Samaiden Group Berhad: Recent Developments in Renewable Energy Projects

Samaiden Group Berhad, a Malaysian company specializing in offshore wind power generation, has recently been in the news due to developments in its renewable energy projects. Established in 2007, Samaiden has been actively involved in constructing wind turbines for offshore environments, aligning with its mission to provide sustainable energy solutions while minimizing environmental impacts.

Termination of Biomass Power Plant Project

On May 16, 2025, Samaiden Group Bhd announced the mutual termination of its letter of award (LOA) with BTM Resources Bhd for a 10-megawatt (MW) biomass power plant project. This decision followed BTM Resources’ earlier announcement of canceling the project due to the withdrawal of banking facilities. The project, valued at RM115.6 million, was to be constructed in Teluk Kalong, Terengganu, by Samaiden Sdn Bhd. Samaiden stated that the termination complies with all provisions of the LOA and is not expected to have a material financial impact on the company.

Securing a Large-Scale Solar Project

In a positive development, Samaiden Group Bhd secured a RM108.6 million contract for engineering, procurement, construction, and commissioning (EPCC) works related to a large-scale solar photovoltaic (LSSPV) project. The project, with a capacity of 29.99 MWac, is located in the central region of Peninsular Malaysia. The client, referred to as ‘Company A,’ has not consented to disclosure of its identity. Samaiden is expected to complete the project by January 15, 2026. This contract win has expanded Samaiden’s order book to RM624.3 million, up from RM515.7 million as of early March 2025. Following this announcement, shares of Samaiden rose.

Financial Overview

As of May 14, 2025, Samaiden Group Berhad’s close price was 1.11 MYR, with a 52-week high of 1.42 MYR and a low of 0.91 MYR. The company’s market capitalization stands at 497,430,000 MYR, and it has a price-to-earnings ratio of 27.63. These financial metrics reflect the company’s current market position and investor sentiment.

Samaiden’s recent activities highlight its ongoing commitment to expanding its portfolio in renewable energy projects, despite the setback with the biomass power plant. The successful acquisition of the solar project contract underscores the company’s expertise and potential for growth in the renewable energy sector.