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MARKETS / NASDAQ / FGL
NASDAQ · CONSTRUCTION - SPECIAL TRADE CONTRACTORS · SMALL CAP

Founder Group Ltd. FGL

3 fiscal years on record · MYR · FY2024 reported · SEC filings only
MYR 90.3M
▼ 39.0% YoY
MYR -5.0M
▼ 170.2% YoY
MYR -7.4M
In brief

What this company does

Founder Group Limited is a dedicated solar solutions provider in Malaysia, offering end-to-end services for commercial and industrial sectors as well as large-scale solar power projects, encompassing project design, engineering, and comprehensive project management. Its primary focus is on two key segments: large-scale solar projects and commercial and industrial (C&I) solar projects, with large-scale solar projects being utility scale solar PV power plants with installed generating capacity of 1 MWac or more. As an EPCC provider, the company assumes most of the responsibility for the entire project lifecycle, from design and engineering to material procurement, construction, installation, integration, and commissioning. C&I projects are smaller scale solar projects where the solar PV systems are installed on rooftops and are designed to generate electricity for commercial and industrial properties for their own consumption, such as factories, warehouses and commercial stores. In the fiscal years ended December 31, 2023, 2024, and 2025, the company's total revenue was RM148,053,973 (approximately US$32,245,230), RM90,344,588 (approximately US$20,186,479), and RM120,697,610 (approximately US$29,721,156), respectively. Founder Energy (Malaysia) was established on April 13, 2021, as a private company limited by shares organized under the laws of Malaysia. In connection with the IPO, the company underwent a reorganization, incorporating Founder Group as a BVI business company on May 18, 2023, which then acquired 100% of the equity interests in Founder Energy (Malaysia) on June 14, 2023, becoming the ultimate holding company of all other entities. As of December 31, 2025, 2024 and 2023, the company had 76, 82, and 45 full-time employees, respectively.

Written from the business description in Founder Group Limited's annual report to the U.S. Securities and Exchange Commission, filed 28 April 2026. Every sentence was checked against that document before publication.

Growth
MYR 90.3M
Revenue, FY2024 · full 3-year series below
Revenue MYR M Net income MYR M
FY2024 · Revenue 90.3 · Net income -5.0
50M100M202220232024
Compound annual growth
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−6 cents
lost on every revenue dollar
Operating margin Net margin
FY2024 · Net -5.7%
2%4%6%-2%-4%202220232024
ROE

Not available in our data for this period.

Cash & shareholders
returned in FY2024 · dividends + net buybacks
Free cash flow MYR M
FY2024 · FCF -7.4
-8M-16M202220232024

Total assetsMYR 114.3M
CashMYR 4.6M
Gross debtMYR 35.0M
Net debtMYR 30.5M
DepositsMYR 7.9M
Current ratio0.89×

Not available: we don't have the shareholders' equity figure for this period.

The 3-year record
3 fiscal years
Every figure from documents filed with the SEC · MYR
row low → row highnegative
Metric 202420232022
Revenue MYR B0.10.10.1
Operating income MYR B···
EBITDA MYR B···
Income tax MYR B−0.00.00.0
Net income MYR B−0.00.00.0
Free cash flow MYR B−0.0−0.0−0.0
EPS, diluted MYR −0.280.460.25
Dividend / sh MYR ···
Payout %···
ROE %···

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 13 reconciliationsAUDITED

Reconciled in 3 of 19 fiscal years. 82 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityConstruction - Special Trade Contractors
Listed onNASDAQ
Incorporated inoutside the United States — SEC code D8
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2022

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