Samaiden Group Berhad has announced the termination of a Memorandum of Understanding (MOU) entered into with several parties for the proposed development of renewable energy and sustainable development projects in Cambodia.
The company said its wholly-owned subsidiary, Samaiden Energy (Cambodia) Co., Ltd. (Samaiden Cambodia), had issued a 30-day notice of termination dated June 12, 2026, to Royal Group Co., Ltd. (RGC), Management Venture Asia (Cambodia) Ltd. (MVA) and Panna Energy Sdn. Bhd. (PANNA).
The termination relates to an MOU signed between Samaiden Cambodia, RGC, MVA and PANNA for the development of projects on unutilised land under the Royal Railway Concession in Cambodia.
The proposed project involved renewable energy development, sustainable economic initiatives and other potential programmes to be mutually agreed by the parties.
Samaiden said the decision was made after the parties failed to enter into a definitive agreement for the project within 12 months from the date of the MOU, while no significant milestones had been achieved to date.
“The termination of the MOU shall take effect on July 12, 2026, being the expiry date of the 30-day notice period stipulated under the MOU,” the company said in an exchange filing.
Despite the termination, Samaiden said the move is not expected to have any material impact on the earnings per share, net assets per share or gearing of the group for the financial year ending June 30, 2026.
The Board of Directors said it had considered all aspects of the termination and is of the view that the decision is in the best interest of the group.
