KUALA LUMPUR, Sept 19, 2024 – (ACN Newswire) – Solar District Cooling Group Berhad (“SDCG”) proudly marked its debut today on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). The shares opened at RM0.500 per share, reflecting robust market confidence and achieving a significant 31.6% premium over the IPO price of RM0.380 per share.
2. Mr. Wong Kei Fai, Independent Non-Executive Director, Solar District Cooling Group Berhad
3. YM Raja Nor Azlina Binti Raja Azhar, Independent Non-Executive Director, Solar District Cooling Group Berhad
4. Mr. Edison Kong, Managing Director, Solar District Cooling Group Berhad
5. Mdm. Eileen Liuk, Executive Director, Solar District Cooling Group Berhad
6. Ir. Dr. Khairul Azmy Bin Kamaluddin, Independent Non-Executive Chairman, Solar District Cooling Group Berhad
7. Mr. Chew Sing Guan, Managing Director, Mercury Securities Sdn. Bhd.[L-R]
SDCG and its subsidiaries (“Group”) are principally involved in the provision and maintenance of BMS, solar thermal systems and energy saving services. The Group has a proven track record of enhancing energy efficiency across healthcare, hospitality and industrial sectors. SDCG Group is involved in providing energy performance services to the concession companies that are providing hospital support services for public hospitals. The concessionaires engaged SDCG Group as a subcontractor to carry out energy efficiency work related to the installation of hybrid solar thermal hot water systems, and for some contracts, retrofitting of fluorescent lighting of LED lighting.
SDCG Group was listed under the stock name “SDCG” today with the stock code “0321.”
With a track record in providing Building Management System (“BMS”) and solar thermal systems, SDCG is an established player in the fields of BMS and solar thermal hot water systems backed by 17 years of industry experience. The Group’s solutions and dedication to sustainability have played a role in enhancing energy efficiency for its clients and supporting their environmental, social, and governance (“ESG”) objectives, including reducing carbon footprints and improving operational efficiency.
The successful initial public offering of Solar District Cooling Group Berhad raised approximately RM45.1 million, allocated as follows: RM1.9 million for the expansion of headquarters in Kajang, Selangor; RM5.0 million for tender bonds and/or performance bonds for future projects; RM18.7 million for the purchase of materials for BMS segment, and solar thermal systems and energy-saving services segment; RM12.7 million for working capital requirements; RM2.5 million for capital expenditure and RM4.3 million for payment of listing expenses.
Independent Non-Executive Chairman of Solar District Cooling Group Berhad, Ir. Dr. Khairul Azmy Bin Kamaluddin stated, “Today marks a pivotal milestone in Solar District Cooling Group Berhad’s journey. This successful listing on the ACE Market of Bursa Malaysia is a testament to the hard work and dedication of our team. We are excited to enter this new chapter, where we will continue to focus on advancing our Building Management Systems and solar thermal systems, enhancing energy efficiency, and promoting environmental stewardship.”
He also added, “With this listing, we are well-positioned to accelerate our expansion plans, particularly in solar photovoltaic offerings, and to strengthen our capacity to bid for larger and more complex projects. Our commitment to sustainability will guide us as we seize new opportunities and create lasting value for our shareholders and stakeholders.”
Mercury Securities Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter, and Placement Agent for this IPO exercise.
ABOUT SOLAR DISTRICT COOLING GROUP BERHAD
Solar District Cooling Group Berhad (SDCG) and its subsidiaries (the “Group”) is an established provider of building management systems (BMS) and solar thermal systems in Malaysia. The Group specialises in the design, installation, and maintenance of BMS and solar thermal systems, serving diverse sectors including commercial, institutional, and industrial properties. With a commitment to sustainability, SDCG has earned a reputation for excellence in BMS and solar thermal systems. For more information, visit www.sdc.my
Issued By: Swan Consultancy Sdn. Bhd. on behalf of Solar District Cooling Group Berhad
For more information, please contact:
Jazzmin Wan
Tel: +60 17-289 4110
Email: j.wan@swanconsultancy.biz
William Yeo
Tel: +60 16-213 2103
Email: w.yeo@swanconsultancy.biz
Topic: Press release summary
Source: Solar District Cooling Group Berhad
Sectors: Exchanges & Software, Daily Finance, Daily News, Alternative Energy, Local Biz
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