Hong Leong Bank inks MoUs with Samaiden Group and Solarvest for solar PV scheme

KUALA LUMPUR (Feb 22): Hong Leong Bank Bhd (HLB) today entered into two collaborations relating to its solar photovoltaic (PV) financing programme.

In two separate filings today, Samaiden Group Bhd and Solarvest Holdings Bhd said they had both separately inked memorandums of understanding (MoUs) with HLB to be service providers, and to enable accessibility to financing of solar businesses across Malaysia through HLB’s solar photovoltaic financing programme.

Both companies will act as designers and installers of the solar system.

Samaiden and Solarvest noted that the respective contracts will be in effect for two years, and may be renewed every two years with notice from HLB.

Both groups also said the MoUs will contribute positively towards their future financial performances.

At the time of writing today, shares in HLB were six sen or 0.34% lower at RM17.72, valuing the group at RM38.4 billion.

Shares in Samaiden, meanwhile, had risen two sen or 1.12% to RM1.81, giving it a market capitalisation of RM380.1 million, while Solarvest dropped 0.97% or 24 sen to RM2.46, with a market value of RM1.05 billion.