KUALA LUMPUR: Samaiden Group Bhd
's wholly-owned subsidiary Samaiden Capital Management Sdn Bhd and Chudenko (Malaysia) Sdn Bhd have entered into a shareholders agreement with their joint venture company, Samaiden Chudenko Renewables Sdn Bhd, to undertake a joint investment in solar photovoltaic (PV) facilities and related services.
In a filing with Bursa Malaysia, Samaiden said the agreement sets out the rights and obligations of each party to jointly undertake the project investments in the renewable energy industry and to regulate the affairs and rights of each shareholders.
Samaiden Capital has a 51% ownership of Samaiden Chudenko Renewables, while Chudenko owns the remaining 49%.
The group said the agreement is expected to contribute positively to its future earnings upon successfully implementing the solar PV related project.
