KUALA LUMPUR (Oct 6): Renewable energy solutions provider Samaiden Group Bhd (KL:SAMAIDEN) said its contracts to undertake works for a 99.99-megawatt (MW) Large Scale Solar 5+ (LSS5+) project are worth RM238 million.
The group disclosed the contract value in a Bursa Malaysia filing on Tuesday, four days after announcing the contracts without revealing their value due to confidentiality restrictions.
Samaiden's wholly-owned subsidiary Samaiden Sdn Bhd had on Oct 2 entered into a works contract and a contract for the supply of solar components with Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd (YTL Construction), the construction unit of YTL Corporation Bhd (KL:YTL).
YTL Construction, which is the project's main contractor, appointed Samaiden to undertake engineering, construction and commissioning works, as well as the procurement and supply of solar components for the 99.99MW alternating-current solar photovoltaic plant.
The project is among the LSS5+ projects approved by the Energy Commission in September 2025.
Samaiden said the scope of works includes the supply and delivery of materials, design, engineering, construction, testing and completion of the solar photovoltaic facility, with work to commence upon the issuance of a notice to proceed.
The group had earlier posted record annual earnings and revenue for the financial year ended June 30, 2026 (FY2026), its strongest performance since listing in 2020.
Net profit for FY2026 surged 93.3% to RM39.07 million from RM20.21 million a year earlier, while revenue rose 3.1% to RM364.5 million from RM353.47 million.
The group's order book stood at RM435.8 million as at end-June.
Samaiden shares fell seven sen or 2.19% to close at RM3.12 on Tuesday, valuing the group at RM1.75 billion. Year to date, however, the counter is up 124.5%.