Samaiden Group Berhad (Samaiden) has signed a Business Collaboration Agreement (BCA) with Gruppe Lighting Solution Sdn Bhd to explore opportunities in solar street lighting and renewable energy solutions across Southeast Asia. Effective for three years starting June 26th, this agreement extends to smart city projects integrating solar streetlights with Internet of Things (IoT) capabilities.
The collaboration aims to expand Samaiden’s portfolio into advanced lighting solutions driven by solar energy, positioning the company to capitalize on sustainable urban infrastructure projects aligned with Malaysia’s green energy goals. With an outstanding order book of RM354 million as of March 2024, Samaiden anticipates substantial growth from its involvement in the Corporate Green Power Programme (CGPP) and upcoming solar energy initiatives.
RHB Investment Bank (RHB) maintains its BUY recommendation on Samaiden, emphasizing the company’s strategic expansion into renewable energy solutions and its potential for future order book growth through EPCC projects and Malaysia’s renewable energy initiatives.
