Latest news with #SamaidenGroupBhd
New Straits Times
26-05-2025
- Business
- New Straits Times
Samaiden wins RM45mil solar EPCC contract in Kedah
KUALA LUMPUR: Samaiden Group Bhd has bagged a RM45 million contract to carry out engineering, procurement, construction and commissioning (EPCC) works for a large-scale solar photovoltaic (LSSPV) power plant in Kulim, Kedah. The contract was awarded to its subsidiary, Samaiden Sdn Bhd, by PAXS Renewables Sdn Bhd, the group said in a filing with Bursa Malaysia today. It said the scope includes the full design, engineering, procurement, construction, testing and commissioning of the 9.99 megawatt alternating current (MWac) facility. "The project, approved by the Energy Commission in December 2024 under the Large Scale Solar 5 (LSS5) programme, reflects Samaiden's growing presence in Malaysia's utility-scale solar segment," it said. Samaiden group managing director Datuk Chow Pui Hee said the win under LSS5 reinforces the group's position as a trusted solar EPCC partner. "It also reaffirms our commitment to supporting the government's renewable energy agenda while creating long-term value through consistent execution and sustainable earnings contributions," she said. The project will begin immediately from the May 19, 2025, letter of award date, with on-site works to commence following the issuance of a formal notice to proceed, pending fulfilment of all contractual conditions. The plant is expected to achieve commercial operation by July 12, 2027.
The Star
26-05-2025
- Business
- The Star
Samaiden unit bags RM100.75mil contract for Kelantan solar plant
KUALA LUMPUR: Samaiden Group Bhd's wholly-owned subsidiary Samaiden Sdn Bhd (SSB) has bagged RM100.75 million engineering, procurement, construction, and commissioning (EPCC) works of a 27.60 megawatt (MWac) large-scale solar photovoltaic (LSSPV) power plant located in Pasir Mas, Kelantan from GVU Fajar Timur Sdn Bhd. In a filing with Bursa Malaysia, Samaiden said the project is one of the LSSPV projects approved by Suruhanjaya Tenaga in December 2024 under its large-scale solar 5 (LSS5) programme. It said the project commenced today on the signing of the letter of award (LOA), with on-site works expected to begin once all contractual conditions precedent have been fulfilled and the notice to proceed issued by GVU. The facility is targeted to be commercially operational by July 24, 2027. In a separate statement, Samaiden group managing director Datuk Chow Pui Hee said the award reinforces the company's presence in Malaysia's solar infrastructure space and underscores its commitment to driving the nation's transition towards a low-carbon energy future. "This award demonstrates our ability to continually deliver high-impact renewable energy infrastructure while contributing to Malaysia's clean energy ambitions. "Our technical expertise, proven execution capabilities, and focus on sustainability continue to position us as a preferred EPCC partner in the region,' she said. The LOA is expected to contribute positively towards the future earnings of the group during the contract's duration, it added. - Bernama
New Straits Times
20-05-2025
- Business
- New Straits Times
Samaiden lands RM45mil solar project in Kulim
KUALA LUMPUR: Samaiden Group Bhd's unit, Samaiden Sdn Bhd (SSB), has secured a RM45 million contract from PAXS Renewables Sdn Bhd to carry out large-scale solar photovoltaic (LSSPV) works in Kulim, Kedah. In a filing with Bursa Malaysia, the group said the contract involves providing engineering, procurement, construction, and commissioning (EPCC) services for a 9.99 megawatt alternating current (MWac) LSSPV power plant. The scope of work includes the full design, engineering, procurement, construction, testing, and commissioning of the solar facility. "The project is one of the LSSPV projects approved by the Energy Commission in December 2024 pursuant to Large Scale Solar 5 (LSS5) programme," it added. Samaiden said the project will begin immediately following the contract signing on May 19, while on-site work will start once a formal notice to proceed is issued, contingent on the fulfilment of all required contractual conditions. "SSB shall complete all the works to achieve the commercial operation date which shall be on July 12, 2027," it said. Samaiden noted that the project is anticipated to have a positive impact on the group's future earnings over the course of the contract. Group managing director Datuk Ir Chow Pui Hee said the LSS5 contract award reinforces Samaiden's position as a reliable and established solar EPCC provider in Malaysia. "It reinforces our commitment to supporting the government's renewable energy agenda while building long-term value through consistent project execution and sustainable earnings contributions," she added. At midday, Samaiden's share price had climbed 1.82 per cent, gaining 2 sen to reach RM1.12 from its previous closing price of RM1.10, with a total of 149,200 shares changing hands.
