Reservoir Link Energy Bhd announced its plans to finalize the listing of its 2021 acquisition, Founder Energy Sdn Bhd, on the US NASDAQ exchange by the year's end.
In a statement today, the company revealed its accomplishment of over 1.5 GigaWatt (GW) of solar projects since venturing into the renewable energy sector in 2021.
"Our bold move into solar energy has proven highly rewarding, surpassing our initial expectations and emerging as a significant revenue contributor," remarked Reservoir Link's Executive Deputy Chairman, Thien Chiet Chai.
"This marks just the beginning of our journey, with the imminent listing of Founder Energy on NASDAQ scheduled for completion this year," added Thien Chiet Chai. "We are enthusiastic about our future prospects as we continue to lead in sustainable energy solutions, aligning with the global shift towards cleaner energy for a sustainable future."
Reservoir Link reported a net loss of RM333,000 for the nine-month period ending March 31, 2024, contrasting with a net profit of RM4.1 million in the same period of the previous financial year. This was amid a 20% rise in revenue to RM142.6 million for the financial year 2024.
The share price of Reservoir Link closed down 5.6% at 33.5 sen per share, resulting in a market capitalisation of RM106 million.