Samaiden cautiously optimistic on FY24 performance

Samaiden group managing director Chow Pui Hee

PETALING JAYA: Samaiden Group Bhd is cautiously optimistic that the group’s performance will remain satisfactory in the current financial year ending June 30, 2024 (FY24).

“The group’s total outstanding orderbook stood at RM372.8mil as at June 30, 2023 and is expected to contribute positively to the group’s revenue and profit over the next three years,” the renewable energy (RE) specialist said in a filing with Bursa Malaysia.

Samaiden said the prospects for the renewable energy sector remain optimistic, buoyed by the support and commitments from the Government.

Group managing director Chow Pui Hee said: "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,” she said in a statement.

Samaiden posted a net profit of RM3.1mil, or earnings per share of 0.81 sen in the fourth quarter ended June 30 against RM3.4mil, or 0.92 sen a year ago.

Revenue was 15.7% lower at RM45.2mil from RM53.7mil.

For FY23, it posted a net profit RM10mil on revenue of RM170.8mil.

Samaiden has declared its first-ever interim tax-exempt dividend of 0.5 sen per share.

The entitlement and payment dates are set for Sept 22 and Oct 16, 2023, respectively. This dividend will be reflected in the financials for the quarter ending Sept 30.

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