Founder Group Ltd. partners for RM1.16B renewable energy project
Ticker: FGL · Form: 6-K · Filed: Oct 16, 2025 · CIK: 1989930
Sentiment: mixed
Topics: joint-venture, renewable-energy, project-development, malaysia
TL;DR
Founder Group inks deal for massive RM1.16B renewable energy project in Malaysia.
AI Summary
On September 26, 2025, Founder Group Limited announced a Heads of Agreement with PLANET QEOS SDN. BHD. for the joint development of a large-scale renewable energy facility in Sarawak, Malaysia. The estimated value of this project is up to RM1.16 billion.
Why It Matters
This agreement signifies a significant move by Founder Group into the renewable energy sector, potentially impacting its future revenue streams and market position.
Risk Assessment
Risk Level: medium — The project is in the Heads of Agreement stage, meaning significant development and regulatory hurdles may still exist.
Key Numbers
- RM1.16 billion — Project Value (Estimated total value of the renewable energy facility to be jointly developed.)
Key Players & Entities
- Founder Group Limited (company) — The company filing the report and entering the agreement.
- PLANET QEOS SDN. BHD. (company) — The partner company for the renewable energy project.
- RM1.16 billion (dollar_amount) — The estimated value of the renewable energy facility.
- September 26, 2025 (date) — The date the Heads of Agreement was announced.
- Sarawak, Malaysia (location) — The location of the planned renewable energy facility.
FAQ
What is the specific nature of the renewable energy facility to be developed?
The filing states it is a 'pioneering, large-scale renewable energy facility' but does not specify the exact type of renewable energy (e.g., solar, wind, hydro).
What are the next steps after the Heads of Agreement?
The filing does not detail the subsequent steps or a definitive agreement timeline beyond the execution of the Heads of Agreement.
What is Founder Group Limited's prior experience in the renewable energy sector?
This filing does not provide information on Founder Group Limited's previous involvement or expertise in renewable energy projects.
What is the ownership structure or profit-sharing arrangement for this joint development?
The filing mentions a 'joint development' but does not specify the equity split or financial contributions from each party.
Are there any regulatory approvals required for this project in Sarawak, Malaysia?
The filing does not explicitly mention specific regulatory approvals needed, though it is implied for a project of this scale.
Filing Stats: 365 words · 1 min read · ~1 pages · Grade level 13.1 · Accepted 2025-10-16 16:01:01
Filing Documents
- ea0261466-6k_founder.htm (6-K) — 11KB
- ea026146601ex99-1_founder.htm (EX-99.1) — 12KB
- ex99-1_001.jpg (GRAPHIC) — 20KB
- 0001213900-25-099531.txt ( ) — 51KB
From the Filing
OF FOREIGN PRIVATE ISSUER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of September 2025 Commission File Number 001-42379 Founder Group Limited No. 17, Jalan Astana 1D, Bandar Bukit Raja, 41050 Klang, Selangor Darul Ehsan, Malaysia (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F On September 26, 2025, Founder Group Limited (the “Company”) announced the execution of a Heads of Agreement (the “Agreement”) with PLANET QEOS SDN. BHD., a company incorporated under the laws of Malaysia (“PLANET QEOS”), for the joint development of a pioneering, large-scale renewable energy facility in Sarawak, Malaysia with estimated value of up to RM1.16 billion [USD276 million] (the “Project”). For the purpose of the Project, the Company and PLANET QEOS intend to jointly establish a special purpose vehicle (the “SPV”) and to enter into a joint venture agreement and a shareholders’ agreement to govern their respective rights and obligations in the SPV. The Company expects to hold 45% equity interests of the SPV, with PLANET QEOS holding 55%. The Agreement is intended to set out the commercial framework of the Project and the completion of the transaction is subject to the negotiation and execution of definitive agreements and customary closing conditions. On September 26, 2025, the Company issued press release relating to the Agreement and the Project, a copy of which is attached hereto as Exhibit 99.1, and is incorporated herein by reference. Exhibits Exhibit No. Description 99.1 Press Release-Founder Group Limited Announces Landmark RM1.16 billion [USD276 million] 310 MWp Solar-Plus-Storage Project in Sarawak, Anchoring Regional Green Data Centre, dated September 26, 2025 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Founder Group Limited By: /s/ Lee Seng Chi Name: Lee Seng Chi Title: Chief Executive Officer, Director, and Chairman of the Board of Directors Date: October 16, 2025 2