BIOENERGY-based Elridge Energy Holdings Bhd has re-affirmed to shareholders that its underlying business fundamentals, long-term growth strategy and operational momentum remain strong despite recent fluctuations in its share price
Responding to media queries, CEO Oliver Yeo said an internal review of the group’s operations and strategic expansion plans which continues to progress as scheduled indicates that the recent market movements are not linked to any undisclosed developments within the business.
“Based on our review of the Record of Depositors (ROD) analysis, part of the recent share price movement may be attributable to foreign fund outflows,” reckoned Yeo.
“However, it is important to note that share price fluctuations can be influenced by a variety of factors, including profit-taking after earlier gains, broader market sentiment and routine technical trading activities.”
“What is important for investors to understand is that there’ve been no changes to the group’s operational outlook, strategy or fundamentals. It remains BAU (business as usual) for Elridge Energy.”
Editor’s Note: Elridge Energy’s share price which has attained a historic high of RM1.52 on Feb 27 slid 32 sen or 24.8% on Friday (March 6) to 97 sen and a further 6.5 sen or 6.7% to 90.5 sen today (March 9) with 19.41 million shares traded with its market cap having shrunk to RM1.81 bil.
Growth strategy intact
Despite its share price downside, the group continues to make steady progress in expanding its renewable energy (RE) footprint across the region, according to Yeo.
“We recently marked an important milestone with the successful opening of its new biomass processing facility in Pahang,” he enthused.
“The commissioning of our Pahang plant represents an important milestone in strengthening our biomass supply chain and supporting our RE ambitions.”
Beyond that, Elridge Energy is also preparing for the opening of another facility in Johor in the near future which will further expand its operational capacity and reinforce its long-term strategy of building a robust regional biomass ecosystem.
“These developments demonstrate that our growth strategy continues to move forward as planned. We’re steadily building the infrastructure and partnerships necessary to support the region’s transition toward sustainable energy,” Yeo added.
Elridge Energy’s long-term strategy remains centred on developing a strong RE platform anchored by reliable biomass supply chains and regional partnerships.
On this note, Yeo pointed to demand for renewable and sustainable energy solutions across Asia which continues to grow, hence presenting significant opportunities for companies with strong supply capabilities and regional partnerships.
“The opportunities we’re pursuing, particularly in biomass supply and RE development across the region, remain highly compelling,” he envisages.
“Demand for sustainable energy solutions continues to grow and the management remains focused on executing our long-term strategy and delivering sustainable value creation for our shareholders while contributing to the region’s transition toward cleaner energy.” – March 9, 2026
