and storage system integrator, while Founder Group is an engineering, procurement, construction and commissioning solutions provider for solar PV systems in Malaysia. "Founder Group and GCL Systems sign $220m renewable energy MoU" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
