Samaiden expects satisfactory FY24 performance


Samaiden group managing director Chow Pui Hee

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

“The group’s total outstanding order book stood at RM350.7mil as at Sept 30 and is expected to contribute positively to the group’s revenue and profit over the next three years,” the renewable energy specialist said in a filing with Bursa Malaysia.

In the first quarter ended Sept 30 (1Q24), Samaidan posted a higher net profit of RM2.96mil, or earnings per share of 0.76 sen against RM2.44mil, or 0.63 sen in the same quarter a year prior.

Revenue for the period rose 13.2% to RM46.1mil from RM40.7mil last year.

Group Managing Chow Pui Hee said its 1Q24 results not only demonstrated its robust performance but also signal the strength of its strategic approach in the renewable energy sector.

She said the success in the corporate green power programme marked a significant milestone for the group, reinforcing its position as a key player in sustainable energy.

“With the Malaysian Government's unwavering commitment to initiatives like the National Energy Transition Roadmap (NETR), we are more confident than ever in our ability to drive innovative and impactful sustainable energy solutions across the region.

“These achievements, coupled with the strong endorsement from our shareholders at today’s annual general meeting, are a testament to our team's dedication and a clear indicator of the promising path that lies ahead for Samaiden."

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Samaiden , renewable energy

   

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