Reservoir Link Proposes Listing of Founder Group Limited On The Nasdaq Stock Exchange

Kuala Lumpur, 3 October 2023 – Reservoir Link Energy Bhd (“Reservoir Link” or “Group”), an energy related services provider, is pleased to announce that its 51% owned subsidiary, Founder Group Limited (“FGL”) is considering to list on the NASDAQ stock exchange. FGL is one of the leading engineering, procurement and construction players which specialises in solar system as well as other engineering works involving civil, structural, mechanical and electrical engineering nationwide.

The proposed listing of subsidiary, which represents a strategic step for FGL, will offer enhanced financial flexibility through a new fundraising platform to accelerate the expansion and growth trajectory of its solar renewable business. By leveraging on the NASDAQ stock exchange, FGL will also be able to improve its corporate image and visibility to penetrate into a wider market thereby broadening both the existing client and investor base. In addition, the exercise will also serve as a platform to strategically review the business and explore new potential avenues to grow the solar renewable energy segment.

Reservoir Link Executive Director Thien Chiet Chai said, “The proposed listing on the NASDAQ stock exchange perfectly aligns with the growth strategy of FGL. It presents us with a unique opportunity to further exercise our growth in the solar renewable energy segment by elevating our market visibility allowing us to potentially penetrate into new markets, unlocking immense value for our stakeholders which was previously unattainable. Taking into account the expected global demand for solar, we expect remarkable growth ahead. Demand will be anchored by supporting factors like the growing adoption of net zero initiatives which have seen overwhelming support from government policies and incentives. Thus, we believe we are well positioned to capture additional market share upon successfully completing the proposed listing.”