Samaiden Group Berhad (Samaiden) recorded an revenue of RM170.80 million for the financial year ended 30 June 2023 (FY2023), compared with RM150.72 million in the preceding financial year, which represents a 13.32% increase. — the highest ever in the Company’s history.
Samaiden’s consistent acquisition of new contracts, contributing to an outstanding orderbook of RM372.8 million as of 30 June 2023, underlines the Group’s sustainable business growth. These contracts are expected to have a positive impact on the Group’s revenue and profit in the coming years.
The renewable energy (RE) specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power plants declared its first-ever interim single-tier dividend of 0.5 sen per share.
The Entitlement and Payment Dates are set for 22 September 2023 and 16 October 2023, respectively. This dividend will be reflected in the financials for the quarter ending 30 September 2023.
Samaiden Group Managing Director Ir. Chow Pui Hee expressed her perspective on the company’s prospects, “The strong government support for renewable energy and sustainability, exemplified by ambitious projects and policies like the National Energy Transition Roadmap (NETR) and the Bursa Carbon Exchange (BCX), dovetails perfectly with Samaiden’s vision and mission.”
“This synchronicity not only creates significant avenues for business growth but also paves the way for us to contribute actively to the country’s transition towards cleaner energy sources. With our current and newly acquired contracts, along with these ground-breaking national efforts, we are highly optimistic about the Group’s performance for the upcoming financial year ending 30 June 2024. These milestones underline Samaiden’s crucial role in Malaysia’s ambitious journey towards a more sustainable and greener future.”
As at 30 August 2023, Samaiden Group’s share price stands at RM1.25, representing a market capitalisation of RM508.1 million.
RHB Investment Bank Berhad has reiterated a BUY rating on Samaiden, raising the target price to RM1.55 from RM1.29 on 28 July 2023, signalling a 20% upside and showcasing confidence in the Company’s growth as a beneficiary of Malaysia’s strong local demand for solar energy.
