Sunview Group Bhd is expected to benefit from the Corporate Green Power Programme (CGPP) and the fifth cycle of the Large Scale Solar (LSS5) project into 2025 and 2026, as plenty of contract jobs will be available to replenish the group's RM244.6 million order book, according to a research note dated Dec 11 issued by MIDF Research.

As noted, the CGPP solar projects have to be completed by the deadline of no later than 2025 unless approved by the Energy Commission, market analysts expect more awarded projects to be announced towards end-2024 and in Jan-25.

Sunview currently has a tender book valued at around RM2.4 billion, including RM1.8 billion of LSS5 tenders, RM500 million of CGPP projects, and RM116 million of rooftop projects.

Sunview is optimistic on solar rooftop projects moving forward as about half of Sunview's revenue of RM88.0 million for the first half of financial year ending 31 March 2025 came from commercial and industrial rooftop projects. Analysts expect CGPP-related projects to deliver an immediate boost to the group's outstanding order book.

MIDF Research has maintained the BUY call for Sunview, and has kept the target price at RM0.64, potentially rewarding a premium of 17.5 sen, or 37.6%, over market valuation.

As at 3:31pm Dec 11, Sunview's stock traded at RM0.465. (Stock updates from Bursa Malaysia)

To date, the Ace market industrial products & services listing has secured one solar project worth RM51.9 million from Cenergi Solar Kuala Ketil Sdn Bhd in September 2024 which is a free issue contract where the client will provide the solar panels, mounting structures and inverter. Sunview's role is mainly to install and procure for supplementary parts such as connection equipment and cables.