Samaiden group managing director Datuk Chow Pui Hee.
PETALING JAYA: Samaiden Group Bhd is set to expand its presence in Indonesia’s renewable energy (RE) market through a joint venture (JV) with PT MCS Bina Energi (MCS).
The partnership, via its wholly owned subsidiary Samaiden SG Pte Ltd, will form a JV company with an authorised capital of 10 billion rupiah (RM2.8mil).
According to a filing with Bursa Malaysia, Samaiden will hold a 70% stake in the new entity, while MCS will own the remaining 30%.
“The capital injection into the JV will be carried out progressively based on cash flow requirements,” Samaiden noted.
The JV company aims to undertake engineering, procurement, construction, and commissioning projects, as well as invest in solar photovoltaic systems, power plants, and other RE infrastructure in Indonesia.
Additionally, it will provide RE and environmental consulting services, operate and maintain facilities, and engage in build-own-operate-transfer RE projects in the country.
Samaiden SG will contribute technical knowledge and advisory expertise to the JV, while MCS will leverage its network to identify business opportunities in Indonesia.
Although the JV company has not been incorporated yet, Samaiden noted that the agreement allows it to expand its geographical reach into Indonesia, utilising MCS’s established presence in the country since 2024.
Samaiden group managing director Datuk Chow Pui Hee said this JV is a significant milestone in its expansion strategy across South-East Asia.
She said Indonesia’s strong commitment to developing its RE infrastructure aligns perfectly with Samaiden’s vision of driving clean energy adoption across the region.
“We believe this collaboration will enhance our capacity to provide more RE solutions and contribute positively to both our financial performance and the regional green energy transition.”
MCS, a limited liability company incorporated in Indonesia in 2024, focuses on sectors including basic infrastructure, RE, and mineral resources. It is closely associated with Bintang Timur Investama, an investment firm with a diverse portfolio spanning multiple sectors.
