Founder Group Shares Slip 5% Despite Solar Project Contract Win

(RTTNews) - Founder Group Limited (FGL) shares declined 4.45 percent to $7.08, down $0.33, on Monday, even after the company announced it secured a new solar project contract in Malaysia.

The stock is currently trading at $7.08, compared with its previous close of $7.41. Shares opened at $7.25 and traded between $6.11 and $7.40 during the session on the Nasdaq. Trading volume reached about 1.09 million shares, significantly above the average volume of about 0.12 million shares.

Founder Group said it was awarded an Engineering, Procurement, Construction and Commissioning (EPCC) contract worth approximately RM16 million, about $4.14 million, for a 25.40 MW large-scale solar project under Malaysia's Corporate Green Power Programme. The project is expected to generate around 53,000 MWh of clean energy annually and offset roughly 35,000 tonnes of carbon emissions.

The stock has traded in a 52-week range of $6.11 to $155.00.