The Star
20-05-2025
- Business
- The Star
Solar growth continues to spur Samaiden
PETALING JAYA: Analysts continue to like clean-energy company Samaiden Group Bhd as it is as one of the prime beneficiaries of an upcycle in renewable energy (RE), underpinned by a solid order book. TA Research also noted that it has a strong net cash position and has secured a pipeline of RE assets to boost recurring income. 'From a valuation standpoint, Samaiden is trading at undemanding 17 times its financial year ending June 30, 2026 (FY26) price-earnings ratio, below its historical mean of 20 times,' said TA Research, which maintained its 'buy' call on the company. Samaiden recently announced that it had secured a RM108.6mil contract to undertake the design, engineering, procurement, construction, testing and commissioning (EPCC) of a 29.99 megawatt alternating current (MWac) large scale solar power plant in the central region of Peninsular Malaysia. The project is targeted for completion by Jan 15, 2026. 'The contract value of RM108.6mil translates into RM3.6mil per MWac, which in our opinion, is an attractive price relative to other recent utility-scale solar power plant EPCC contracts while also taking into consideration record-low solar module prices currently.' 'Given a targeted commissioning by next January, we reckon the bulk of the contract will be recognised in the first half of FY26,' the research house said. Additionally, it noted that Samaiden also announced the mutual termination of a prior EPCC contract for a 10MW biomass power plant in Terengganu. The project has been long delayed since its award in November 2020 given hiccups in securing funding on the part of the developer. The contract was originally valued at RM115.6mil. On a net basis, taking into consideration both the latest large scale solar power plant contract win and biomass power plant contract termination, TA Research said it estimated a 1.4% reduction to Samaiden's order book to RM509mil from RM516mil as of end-December 2024, before taking into account order book burn-rate in the third quarter of FY25. 'We now estimate over 80% of Samaiden's order book comprises utility-scale solar contracts with the rest consisting of rooftop solar and operations and maintenance contracts.' TA Research said it had trimmed its FY25-FY27 earnings estimates for Samaiden by between 4.5% and 8.3% as it omits previously projected contribution from the terminated biomass project. It maintained its 'buy' call on the company at a revised target price of RM1.56 from RM1.63 previously.
The Star
19-05-2025
- Business
- The Star
Trading ideas: Samaiden, Gamuda, Hextar Capital, Pekat, Magma, ACME, MRCB, Avillion, EG, Paradigm REIT, Maxis, CSC, PIE
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Samaiden Group Bhd has secured a RM108.6mn contract to carry out engineering, procurement, construction and commissioning works for the development of a large-scale solar photovoltaic project. Gamuda Bhd via its wholly-owned subsidiary Gamuda Land (T12) Sdn Bhd has proposed to acquire three parcels of land measuring about 336 acres for RM248.7mn for development as an extension of its 1,530-acre Gamuda Cove township. An associate company of Hextar Capital Bhd has secured a RM427.5mn contract by Tenaga Nasional Bhd for the establishment of a transmission main intake 500/275kV gas insulated substation in Gurun East, Kedah. Pekat Group Bhd 's indirect 60%-owned unit, EPE Switchgear (M) Sdn Bhd, has secured a RM135.2mn contract from Tenaga Nasional Bhd to undertake the supply, installation, testing and commissioning of 33kV and 11kV gas insulated switchgear and related equipment for TNB's electricity distribution network. Magma Group Bhd via its wholly-owned subsidiary Magma Chain Management Sdn Bhd, is setting up a joint venture company with beverage retailer Chagee (M) Sdn Bhd to operate and grow the Chagee business in Malaysia. ACME Holdings Bhd is selling its property in Perai, Penang to Nation Robo Sdn Bhd for RM22mn cash. Malaysian Resources Corp Bhd has secured a contract to develop the Kompleks Sukan Shah Alam worth RM2.9bn. Avillion Bhd , 21.8%-owned by Datuk Dani Abdul Daim, son of the late Tun Daim Zainuddin, plans to raise RM11.5mn through a private placement of 283mn new shares to refurbish one of its main hotels, Avillion Port Dickson. EG Industries Bhd has secured a deal from a US-based firm to supply consumable network and AI-related products for the global market. Main Market-bound Paradigm Real Estate Investment Trust aims to raise RM560mn from its IPO. Maxis Bhd reported a 5.1% increase in net profit to RM371mn for 1QFY25 due to lower net finance costs compared to RM353mn in the same quarter last year. CSC Steel Holdings Bhd posted a 44.2% YoY jump in net profit to RM12.6mn in 1QFY25, from RM8.7mn a year ago, thanks to lower raw material costs. PIE Industrial Bhd 's net profit for 1QFY25 jumped 54.8% to RM15mn from RM9.7mn, thanks to higher demand from its existing customers and lower provision for slow-moving inventories.
