Business Context and Reporting Period
Company: Founder Group Limited
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Reporting Period: September 2026 (Event date: September 2, 2026; Filing date: September 21, 2026)
Principal Executive Office: Klang, Selangor Darul Ehsan, Malaysia
Key Financial Metrics
This filing does not contain standard financial statements (revenue, profit, cash flow, margins, debt, or liquidity). The document reports a specific corporate action involving equity issuance and compensation valuation:
- Total Award Value: RM52,500,000 (approximately US$13,011,000)
- Shares Issued: 755,137 Class B ordinary shares
- Recipient 1 (Mr. Lee Seng Chi): RM30,000,000 (US$7,435,000) for 431,515 shares
- Recipient 2 (Mr. Thien Chiet Chai): RM22,500,000 (US$5,576,000) for 323,622 shares
Material Changes
The primary material change is the issuance of 755,137 Class B ordinary shares to the Chairman/CEO and a Director as special one-time performance-based awards. These shares were issued and allotted on September 3, 2026.
Guidance, Outlook, and Conditions
Vesting Conditions: The Class B Shares are subject to a strict performance vesting condition. Awardees must cumulatively secure future contract value of not less than RM1,500,000,000 (RM1.5 billion) for the Company and its subsidiaries within five years from the award date.
Restrictions:
- Awardees cannot sell, transfer, or dispose of unvested shares.
- Unvested shares cannot be converted into Class A ordinary shares.
- The Company retains the right to redeem unvested shares for nil consideration if the RM1.5 billion contract value target is not met.
Management Commentary: The awards are intended to recognize contributions and serve as a long-term incentive to support future growth objectives.
Investor Verification Checklist
- Verify the current share count and dilution impact of the 755,137 new Class B shares.
- Monitor the Company's progress toward the RM1.5 billion future contract value target over the next five years.
- Review the terms of the Class B shares regarding voting rights and conversion privileges compared to Class A shares.
- Confirm the exchange rate used for the USD conversion (RM30M/US$7.435M implies approx. 4.035 MYR/USD).