Samaiden Group Berhad today announced its second quarter (2QFY22) and first half financial results for the period ended 31 December 2021 (1HFY22).
Renewable energy (“RE”) and environment solutions provider’s revenue jumped 3.7-fold to RM29.5 million as compared
to RM8.0 million in the preceding year’s corresponding quarter (2QFY21). This is mainly attributed to more projects undertaken by Samaiden as compared to the same quarter prior year, following the relaxation of the Movement Control Order. Meanwhile,
profit after taxation attributable to owners of the company (Net Profit) grew 8.5% to RM2.3 million, against RM2.1 million in 2QFY21.
In 1HFY22, revenue surged 176.5% year-on-year (“YoY”) to RM53.2 million as compared to RM19.3 million in 1HFY21, while Net Profit climbed 38.7% to RM4.3 million versus RM3.1 million in the previous year’s corresponding period (”1HFY21”). The commendable financial performance for the period under review was due to an increase in number of projects and larger contract sum recognised from providing engineering, procurement construction and commissioning services (“EPCC”) in comparison with
1HFY21. EPCC services remained as the main driver, contributing more than 95% of Samaiden’s total revenue.
“Meanwhile, we are channeling our efforts in tender participation as more tender activities are coming on stream, especially in both Large Scale Solar and residential RE projects. We are pleased that our increased effort in tender participation thus far has turned fruitful as we clinched an aggregate contract value of RM243.0 million since the beginning of FY22. This includes a notable contract secured recently worth RM98.2 million from Ramatex Textiles Industrial Sdn Bhd for the development of rooftop solar photovoltaic (“PV”) systems for all its 6 factories in Johor. Altogether, these contract wins have elevated our current outstanding orderbook to RM363.0 million, which will contribute positively to Samaiden for the next three years,” Group Managing Director of Samaiden Group, Ir. Chow Pui Hee.
