- Started FY2027 on a strong footing, with 1QFY27 net profit margin improved to 12.2% from 11.5% in 1QFY26
- Maintained a robust unbilled order book of RM2,371 million, supporting the Group’s steady growth trajectory in Malaysia’ RE market
Kuala Lumpur, 19 August 2026 – Regional clean energy expert, Solarvest Holdings Berhad (“Solarvest” or “the Group”) started FY2027 on a strong footing, delivering year-on-year (“YoY”) growth in both revenue and net profit while strengthening its profitability in the first quarter ended 30 June 2026 (“1QFY27”).
The Group recorded revenue of RM155.9 million and profit after tax and non-controlling interest (“net profit”) of RM19.0 million for 1QFY27, representing YoY growth of 13.2% and 19.8%, respectively. The strong performance was primarily driven by Large Scale Solar 5 Programme (“LSS5”) and continued execution of the Corporate Green Power Programme (“CGPP”) projects and increased share of profits from associate companies. Net profit margin improved to 12.2%, from 11.5% in 1QFY26.
The engineering, procurement, construction, and commissioning (“EPCC”) segment continued to be the Group’s main revenue contributor, generating RM139.0 million or 89.1% of total revenue. The clean energy generation also posted steady growth, with electricity sales increasing 25.8% YoY to RM9.6 million (FY26: RM7.6 million).
On electricity sales, the Group has secured an aggregate capacity of 135MWp from multiple corporate power purchase agreements under the Powervest pipeline, which is expected to contribute RM54.4 million annual recurrent revenue upon full completion within the next 12 to 18 months.
On a quarterly basis, Solarvest’s revenue amounted to RM155.9 million in 1QFY27, compared to RM270.5 million in the previous quarter (4QFY26). The softer performance was mainly attributed to early stages of execution from utility-scale solar projects under LSS5, coupled with slower project progress in the commercial and industrial (C&I) business segment. Nonetheless, net profit margin improved to 12.2%, compared with 8.9% in 4QFY26.
Executive Director and Group Chief Executive Officer of Solarvest, Dato’ Davis Chong Chun Shiong (张俊雄) said, “Solarvest is entering another year of stronger growth with more Battery Energy Storage System (“BESS”) projects entering the market, greater policy clarity and a much broader addressable opportunity ahead of us. We aim to convert close to half of our existing order book into revenue in FY27, while growing our order book to RM5 billion over the next year, supported by the booming Malaysia solar-plus-BESS ecosystem.”
“Following the announcement of LSS6 with a total capacity of 2.65 GW, Malaysia is officially entering the solar-plus-BESS era, representing an estimated of RM15 billion contract and investment values. At the same time, new contracts under the Corporate Renewable Energy Supply Scheme (“CRESS”) in the second half of our financial year will further accelerate third-party grid access and open up a larger avenue for corporate renewable energy procurement.”
“As of 1Q2026, Tenaga Nasional Berhad (TNB) was supplying 36 operating data centres with approximately 4.5GW of planned supply capacity, while another 23 data centres under construction represent 3.8GW of maximum demand capacity. By 2030, Malaysia’s data centre power demand is projected to reach 7.7GW to 12.9GW. This points to a significant structural energy opportunity that will require substantially more renewable generation, BESS, grid infrastructure and intelligent energy management solutions.”
“Energy transition is no longer just about generating clean electrons. It is increasingly focused on building a smarter, more flexible and connected grid to support the rapid growth of AI-driven energy demand. Solarvest’s integrated clean energy platform places us in a strong position to participate across the full energy value chain – from clean energy generation, energy storage to electricity sales, energy efficiency and smart energy management – to support increasingly complex energy requirements of Malaysia’s booming AI data centre growth.”
The Group has maintained a robust unbilled EPCC order book of RM2,371 million, which will be progressively recognised over the financial years ending 31 March 2027 and 2028.
“We are actively building momentum to convert our healthy tender book and project pipeline – comprising 9.96 GWp in Malaysia and 1.81 GWp in international markets – into operational projects. Our pipeline is not only getting larger, but also becoming more diversified across utility-scale solar, BESS, CRESS, electricity sales, energy efficiency and our newly launched smart energy management solutions. This gives us greater confidence in our ability to continuously replenish our order book as existing projects move into execution, while building a broader and more resilient earnings base for the Group,” Dato’ Davis concluded.