KUALA LUMPUR: Samaiden Group Bhd’s growth prospects are boosted by government initiatives such as the Corporate Green Power Programme (CGPP), the launch of the fifth large-scale solar (LSS) programme, and the Green Electricity Tariff (GET) programme.
“As Malaysia targets a 70% renewable energy mix by 2050, Samaiden is strategically positioned to lead and support this ambitious transformation. Our continued growth, driven by these supportive policies, highlights our unwavering commitment to advancing Malaysia’s sustainable energy landscape,” group managing director Chow Pui Hee said in a statement.
In the third quarter ended March 31, Samaiden’s net profit rose to RM4.1mil from RM1.9mil in the same period last year.
The renewable energy (RE) specialist saw its revenue jump 68.3% to RM75mil from RM44.6mil in the corresponding quarter last year, driven mainly by the higher progress of ongoing projects.
For the first nine months to March 31, Samaiden posted a higher net profit and revenue of RM10.2mil and RM169.9mil respectively.
Looking forward, Samaiden’s strategic positioning is further strengthened by Malaysia’s comprehensive RE initiatives and a strong emphasis on environmental, social, and governance (ESG) principles.
Samaiden said the introduction of the ESG Reporting Platform by Bursa Malaysia exemplifies the government’s active promotion of ESG, creating a conducive environment for the group’s growth and the group’s crucial role in advancing Malaysia’s RE landscape.
As of March 31, the total orderbook of Samaiden stood at RM354.3mil, which is expected to positively contribute to the group over the next three years.