ACE market debutant Solarvest emerges as most active counter

KUALA LUMPUR, Nov 26 -- ACE market debutant Solarvest Holdings Bhd emerged as the most active counter in the early trade.

As at 10.50 am, the solar photovoltaic system specialist surged 31 sen to 66 sen with 141.49 million shares traded from its issue price of 35 sen. 

Solarvest Holdings managing director Lim Chin Siu said the company had grown alongside the renewable energy sector in Malaysia since 2012, having witnessed the shift from Feed-in Tariff mechanism to New Enhance Net Energy Metering scheme as well as the implementation of Large Scale Solar programme. 

He said the domestic renewable energy sector was relatively young and is on its upward trajectory, which translates to more pockets of opportunities for industry players like Solarvest.

The company aims to capitalise on the growing market with the proceeds raised from its initial public offering exercise.

Solarvest’s immediate focus he said, was to increase its market share in the domestic market with plans to expand its footprint in the southern region, capturing business opportunities in Negeri Sembilan, Melaka and Johor.

“As for our long-term growth, we are speaking with a few potential business partners in Vietnam and Taiwan to explore business opportunities there. The outlook is getting brighter for us and we are prepared to seize the sunny prospects ahead,” said Ng in a statement today. 



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