Solarvest Posts Record FY25, Targets RM2 Billion Orderbook Amid Clean Energy Boom
Solarvest Holdings Bhd has capped off its third consecutive record-breaking financial year with an impressive set of results for the fiscal year ended March 31, 2025 (FY25), solidifying its position as a regional leader in the clean energy sector.
The group posted a revenue of RM536.8 million, up 8% year-on-year (YoY) from RM497 million in FY24. More notably, its gross profit surged by 50.8% YoY to RM149.5 million, supported by stronger margins of 27.9% (up from 20% last year). This sharp rise in profitability translated into a 59.2% jump in net profit, which reached RM51.9 million, delivering consistent margin expansion over the past three years.
'This is more than just a strong financial performance, it's validation of our strategic direction and resilience in an evolving energy market.
'We are confident in scaling past a RM2 billion orderbook in FY26, as demand accelerates across the Corporate Green Power Programme (CGPP), Battery Energy Storage Systems and the upcoming LSS6 tender,' Solarvest Executive Director and Group Chief Executive Officer Davis Chong Chun Shiong said.
He shared that as of March 31, 2025, Solarvest holds an unbilled orderbook of RM1.24 billion, which will be progressively recognised through FY26 and FY27.
'The momentum is just beginning,' said Chong. 'With the upcoming LSS5+ and LSS6 tenders and a potential rise in electricity tariffs this July, project feasibility under the Corporate Renewable Energy Supply Scheme is improving. That opens new doors for us to accelerate adoption in both utility-scale and commercial & industrial (C&I) segments,' Chong said, adding that the C&I segment alone is expected to generate around RM200 million in new projects annually, underscoring steady demand from corporates looking to decarbonise operations.
Looking ahead, Solarvest is preparing for the launch of the Community Renewable Energy Aggregation Mechanism, a game-changing framework that will allow energy companies to generate electricity from rooftop solar systems and sell it directly to both commercial and residential users. This is expected to unlock a new frontier of decentralised, consumer-focused energy solutions. Related
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Borneo Post
27-05-2025
- Borneo Post
MyKiosk units in Tabuan Jaya remain vacant, says Chong
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The Star
26-05-2025
- The Star
THE ASEAN POWER GRID: UNLOCKING ASEAN'S NET-ZERO POTENTIAL
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It is about building trust, interdependence and a shared commitment to Asean's sustainable future. For Asean to rise as a climate-resilient economic bloc, governments, industries and communities must sit at the same table as collaborators for the delivery of the APG. About Solarvest Holdings Bhd Solarvest is a regional clean energy infrastructure developer, with presence across eight Asia-Pacific countries, including Malaysia ('HQ'), Singapore, Vietnam, Taiwan, Indonesia, Thailand, Brunei, and the Philippines. Recognised for its leadership in the solar industry, Solarvest has expanded its expertise to support clean energy transformation, offering a comprehensive suite of advanced solutions including Energy Storage, Energy Efficiency, Renewable Energy Certificates, and more. To date, Solarvest has developed more than 2,000 MWp of projects across the region. Solarvest is listed on the Main Market of Bursa Malaysia. For more information, log on to
The Star
25-05-2025
- The Star
Teluk Intan shipyard transformed into corporate office through adaptive reuse
Located along the banks of the Perak River in Teluk Intan – a little town known for its leaning clock tower and shipbuilding heritage – is a remarkable story of transformation. What was once an abandoned shipyard has been reborn as a vibrant and sustainable corporate headquarters. This is the story of the Intan Project, an ambitious adaptive reuse initiative led by architects Sin Ho and Kenny Chong of A3 Projects. Architects Chong (left) and Ho were given a freehand by the client to design and build The Intan Project. Photo: The Star/Glenn Guan More than just another office building, the Intan Project is an expression of renewal: a structure that reflects not only the surrounding landscape but also the memory of the place it occupies, says Chong. When project discussions first began in 2019, the future of the 1.3ha riverfront property was uncertain. The client had acquired the abandoned shipyard and approached Chong and Ho for the project. But instead of providing a concrete brief, he gave the architects something far more liberating: trust and creative freedom. 'He just told us he had this plot of land and asked us what could be done with it,' Chong recalls. 'Then he gave us a freehand to propose the design and build, as long as we kept within the budget.' When the Covid-19 pandemic hit Malaysia in 2020, the project was temporarily shelved. But once the country entered the endemic phase, the idea of giving new life to the abandoned shipyard was renewed, and construction resumed. A beautiful reflection of the building's exterior after the rain. Photo: A3 Projects/Arch Cubica Architects (Malaysia) At its heart, the Intan Project is a shining example of adaptive reuse, which refers to the practice of repurposing old buildings for new functions instead of demolishing them and constructing from scratch. 