24/09/2025

BIZ & FINANCE WEDNESDAY | SEPT 24, 2025

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Ű BY JOHN GILBERT sunbiz@thesundaily.com

JS Solar eyes Sabah amid strong EPCC prospects

SHAH ALAM: The Selangor Creative Economy Strategy Action Plan was launched yesterday, as a guideline to drive the transformation of the state’s arts, culture and digital industry players, with a target of generating RM20 billion in returns by 2035. The action plan is expected to be tabled at the State Legislative Assembly sitting in November. State Youth, Sports and Entrepreneurship Committee chairman Mohd Najwan Halimi said the creative economy sector deserved greater attention as it had significant potential, having contributed RM20 billion to gross domestic product (GDP), according to a recent report by the Department of Statistics Malaysia. He said of the total, RM2 billion was contributed by creative industry players in Selangor. “Perhaps the figure is not very large, but it shows that the state has been able to contribute to the country’s GDP growth at the national level.” “This sector is no longer just about arts and culture, but also about creating high-value jobs, driving the economy, strengthening tourism and building a global identity for Selangor,” he said, at an engagement session held in PETALING JAYA: AirAsia will make a return to the Cebu hub to connect local communities across the Visayas and Mindanao to Asean and beyond through AirAsia Philippines. Starting Nov 15, AirAsia will reopen three domestic services, Cebu–Davao (18x weekly), Cebu-Caticlan (11x weekly) and Cebu-Iloilo (4x weekly). These will directly support the return of Cebu-Kuala Lumpur (14x weekly) and the launch of Cebu-Macao (3x weekly). AirAsia Aviation Group chief commercial KUALA LUMPUR: JS Solar Holding Bhd has strong confidence in its ability to secure key solar engineering, procurement, construction, and commissioning (EPCC) contracts in Sabah. This optimism follows the state’s imple mentation of Large Scale Solar initiatives (LSS1 and LSS2) aimed at accelerating the develop ment of renewable energy infrastructure in the state. With its proven track record and growing presence in the solar energy sector, JS Solar views the Sabah market as a promising growth area, and is well-positioned to play a pivotal role in advancing the state’s green energy ambitions. “Sabah currently offers significant oppor tunities under the LSS1 and LSS2 programmes, along with the government’s implementation of the self-consumption (SelCo) initiative for rooftop solar. “These efforts have opened up a market potential exceeding 300 MW in the state. That is why we are actively exploring the Sabah market – to capitalise on this growing demand and secure a substantial share,” JS Solar managing director Johnson Chai Jeun Sian told reporters after the company’s debut on the ACE Market of Bursa Malaysia yesterday. JS Solar’s share price opened at 40 sen, representing a premium of 29% over its issue price of 31 sen. It closed at 40 sen also, on volume of 72.537 million shares. Chai said while Sarawak remains on the company’s radar, JS Solar is currently placing greater emphasis on opportunities in Sabah. This strategic focus is driven by the absence of any recent policy announcements or new solar initiatives in Sarawak, in contrast to the more active developments seen in Sabah. JS Solar currently holds a market share of 14.3%.

conjunction with the Selangor Creative Economy Expo 2025, at the MBSA Convention Centre, here, yesterday. Mohd Najwan said the launch of the action plan was also in line with the call by Menteri Besar Datuk Seri Amirudin Shari to develop Selangor’s creative economy sector, as outlined in the state budget last year. At the same time, Mohd Najwan, who is also chairman of the Selangor Creative Economy Committee, said that various initiatives have been introduced to position Selangor as a ‘trendsetter’ in the creative economy sector, which has also been recognised in the 13th Malaysia Plan. “To achieve this, six key catalysts have been identified, namely talent development, digital empowerment, access to financing, infrastructure, market access and strong governance, supported by three main strategies, beginning with sustainable economic growth to drive innovation, entre preneurship and export opportunities,”he said. o Company makes debut on ACE Market, opens at 40 sen a share, premium of 29% over issue price of 31 sen With the recent rollout of government enhancements – particularly the newly intro duced Solar Atap (Solar Accelerated Transition Action Programme), the company anticipates a notable expansion of its market position as it capitalises on emerging opportunities in the renewable energy sector. JS Solar remains focused on delivering its core EPCC services while actively collaborating with its investors to participate in upcoming initiatives such as the LSS5 and LSS5+ projects. Looking ahead, JS Solar sees continued growth in market share, driven in part by the recent government announcement of Solar Atap. Chai said this initiative effectively opens the market entirely, allowing consumers to maximise rooftop solar installations based on their electricity consumption or savings potential – creating significant new oppor tunities for industry players.

