Solarvest Aims to Pave the Path to Carbon Neutral Future
As the 2021 fiscal year nears its end in Malayasia the Solarvest Holdings Berhad group has rounded it off with all-time high profits while weathering the COVID19 pandemic. The annual general meeting with all of its shareholders has concluded on September 30th, at which all resolutions were approved.
The company delivered an all-time high net profit of RM16.1 million (3.8 Million USD) and as of September 1st, 2021 the company had a record-breaking unfilled order book of RM560 Million (133 Million USD).
The company is looking to further increase their growth, investments and involvement in driving Malayasia towards its goal of becoming carbon neutral by 2050.
A circular economy’s goal is to create an economic environment where raw materials avoid the typical linear life cycle, but are instead reused or repurposed.
“Our growth prospects remain intact, and the outlook ahead is promising underpinned by the recent Twelfth Malaysia Plan (12MP) where sustainability was tabled as one of the key recovery themes. This will further drive demand for solar energy as renewable energy source is a key pillar to achieve a sustainable ecosystem.” said Group Chief Executive Officer of Solarvest, Mr. Davis Chong Chun Shiong (张俊雄), “Solarvest is well poised to play a significant role in advancing the adoption of solar energy and contribute to the growth of green economy that will propel the country towards a carbon-neutral nation.”
The company will be implementing plans to expand their portfolio via solar generation and solar investments. Already Solarvest has invested in an LSS development (Large Scale Solar), Mr. Shiong continued “Our goal is to grow the contribution of our solar assets portfolio to represent one-third of our total revenue in five years. This will allow us to generate recurring revenue stream that improves our earnings visibility and long-term sustainability.”
The company has launched the “Powervest” financing program to reduce the financial barrier private and public consumers face when attempting to transition to renewable solutions. The program gives consumers two options, Powerflex and Powerlease, allowing them to choose to finance or lease their products and services.
This program hopes to increase the rate of businesses converting to solar energy solutions. Mr. Shiong concluded, “All in all, Solarvest remains steadfast in delivering a sustainable growth trajectory that creates value to our shareholders and stakeholders.”