KUALA LUMPUR (March 18): Solarvest Holdings Bhd (KL:SLVEST) said it has secured an engineering, procurement, construction and commissioning (EPCC) contract worth RM89.5 million for the development of a solar photovoltaic plant in Perlis.
In a filing Wednesday, the group said its wholly-owned Atlantic Blue Sdn Bhd (ABSB) had entered the contract with Jubli Pasifik Sdn Bhd (JPSB) for the project, a 36MWac solar photovoltaic plant in Padang Siding, Perlis, under the Large-Scale Solar 5 programme (LSS5+).
JPSB is principally involved in the installation of non-electric solar energy collectors and the operation of electric energy generation facilities. It is 73%-controlled by G & C Utama Sdn Bhd.
Solarvest said ABSB will commence work upon receiving the notice to proceed from JPSB, with completion targeted by Feb 26, 2028.
This is Solarvest’s maiden contract win for the year. The renewable energy firm posted a net profit of RM21.03 million for its third quarter ended Dec 31, 2025 (3QFY2025), up 46% from RM14.37 million a year earlier, and is on track to achieve its best full-year performance since listing.
Quarterly revenue rose 33.8% to RM181.22 million from RM135.4 million. Its EPCC segment contributed RM427.2 million, or 87.5% of total revenue, while green energy generation accounted for RM24.2 million.
In announcing the quarterly results last February, the group also reported a record unbilled EPCC order book of RM1.54 billion.
According to AskEdge, Solarvest’s trailing 12-month earnings before interest, tax, depreciation and amortisation margin stood at 17.4%, among the highest in its peer group, while return on equity was 19.5%.
Solarvest’s share price closed 19 sen or 8.8% higher at RM2.36 on Wednesday, giving the group a market capitalisation of RM2.25 billion.
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