Samaiden discloses RM238 million value for LSS5+ solar contracts
The contracts cover construction work and solar component supplies for a 99.99MW plant, with commencement subject to a notice to proceed.
Samaiden Group Bhd disclosed on Oct 6 that two contracts awarded to its subsidiary for a Large Scale Solar 5+ (LSS5+) project have a value of RM238 million. The Bursa Malaysia filing followed an earlier announcement that withheld the amount because of confidentiality restrictions.
Wholly-owned Samaiden Sdn Bhd signed the agreements on Oct 2 with Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd (YTL Construction). One covers works and the other covers solar component supplies. YTL Construction, a unit of YTL Corporation Bhd, is the main contractor for the project.
The appointment covers engineering, construction, commissioning and component procurement for a solar photovoltaic plant with 99.99MW of alternating-current capacity. Samaiden said its responsibilities also include materials delivery, design, testing and completion. Work is to begin once a notice to proceed is issued. The Energy Commission approved the project under LSS5+ in September 2025.
Samaiden previously reported record earnings and revenue for FY2026, which ended on June 30, 2026. Net profit climbed 93.3% to RM39.07 million, compared with RM20.21 million a year earlier. Revenue increased 3.1% to RM364.5 million from RM353.47 million. At end-June, its order book was RM435.8 million.
The shares closed on Oct 6 at RM3.12 after declining seven sen or 2.19%, giving Samaiden a market value of RM1.75 billion. The stock's year-to-date gain stood at 124.5%.
