PETALING JAYA: Solarvest Holdings Bhd
believes the outlook for Malaysia’s renewable energy (RE) industry remains positive, driven by the government's commitment to increasing RE capacity to 70% of the national energy mix and achieving net zero emissions by 2050.
As of December 2025, Solarvest said its unbilled order book stood at RM1.54bil, which will be progressively recognised in the financial years ending March 31 2026 (FY26) to 2028 (FY28).
Releasing its results for the third quarter (3Q26) ended December 31, the group saw net profit soar by 46.3% year-on-year (y-o-y) to RM21mil, spurred by a 33.8% growth in revenue to RM181.2mil.
Solarvest attributed the turnover improvement primarily to utility-scale projects, with the commencement of the Large Scale Solar 5 programme (LSS5), and the continued execution of Corporate Green Power Programme (CGPP) during the quarter.
It added that the better profitability for 3Q26 was mainly driven by higher contributions from all business segments, coupled with higher share of profits from associate companies.
Likewise, better performances from all its business divisions and a higher share of of profits from associates has also driven a 77.1% y-o-y surge in bottomline for the nine months ended December to RM55.6mil, underpinned by a 56.6% increase in turnover to RM488.4mil.
Compared to the preceding quarter ended September 2025, Solarvest reported that net profit rose 12.3% from RM18.7mil, while topline rose 6.9% from RM169.5mil.
On this sequential improvement, Solarvest said: “The increase in revenue and profit before tax was mainly driven by utility-scale projects, with the commencement of LSS5 during the quarter coupled with the continued execution of CGPP.”
The group did not declare any dividends so far for FY26.
“Barring any unforeseen circumstances, the board is of the view that the group’s overall performance would remain satisfactory for the coming financial year,” it said.
