KUALA LUMPUR: Samaiden Group Bhd
’s wholly-owned subsidiary, Samaiden SG Pte Ltd, has entered a joint venture and shareholders’ agreement with PT MCS Bina Energi (MCS) to establish a joint venture (JV) company in Indonesia.
In a statement, the renewable energy (RE) specialist said the JV represents a strategic move for the group as it aims to tap into the rapid RE market in Indonesia.
The collaboration leverages Samaiden’s technical expertise in EPCC services and MCS’s deep-rooted business network in Indonesia.
Samaiden said the JV company will undertake various RE initiatives, including the development of solar photovoltaic (PV) systems, power plants, and build-own-operate-transfer RE projects, alongside offering consulting services for RE.
The joint venture company will be established with an authorised capital of 10 billion rupiah (RM2.8mil). Samaiden will hold a 70% stake in the new entity, while MCS will own the remaining 30%.
Samaiden will provide technical advisory services, using its expertise in solar PV systems and renewable energy, while MCS will focus on finding local business opportunities and managing regulations in Indonesia.
“This joint venture is a significant milestone in our expansion strategy across Southeast Asia. Indonesia has a strong commitment to developing its RE infrastructure aligns perfectly with Samaiden’s vision of driving clean energy adoption across the region.
“We believe that this collaboration will further enhance our capacity to provide more RE solutions and contribute positively to both our financial performance and regional green energy transition,” group managing director IR Datuk Chow Pui Hee said.
As of June 30, Samaiden's strong order book of RM313.52mil , along with ongoing projects and recent partnerships, is expected to boost its performance in the coming years.
