20/08/2026

THURSDAY | AUG 20, 2026

16

BIZ & FINANCE

Solarvest starts Fiscal Year 2027 on strong footing

BIZ & FINANCE

LAC Med financials poised to accelerate in H2 PETALING JAYA: MedTech solutions provider LAC Med Bhd is all set to convert its robust order book into sales and profits in the second half of 2026, driven by the healthcare sector’s typical procurement cycle of back-half weighted. In the second quarter ended June 30, 2026 (2Q26), the group’s financial performance accelerated with revenue rising 55.1% to RM45.6 million, compared to RM29.4 million in the preceding quarter (1Q26). Similarly, net profit in 2Q26 leaped five times to RM5.3 million, from RM1.0 million in 1Q26. Driving overall growth in 2Q26, all of the LAC Med’s business segments delivered solid quarter-on-quarter revenue expansion – supply and integration of medical devices grew 102.8% to RM21.7 million, supply of medical equipment rose 31.3% to RM15.1 million, and supply of related products & services increased 22.2% to RM8.8 million. Fuelling the group’s earnings ahead, its order book stood at RM246.9 million as at July 31, 2026, providing earnings visibility for the next three to four years. Group CEO Liew Yoon Poh said: “Throughout the first half of 2026, we actively expanded the market presence of our 11 brands – particularly the nine added since 2023, leveraging our two-decade track record to accelerate product adoption. As a result, we made headway not only in market penetration but also in financial performance. “We see further upside ahead in 2H26 as we prepare for more bidding opportunities and recognition of order book execution, tapping into the rising procurement activity across healthcare service providers. With an extensive portfolio of over 1,200 active SKUs, we are ready to meet this demand and drive revenue growth, outperforming our first half financials.” LAC Med’s tender book grew from RM690.9 million as at April 30, 2026 to RM769.8 million as at July 31, 2026, highlighting strong deal pipeline momentum as the group actively pursue public healthcare project bids. Meanwhile, LAC Med is striving for 20% of its total revenue to derive from recurring sources – driven by healthcare IT solutions, consumables, and repair & maintenance services – to enhance earnings visibility and strengthen profit margins. “The RM105.7 million in new contracts secured to date – for the supply and delivery of reagents with related items–through our newly onboarded principal highlights our clear traction in driving high-visibility recurring revenue. Beyond financials, this achievement reinforces LAC Med’s standing as a trusted partner and key enabler in advancing Malaysia’s healthcare sector,”Liew said. In the first half ended June 30, 2026 (1H26), revenue and net profit recorded RM75 million and RM6.3 million, repectively. By comparison, the revenue and net profit were higher at RM95.0 million and RM10.1 million, respectively, in the previous corresponding period (1H25). The better performance in 1H25 compared to 1H26 was also due to a one-off revenue adjustment of approximately RM6 million from the supply and integration of medical devices segment that was deferred from FY2024.

demand capacity, said Chong, adding that by 2030, Malaysia’s data centre power demand is projected to reach 7.7GW to 12.9GW. He said 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,” said Chong. The group has maintained a robust unbilled EPCC order book of RM2,371 million, which will be progressively recognised over the financial years ending March 31, 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,” Chong said.

o Clean energy firm delivers 20% YoY growth in net profit, maintains robust unbilled order book of RM2.4 billion

KUALA LUMPUR: Regional clean energy expert Solarvest Holdings Bhd 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 June 30, 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, SC chairman Datuk Mohammad Faiz Azmi said the initiative forms part of the bourse’s efforts to create more regional opportunities for Malaysian companies, particularly those seeking exposure to a wider pool of investors. He said cooperation between Malaysia and Hong Kong allows a prospectus for an initial public offering (IPO) issued and reviewed in Malaysia to be recognised in Hong Kong without the need for a separate prospectus. “We are looking at large non-listed companies in Malaysia and trying to target them by saying, ‘wouldn’t it be interesting if your IPO was also in Hong Kong at the same time?’ “So, if some of you are thinking about doing an IPO, you should be asking your advisers whether it is tactical to also have some of those shares listed in Hong Kong at the same time,”said Mohammad Faiz in his speech at the SC Penang Semicon Roadshow, titled “‘Powering SemiCons: Financing Your Next Breakthrough”, here yesterday. He noted that Hong Kong’s recognition of a Malaysian-reviewed prospectus also reflected confidence in the country’s capital market regulatory framework. Mohammad Faiz explained that the arrangement could reduce complexity and costs for companies compared with having to prepare separate prospectuses for the two markets. The initiative, he said, was also aligned with the Capital Market Masterplan’s focus on

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 CEO Datuk Davis Chong Chun Shiong 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

SC encourages unlisted firms to pursue dual listings in Malaysia, HK GEORGE TOWN: The Securities Commission Malaysia (SC) is identifying large unlisted Malaysian companies and encouraging them to consider dual listings in Malaysia and Hong Kong to broaden their access to international investors.

Mohammad Faiz delivers his opening address at the SC Penang Semicon Roadshow yesterday. – BERNAMAPIC

limitations, especially for companies requiring longer-term capital or funding for breakthrough innovation and projects with longer gestation periods. Companies could tap various financing avenues depending on their stage of growth, including equity crowdfunding, peer-to-peer financing, venture capital, the equity market and corporate bonds, said Mohammad Faiz. – Bernama

pursuing regional opportunities and helping Malaysian companies gain greater access to global investors. Mohammad Faiz also said Malaysian semiconductor companies should consider the capital market as a source of financing to support growth, particularly for investments in research and development, talent, equipment and technological capabilities. He said traditional bank financing had its