Northern Solar Holdings Berhad has completed the transfer of its shares from the ACE Market to the Main Market of Bursa Malaysia Securities Berhad, effective from 9:00 a.m. The company will continue trading under the stock short name “NORTHERN” and stock code 0340.
The transfer was completed around 20 months after Northern Solar was listed on the ACE Market on February 6, 2025. The move follows approval from the Securities Commission Malaysia (SC), which was announced on August 28, 2026. Northern Solar had initially announced its intention to transfer to the Main Market on March 25, 2026, before submitting its application to the SC on March 30, 2026.
Lew Shoong Kai, Managing Director of Northern Solar Holdings Berhad, said the transfer represents the next stage of the company’s development since its listing. He added that Northern Solar has strengthened its operating track record while expanding its capabilities beyond its core solar engineering, procurement, construction and commissioning (EPCC) business.
The company said its business strategy will remain focused on leveraging its technical and execution capabilities while maintaining disciplined project execution and prudent capital management.
Northern Solar reported revenue of RM38.2 million for the first quarter ended June 30, 2026 (1QFY2027), an increase of 36.1% compared with RM28.0 million in the corresponding period. Profit attributable to owners of the parent stood at RM3.97 million, compared with RM3.85 million previously.
As of June 30, 2026, the company had an unbilled order book of RM189.3 million and a tender book valued at RM2.23 billion. The company said these provide project visibility across its key business segments.
Northern Solar has also expanded into utility-scale solar projects. In March 2026, the company secured a RM119.38 million award related to the Large Scale Solar 5 (LSS5) programme. The project is currently under delivery, with revenue expected to be recognized across financial years 2027 and 2028.
The company continues to operate in commercial and industrial (C&I) and residential solar markets while developing capabilities in battery energy storage systems (BESS). Northern Solar expects demand for integrated solar and energy storage solutions to increase as Malaysia continues its energy transition.
The Group maintained a healthy financial position as of June 30, 2026, with cash and bank balances of RM44.5 million and total equity of RM87.3 million.
Going forward, Northern Solar plans to secure additional EPCC contracts, execute its existing order book, expand its renewable energy asset portfolio and pursue opportunities emerging from Malaysia’s energy transition.
The company expects its Main Market listing to strengthen its corporate profile and improve its visibility within Malaysia’s capital market.
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