Solarvest Support Fight Against COVID-19

Solarvest Support Fight Against COVID-19

Solarvest Holdings Berhad has pledged to donate 1 million medical gloves worth approximately RM150,000 through the Supermax Foundation to support Malaysian authorities in combating the Covid-19 pandemic.

Group CEO of Solarvest, Mr. Davis Chong said, “As many brave frontliners are relentlessly fighting against the global pandemic, we would like to help ease some of the pressure faced by the healthcare frontliners as supplies of medical items are depleting. Our thoughts continue to be with the victims of Covid-19 and their families as well as frontline healthcare professionals during this difficult period.”

“At Solarvest, we stand in solidarity with the communities we serve, in good and bad times. We believe everyone has a role to play in this battle. Together, let’s do our collective part in combating this unprecedented situation,” he concluded.

Founder of Supermax Corporation Berhad, Datuk Seri Stanley Thai said, “We welcome more corporates such as Solarvest to come forward to support our quest to save lives and minimize the widespread of the Covid-19 outbreak. The nitrile powder-free medical gloves will be distributed to the Malaysian government hospitals, police stations and the healthcare industry’s first responders with the help of National Disaster Management Agency of Malaysia (NADMA) to ensure timely delivery.”

For further information on “MalaysiaBebasCovid19” campaign, the public can be directed to or browse through the news article here.

Thank you Bernama for featuring us and the news article can be found here.



Solarvest to Raise RM34.6 million from IPO

Solar photovoltaic system specialist, Solarvest Holdings Berhad (“Solarvest” or the “Group”), has successfully launched its prospectus in conjunction with its initial public offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).

The launching ceremony was graced by YB Yeo Bee Yin, Minister of Energy, Science, Technology, Environment and Climate Change (“MESTECC”) with Dr. Chen Wei-Nee, Chief Strategy Officer of SEDA Malaysia in attendance.

Solarvest specialises in turnkey engineering, procurement, construction and commissioning (“EPCC”) services for solar photovoltaic (“solar PV”) systems. The Group has completed solar PV systems for Large Scale Solar Photovoltaic (“LSSPV”) plants as well as residential, commercial and industrial properties.

Its services cover the entire process of a solar PV project from the initial site study and assessment, design and procurement of components and modules, to system installation and commissioning. The Group also provides operations and maintenance services of solar PV systems.

Group Chief Executive Officer of Solarvest, Mr. Davis Chong Chun Shiong (张俊雄) said, “The event symbolizes a significant milestone for Solarvest as we en route to list on the local bourse. It is an opportune time for the Group to stay at the forefront to reap the promising growth of the renewable energy industry and emergence of new market opportunities.”

Earlier in his speech, Davis said that the Malaysian solar sector is experiencing an expansionary phase and there are increasing levels of interest in solar. The take-up rates of the Net Energy Metering programme and Large-Scale Solar PV (“LSSPV”) programme have seen encouraging growth amongst commercial and industrial users as well as large investors.

The outlook of the solar industry is further enhanced by the strong support from the local government, whereby various policies and programmes were implemented to accelerate investment shifts towards renewable energy.

According to Independent Market Researcher, Protégé Associates Sdn Bhd, the total solar PV installed capacity in Malaysia is set to grow at a compound annual growth rate of 50% during the period of 2018 to 2023, he added.

“The upward growth trajectory of the renewable energy industry in Malaysia will undoubtedly provide Solarvest new growth opportunities, especially in the LSSPV segments. In addition to that, all solar contractors for engineering, construction and commissioning of Large-Scale Solar 3 (LSS 3) projects are now required to be 100% local. Malaysian solar contractors, including Solarvest, stand poised to benefit from this positive development,” he further added.

The Group is optimistic that the listing exercise will position Solarvest to better harness the rising market opportunities in the solar sector, as well as enabling it to gain access into the capital markets for its future growth.

Solarvest will be raising approximately RM34.6 million from its IPO, of which RM19.2 million or 55.5% will be utilised for the Group’s working capital for daily operations and future projects.