'The purpose is to extend the lifespan of a building, preserve its architectural and cultural significance, and promote sustainability by reducing waste and conserving resources. 'As architects, we're trained to build new buildings. But this is more challenging, and more meaningful,' says Chong. 'We're taking the existing and adapting it by adding the new.' The shipyard shed, with its weathered steel frame and industrial legacy, was preserved and reinforced. Rather than removing the old roof, the architects built the new office structure beneath it. 'Working with the tropical Malaysian climate, we created this 'double roof' that offers both shade and insulation from the elements,' explains Ho. 'The shed acts as a protective shell. It keeps the heat from the sun and noise from heavy rains or wind at bay,' she adds. 'There is airflow between the shed roof and the building roof, so it has a cooling effect and saves on air-conditioning in the common areas. 'We replaced the rusted old metal sheets on the roof with new ones, but added roof skylights or 'roof lights' to bring in natural light and save electricity,' she says. Chong highlights that even the original building's structure was derived from a repurposing effort. 'The metal structures of the shipyard were originally from another disused factory. 'So, what you see now is a kind of triple reuse: a building built within a reused shipyard shed, which itself was assembled from repurposed materials,' he explains. The land was also reinforced with sustainability in mind. Due to its location next to the river, a major part of the project included strengthening the land to prevent erosion because the water level may increase due to global warming, explains Chong. Instead of conventional timber, coconut chunk piling was used for riverbank strengthening work because it is not just stronger but also cost-effective, he adds. Additionally, what makes the Intan Project unique is its theme of reflections – literally and symbolically – which appear throughout the design. 'The facade uses a curtain walling system, incorporating reflective materials like glass and steel to create a neat, perfect reflection. 'It reflects the past, what it is now in the present, and what it will be in the future. 'It's a reminder that this isn't a totally new building; it prompts us to remember our roots and where we came from,' Ho explains. Inside the central courtyard is a water feature that doubles as a 'mirror' for its surroundings, creating a serene ambience where nature and architecture converge. The inner courtyard, showing the red 'jewel box' structure which is the boardroom. Photo: A3 Projects/Arch Cubica Architects (Malaysia) The boardroom, at the heart of the structure, is like a glass box. 'It's placed like a jewel in the middle of the water feature,' says Ho. 'It's transparent, surrounded by water, and open to the sky. You feel like you're working in nature.' From the outside, the building's earthy red and muted greys hint at its industrial heritage. Inside, the tones shift subtly throughout the day, thanks to natural lighting. The choice of colours – red, gold, brown and green – echoes values important to the client: growth, prosperity, stability and life, with grey adding balance and neutrality. Employees who work there aren't just treated to riverside views and lush courtyards; they're part of something larger, a workplace that respects its setting, its past and its people. 'We've had staff come up to us to say 'thank you',' Ho smiles. 'They told us it's such a beautiful place to work in. That really means a lot.' The auspicious red entrance leading to the corporate office. Photo: A3 Projects/Arch Cubica Architects (Malaysia) Adaptive reuse isn't just about buildings, it's also about communities. In a town like Teluk Intan, where development can sometimes mean displacing history, the Intan Project stands as a counterpoint. It reinvests in local identity while bringing economic and cultural value to the area. 'We hope the project brings life and prosperity to Teluk Intan,' says Chong. 'It's about respecting the town's history and helping it evolve. Although the main office is complete, the story isn't over. The project was designed with expansion in mind. Two of the three rows of pavilions are occupied by the corporate office but one is currently still vacant. Plans are underway to convert that space into a community pickleball court. 'Pickleball is a great bridge between generations,' Ho notes. 'It's affordable and fun, and since we already have the shed structure, we just need to refurbish the ground, mark the courts and put up the fencing.' Red metal frames, neutral grey walls and greenery are part of the project's colour palette. Photo: A3 Projects/Arch Cubica Architects (Malaysia) In this modern day and age, the Intan Project offers a compelling alternative to traditional build-from-scratch developments. It shows that we don't always need to build anew. 'Sometimes, the most innovative architecture is that which listens to the land, to history, and to the people who live and work within its spaces. 'From a disused shipyard to a corporate haven, from rusted beams to reflected skies, the Intan Project isn't just about architecture; it's about memories, transformation and hope. 'Above all, it's a reminder that the most powerful buildings are the ones that reflect not just sunlight – but the soul,' concludes Ho.