including the successful completion of a small scale Battery Energy Storage System (BESS) project in Kulim Hi-Tech Park in Kedah. Looking ahead, the company sees promise in BESS as a growth area, although no formal contracts have been secured in that segment as of now. “Our diversification strategy is multi-faceted. We are ramping up our participation in large scale tenders, strengthening our sales and marketing teams, and closely monitoring emerging opportunities, like BESS. “While we remain focused on our core EPCC capabilities, we are actively laying the ground work to broaden our portfolio,” Chai said. Of the RM24.18 million raised from the IPO, JS Solar has allocated RM3.2 million (13.23%) for regulatory fees and renovation costs of the new head office, RM12.72 million (52.61%) for the repayment of bank borrowings, RM1.55 million (6.39%) for business expansion and marketing activities, RM2.52 million (10.40%) for working capital, and RM4.20 million (17.37%) for the defrayment of listing ex penses. TA Securities Holdings Bhd serves as the principal adviser, sponsor, underwriter and placement agent, while Eco Asia Capital Advisory Sdn Bhd serves as the financial adviser for the IPO.

“We are taking an aggressive approach in participating in tenders and project oppor tunities. To date, we have submitted tenders worth over RM500 million, and based on experience, we typically achieve a success rate of around 10%. “Currently, our major client is GSPARX Sdn Bhd, a wholly owned subsidiary of Tenaga Nasional Bhd. While we remain committed to strengthening our role as a strategic partner to GSPARX, we are also actively exploring opportunities to diversify our customer base moving forward,” Chai said. When asked about JS Solar’s strategy for diversifying its business, Chai said the company outlined several initiatives aimed at streng thening its market presence. These include participating more actively in large-scale tenders and expanding the sales and support team to meet growing demand – especially in light of newly introduced govern ment programmes. Additionally, JS Solar plans to enhance its sales and marketing efforts to capture a broader client base. While the company primarily focuses on EPCC services rather than owning or develop ing solar farms, it remains well positioned to capitalise on related project opportunities. JS Solar has already built a track record,

Selangor targets RM20 billion from creative economy by 2035

CGC and Public Bank launch RM700m portfolio guarantee to boost MSME financing KUALA LUMPUR: Credit Guarantee From left: CGC chairman Datuk Mohammed Hussein, Mohd Zamree, Tay and Public Bank deputy CEO Datuk Sulaiman Abd Manap at the launch of the RM700 million portfolio guarantee..

“The next strategy is inclusive participation, aimed at strengthening local talent and expanding access to creative platforms, followed by cultural heritage preservation to uphold Selangor’s unique identity, through conservation, tourism and public engagement,” he said. – Bernama AirAsia to return to Cebu hub in November

Facility and High Technology and Green Facility, which encourage MSMEs to embrace low carbon practices, invest in advanced tech nologies, and develop sustainable solutions. CGC president and CEO Datuk Mohd Zamree Mohd Ishak remarked, “The RM700 million portfolio guarantee is ultimately about impact – enabling MSMEs to scale up, to innovate, and to adapt to new frontiers of growth. This milestone is a testament to what can be achieved when two institutions work with shared purpose, creating the right conditions for MSMEs to prosper and for Malaysia’s economy to grow with them.” Public Bank managing director and CEO Tan Sri Dr Tay Ah Lek said,“MSMEs are central to Malaysia’s economy, and Public Bank is proud to continue our collaboration with CGC through this RM700 million portfolio gua rantee. “This reflects our long-term commitment to helping MSMEs strengthen their resilience and remain competitive.”

Corporation Malaysia Bhd (CGC) and Public Bank Bhd have launched a RM700 million portfolio guarantee (PG) facility to strengthen access to financing for Malaysia’s micro, small and medium enterprises. This facility forms the majority share of the RM1 billion PG jointly announced by CGC and Public Bank in September 2024 and is expected to directly benefit over 2,500 MSMEs nationwide. The RM700 million facility is structured across three tranches to meet diverse business needs. Through PG Property, MSMEs can secure property financing together with working capital of up to 200% of the property value, allowing MSMEs to acquire fixed assets while maintaining liquidity. PG Top Tier, meanwhile, caters to creditworthy MSMEs without collateral by offering clean, collateral-free financing that removes a common barrier to growth. Comple menting these is the Low Carbon Transition

officer, Amanda Woo said by linking domestic feeders from across the Visayas and Mindanao into international gateways like Macao and Kuala Lumpur, they are creating a stronger bridge between local communities and the wider region. AirAsia Philippines president and CEO, Captain Suresh Bangah said that this expansion is about more than connectivity, it is about encouraging local tourism, creating jobs, and supporting communities that depend on travel and trade.