SCHEDULE: Reservoir Link Energy Takes 23.16% Stake in Founder Group

Reservoir Link Energy Bhd has disclosed a significant 23.16% beneficial ownership stake in Founder Group Ltd, comprising both Class A and Class B shares.

Summary

• Reservoir Link Energy Bhd, a publicly traded company on Bursa Malaysia, has filed a Schedule 13G disclosing its beneficial ownership in Founder Group Ltd.
• The reporting person beneficially owns an aggregate of 7,650,000 shares of Founder Group Ltd.
• This ownership consists of 5,650,000 Class A Shares and 2,000,000 Class B Shares.
• Class B Shares are convertible into Class A Shares on a one-for-one basis.
• Each Class A Share carries one vote, while each Class B Share carries twenty votes.
• The beneficial ownership represents 23.16% of Founder Group Ltd's Class A Shares, calculated on an as-converted basis assuming all Class B Shares are converted.
• The total number of shares on such an as-converted basis was 33,033,700 as of December 31, 2025.
• Reservoir Link Energy Bhd holds sole voting power and sole dispositive power over all 7,650,000 beneficially owned shares.

Sentiment

Score: 7

Explanation: The disclosure of a significant beneficial ownership stake by a publicly traded company generally indicates a positive strategic move or vote of confidence, suggesting potential future value or collaboration. However, it is a factual disclosure rather than a performance report, so the sentiment is moderately positive for the issuer due to the implied endorsement and for the reporting person for making a strategic investment.

Positives

• Reservoir Link Energy Bhd's significant stake of 23.16% in Founder Group Ltd could be interpreted as a strong vote of confidence in Founder Group's future prospects and strategic direction.
• The investment by a publicly traded company like Reservoir Link Energy Bhd may signal potential strategic alignment or collaboration opportunities between the two entities.
• The substantial ownership provides Reservoir Link Energy Bhd with significant influence over Founder Group Ltd's corporate decisions, particularly given the 20-to-1 voting power of Class B shares.

Negatives

• A large concentration of ownership by a single entity like Reservoir Link Energy Bhd could potentially reduce the liquidity of Founder Group Ltd's shares in the market.
• The significant voting power associated with the Class B shares held by Reservoir Link Energy Bhd (20 votes per share) could lead to concerns about minority shareholder influence and corporate governance balance.

Risks

• The investment exposes Reservoir Link Energy Bhd to the market risks and operational performance of Founder Group Ltd.
• Potential conflicts of interest could arise between Reservoir Link Energy Bhd's strategic objectives and the interests of other Founder Group Ltd shareholders.
• The valuation of the investment is subject to the performance and market perception of Founder Group Ltd's Class A shares.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding the financial performance or strategic outlook of Founder Group Ltd or Reservoir Link Energy Bhd.

Management Comments

• "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct." Thien Chiet Chai, Executive Deputy Chairman of Reservoir Link Energy Bhd.

Industry Context

This disclosure indicates a significant strategic investment by Reservoir Link Energy Bhd, an energy services company, into Founder Group Ltd. Such a substantial stake (over 20%) often suggests either a strategic partnership, a long-term investment, or a potential precursor to further corporate actions, potentially diversifying Reservoir Link Energy Bhd's portfolio or strengthening its position in related sectors. For Founder Group Ltd, it means a major shareholder with significant influence, which could impact its future direction and operations.

Stakeholder Impact

• Shareholders of Founder Group Ltd: The entry of a significant shareholder like Reservoir Link Energy Bhd could influence the company's strategic direction and potentially its share price. The concentration of voting power with Class B shares may dilute the influence of other shareholders.
• Shareholders of Reservoir Link Energy Bhd: This investment represents a significant allocation of capital, and its success will impact Reservoir Link Energy Bhd's overall financial performance and shareholder returns.
• Management of Founder Group Ltd: The new significant shareholder will likely have a strong voice in corporate governance and strategic decisions, potentially leading to changes in management's operational autonomy.

Key Dates

Keywords

Beneficial Ownership, Schedule 13G, Founder Group Ltd, Reservoir Link Energy Bhd, Class A Shares, Class B Shares, Equity Stake, SEC Filing, Corporate Governance, Investment