RM3.0 million or 8.7% will be for its geographical expansion in the domestic and international markets. Locally, the Group will spread its footprint in the Southern region of Peninsular Malaysia, pursuing business opportunities in Negeri Sembilan, Melaka and Johor. Beyond Malaysia, Solarvest plans to enter into new markets, namely Vietnam and Taiwan.

Moreover, the Group will channel some of the proceeds to enhance its technical capabilities, which includes acquiring new project machinery and equipment as well as upgrade its information technology (“IT”) software and hardware (RM4.0 million or 11.5%). The remaining of the IPO proceeds will be used for repayment of bank borrowings (RM5.0 million or 14.5%) and listing expenses (RM3.4 million or 9.8%).

The IPO entails a public issue of 98,828,000 new shares in the Group, representing 25.3% of its enlarged share capital at an issue price of RM0.35 per share in the following manner:-

  • 19,531,000 new shares available for the Malaysian public;
  • 19,531,000 new shares available for application by eligible Directors, employees and persons who have contributed to the success of Solarvest;
  • 39,063,000 new shares by way of private placement to Bumiputera investors approved by the Ministry of International Trade and Industry, Malaysia (“MITI”);
  • 20,703,000 new shares by way of private placement to selected investors.

Upon listing on the ACE Market, Solarvest will have market capitalisation of RM136.7 million based on the issue price of RM0.35 and its enlarged share capital of 390.6 million shares.

Pursuant to the launch of Solarvest’s prospectus, applications for the Public Issue are open today and will close on Monday, 11 November 2019 at 5.00 p.m. Solarvest is slated to be listed on the ACE Market of Bursa Securities on Tuesday, 26 November 2019.

M&A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO exercise.

Solarvest is 45.0% owned by Main Market listed, Chin Hin Group Berhad (“Chin Hin”). Upon completion of the IPO, Chin Hin’s shareholding will be approximately 33.6%.

Source: Focus Malaysia

中盛能源与Atlantic Blue签约

深耕东南亚 – 中盛能源与Atlantic Blue马来西亚61MW光伏电站开建

全球领先的清洁电力开发运营商——中盛能源宣布联合其合作伙伴中电工程西北电力设计院与马来西亚玛拉工艺大学控股公司(UiTM Holdings)旗下领先的太阳能光伏项目开发商玛拉工艺大学太阳能公司(UiTM Solar Power Sdn Bhd)于11月8日在吉隆坡签署工程总承包合同,为后者的 61MW 地面光伏电站提供工程、采购、施工建设及运维服务,项目完工后将成为迄今为止马来西亚单体规模最大的地面光伏电站之一。



作为马来西亚第一轮大型光伏电站招标项目计划下中标的19个项目之一,总计61MW 的地面光伏电站坐落于马来西亚东部彭亨州关丹市甘孟镇,总占地面积110公顷。超过22万块高效光伏组件将在未来一年左右的时间内完成铺设、安装,经项目并网调试,于2018年年底前并入当地电网,投产发电。该电站日常所产生的清洁电力足够满足超过8万户家庭的日常用电需求。






根据政府制定的目标,马来西亚可再生能源规模有望于2020年达到2.08GW,占总发电量的7.8%,作为可再生能源领域的重要组成部分,光伏发电得到了该国政府的大力支持。基于对清洁能源以及马来西亚光伏市场未来发展的一致信念,自去年6月马来西亚政府推出大型光伏项目招标计划开始,中盛能源与当地合作伙伴 UiTM Solar Power Sdn Bhd和Atlantic Blue Sdn. Bhd. 在马来西亚市场展开全面深入合作,充分发挥各自优势,持续深耕马来光伏市场。并在上述首轮招标计划下成功斩获两个项目,首座12MW地面光伏电站已进入并网试运营阶段,预计将于年前投产发电。

UiTM Holdings CEO Mr. Azlizan Fadzil

UiTM Holdings CEO Mr. Azlizan Fadzil