Foreword from CEO

Foreword from CEO

HNG Capital celebrates 45 years in business in year 2021, marking our Sapphire anniversary. We have witnessed a lot of changes in the past 45 years, both within our own company and throughout the direct response industries. Going forward, HNG Capital will not rest on its laurels but will continue to expand its renewable energy assets in the ASEAN region. At the same time, the Group is championing all its businesses in enhancing and sustaining the very essence of living - today and for generations to come.

All these changes and achievements over the last 45 years were made possible through unwavering efforts. As a result, HNG Capital is recognised in the market as a trusted and professional company.

We couldn’t have done it without you, nor can we take the next steps without your support. To all our employees, stakeholders, business partners, vendors, suppliers, bankers, family and friends, both past and present, we thank you for 45 remarkable years of warmth, friendship and support. We seek your continued support as we carry on working towards our goals. We are also well prepared in making sure that we overcome this global health crisis in good shape.

On behalf of the company, the executive team, and all the employees of HNG Capital, we wish you bountiful blessings of good health, prosperity and success.


A Commemoration Of Milestone Achievements

  • 1976

    The founding of the Group began with Leader Cable Industry Berhad, a cable and wire manufacturing company in Sungai Petani, Kedah

  • 1988

    The Group undertook a merger and reverse takeover exercise which involved the then listed Universal Cable (M) Berhad. This led to the eventual formation and listing of Leader Universal Holdings Berhad (LEADER Group) on the Bursa Malaysia Securities Berhad.

  • 1994

    Cambodia Utilities Pte Ltd proudly conferred with the Group’s first Independent Power Producer (IPP) project in Cambodia with an 18-year Power Purchase Agreement (PPA) concession. The 37.1MW (35MW nett) Build-Own-Transfer “BOT” diesel generation plant is located in Phnom Penh, Cambodia

  • 2004

    Dato’ Sean H’ng Chun Hsiang was appointed as the Group CEO, leading the Group's venture into the four core businesses which are Power, Metal, Hospitality and Property.

  • 2009

    Cambodian Energy Ltd (CEL) is the Group’s second IPP project in Cambodia with a 30-year PPA concession. The 120MW gross installed capacity Build-Own-Operate “BOO” coal-fired power plant is located in Steung Hav, Sihanoukville province. It was built to comply with World Bank-IFC environmental standards and was successfully commissioned in 2013.

  • 2010

    Cambodian Transmission Ltd (CTL) was conferred with a 110km 230kV transmission line in Cambodia with a 25-year PPA concession. The transmission line connects 230/115/22kV North Phnom Penh substation with 115/22kV Kampong Cham substation. It was successfully built and put into commercial operation in August 2013.

  • 2011

    Capital Sdn Bhd was incorporated to undertake the privatisation of Leader Universal Holdings Berhad (LEADER Group).

  • 2012

    The privatisation exercise of LEADER Group was completed in May 2012.


    Its first hotel in Malaysia, Macalister Mansion was launched in April 2021 with 8 rooms, dining and bar after a 20-month of restoration work on the century-old colonial heritage building in Penang.

  • 2013

    CEL & CTL both achieved commercial operation in 2013.

  • 2014

    The Group disposed the investment holdings in Leader Cable Industry Berhad and Universal Cable (M) Berhad, repositioning itself as a Power player and expanding its renewable energy portfolio.

  • 2016

    This was the most eventful year owing to the following achievements:


    Leader Energy, the Group’s Power division acquired a 70% interest in Leader Nam Tien Hydropower Joint Stock Company (LNTH) which owns a portfolio of five run-of-river hydropower stations in Lao Cai Province, Vietnam. The gross-installed power generation capacity of the portfolio is 51.7MW.


    Housed within the historical CHIJMES in Singapore, the 40-seat fine-dining Whitegrass restaurant was established

    The year also marked another successful acquisition of a four-star hotel in Malaysia known as The Northam All Suite, Penang. It is currently under full renovation and rebranding works, expecting to complete and commence the operation towards Q1 of 2024

  • 2017

    The Group was subsequently awarded its second solar power plant, Leader Solar Energy II (LSE II) with a 21-year BOO concession for a 29.4MWp photovoltaic power generation facility in Kedah, Malaysia. LSE II achieved commercial operation in the year 2018.

    Followed by the success of CEL, Cambodian Energy Limited II (CEL II) took on another 30-year BOO concession from EDC for a 150MW gross coal-fired power plant. It was put into commercial operation in April 2020. Both plants are located adjacent to each other in Sihanoukville, Cambodia, sharing common facilities such as the coal receiving jetty.

    A new and exciting green energy was added into the portfolio with its first solar power plant, Leader Solar Energy (LSE) which successfully secured a 38MWp photovoltaic power generation facility in Kedah, Malaysia. It is the first large-scaled ground-mounted solar farm in Malaysia with a 21-year BOO concession.

  • 2018

    The Group entered into a Share Purchase Agreement for the disposal of Leader Universal Aluminium Sdn Bhd (LUA).

    Leader Solar Energy Sdn Bhd (LSE) was officially put into commercial operation in 2018.

    The Group was subsequently awarded its second solar power plant, Leader Solar Energy II (LSE II) with a 21-year BOO concession for a 29.4MWp photovoltaic power generation facility in Kedah, Malaysia. LSE II achieved commercial operation in the year 2020.

  • 2020

    Despite the challenges presented by the global health crisis, the company held on tight to its business goals and made notable achievements as follows:

    • CEL II and LSE II both were successfully put into commercial operation in 2020.
    • The Group acquired the first-ever project finance deal in Cambodia with Mizuho Bank and ING Bank for the Cambodian Transmission Limited (CTL) project, which is also backed by World Bank Group’s Multilateral Investment Guarantee Agency (MIGA).
    • Launched the ASEAN Green Sustainable and Responsible Investment (SRI) Sukuk of RM260 million for the Malaysian solar projects. The Sukuk was assigned an AA-IS rating by MARC, as well as accorded a “Gold” sustainability bond rating.
    • A wholly-owned subsidiary, Leader Energy (Vietnam) Pte. Ltd., Leader Energy entered into a convertible bond subscription agreement for a joint-equity investment of the 330MWp Phu My 1 – 3 solar power developments with local Vietnamese power developers, Clean Energy Vision Joint Stock Company JSC and Bamboo Capital Group Energy JSC. It is Leader Energy’s first foray into the rapidly growing solar power segment in Vietnam. The company successfully commissioned a total of 216MWp by the end of December 2020. The construction of balance of 114MWp has completed and is pending COD.

  • 2021

    Leader Energy leapt into a new market in Taiwan, marking its first step outside of Southeast Asia and partnered up with GUH Utilities Holdings Berhad, which is a wholly-owned subsidiary of GUH Holdings Berhad, with 60% equity interest in Leader GUH Renewable Energy Sdn Bhd (“LGRESB”).

    The joint venture was consolidated in March 2021 with the birth of LGRESB. LGRESB is currently undertaking the Yabisi (雅比斯) 90MWp floating solar projects in Tainan and San Ding (三鼎) 4.3MWp various small-scale ground and rooftop solar projects across Taiwan.

    Leader Energy successfully acquired LYS Energy in September 2021 to further expand its footprint in rooftop solar into the region of Southeast Asia.


From HNG Capital's inception to success after success, this video captures our passion for what we do and our pride in our accomplishments.

HNG Capital’s more than four decades of presence and continuous advancement is dotted with a number of milestones. Strategic management, collaborative team spirit and steadfast dedication to quality have got us this far and will take us to greater heights.


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