Latest news with #RM13.1mil
The Star
27-05-2025
- Business
- The Star
Samaiden to benefit from solar engineering projects
Analysts said the group's long-term growth remained intact. PETALING JAYA: Samaiden Group Bhd is expected to benefit from a surge in solar engineering opportunities amid Malaysia's push for a 70% renewable energy (RE) mix by 2050. Analysts said the group's long-term growth remained intact, despite short-term earnings hiccups linked to margin pressures and project timing. Samaiden's financial results for the nine months ended March 31, 2025 came in largely below expectations. RHB Research said the miss was due to softer margins amid ongoing progress of its corporate green power programme (CGPP) contracts. Kenanga Research similarly pointed to slower job execution and lower-than-expected margins in the CGPP, with the group's core net profit of RM13.1mil accounting for only 55% of its full-year forecast. Despite the earnings disappointment, research houses remained optimistic about Samaiden's prospects as large-scale solar (LSS) contract awards accelerate. RHB Ressearch highlighted that the group recently bagged its third engineering, procurement, construction and commissioning (EPCC) contract under LSS5 – a RM100.7mil project from GVU Fajar Timur Sdn Bhd for a 27.6MWac solar power plant in Kelantan. 'Including the award, the group has secured a total of 67.58MWac (worth RM254.3mil) in EPCC contracts under the LSS5,' it said. TA Research, taking into account recent wins, including the GVU job and a RM45mil award from Pax RE, estimated Samaiden's updated order book at RM588mil – a record high, representing 2.6 times the group's FY24 revenue. It noted that order book replenishment prospects are underpinned by an aggregate 4GW capacity under the LSS5 and LSS5+ auction cycle, which entail EPCC prospects of RM12bil to RM14bil. Kenanga Research added that Samaiden stood a strong chance to secure 10%, translating to RM500mil of the total photovoltaic system EPCC jobs under LSS5, valued at RM5bil. It expected a 'strong influx of job opportunities' with a deadline for LSS5 project completion by end-2026, alongside another 500MW quota under the net energy metering scheme. MIDF Research noted Samaiden was among the shortlisted bidders to develop a 99.99MW solar farm in Kelantan and it has inked a 21-year power purchase agreement with Tenaga Nasional Bhd . 'Samaiden is among the key beneficiaries of EPCC prospects under LSS5, other upcoming large-scale solar schemes, and the long-term RE growth potential from the National Energy Transition Roadmap,' it said. While TA Research and Kenanga Research had trimmed their target prices to RM1.38 and RM1.43, respectively, both retain 'buy' calls, citing strong fundamentals and RE tailwinds. RHB Research lowered its target price to RM1.44 but remained upbeat. 'We expect more positive news flow from the group in the near term – Samaiden targets at least 10% share of the available 2GW capacity,' it said. MIDF Research maintained its target price of RM1.59 and 'buy' rating on Samaiden.
The Star
09-05-2025
- Business
- The Star
Pentamaster names Hon Tuck Weng as new CEO
KUALA LUMPUR: Pentamaster Corp Bhd has appointed Hon Tuck Weng as its chief executive officer, effective May 9, 2025. Hon, 54, has more than 25 years of experience in automation solutions industry. In a filing with Bursa Malaysia, Pentamaster said Hon began his career with the group in March 1995 as a software programmer and has served as operations director since May 2007. He is responsible for overseeing the group's daily operations in management information systems, quality assurance and control, manufacturing facilities, as well as internal systems and control functions. He sits on the ESG committee as well as risk management committee of the group. Hon holds a qualification in Engineering Business Management from the University of Warwick, UK. In the first quarter ended March 31, the group's net profit fell 32.6% to RM13.1mil, or earnings per share of 1.84 sen compared with RM19.4mil, or 2.72 sen in the year-ago quarter. Its revenue fell 22.9% to RM131.6mil against RM170.8mil last year.
The Star
08-05-2025
- Business
- The Star
Pentamaster 1Q net profit drop 32.6% to RM13mil
KUALA LUMPUR: Pentamaster Corp Bhd saw a slower-than-anticipated order book replenishment, potentially weighing on near-term order conversion momentum, amid shifting global supply chain strategies by both technology clients and the group. The automation manufacturing and technology solutions provider noted that some of its customers have adopted a cautious, wait-and-see approach to investment and procurement decisions, amid ongoing macroeconomic uncertainty and heightened geopolitical tensions. 'This sentiment has led to some degree of deferment in order placements or replenishments, particularly in sectors that are sensitive to capital expenditure cycles. This challenging global trade environment was further exacerbated by the recent tariff measures announced by the US, which have intensified global trade tensions,' Pentamaster said in a filing with Bursa Malaysia. In the first quarter ended March 31, the group's net profit fell 32.6% to RM13.1mil, or earnings per share of 1.84 sen compared with RM19.4mil, or 2.72 sen in the year-ago quarter. Its revenue fell 22.9% to RM131.6mil against RM170.8mil last year. Pentamaster said the growing demand for high-performance semiconductors, AI-enabling hardware and software as well as electrification in automotive applications, continues to drive adoption of the group's automated test equipment (ATE) and factory automation solutions (FAS) offerings. The group has also adopted flexible supply chain strategies to navigate the ongoing global trade split. This approach has opened up new opportunities, especially with multinational manufacturers looking to relocate, expand, or diversify. 'This shift is expected to drive continued demand for the group's automation solutions across key industries,' Pentamaster said.
