Samaiden completes transfer to Main Market

KUALA LUMPUR: Samaiden Group Bhd, which transferred its stock listing onto the Main Market of Bursa Malaysia, entered the lunch break at an intra-morning high of 99 sen a share, a three sen or 3.13% increase over the reference price.

In a statement, the renewable energy specialist, which was listed on the ACE Market on Oct 15, 2020, said it completed the transfer of its entire issued share capital and outstanding warrants to the Main Market with effect from 9am today (March 31, 2023).

“Samaiden’s transfer to the Main Market is testimony to the work that everyone in the company has put in and the resultant growth that we have witnessed.

“We intend to leverage on our Main Market listing status to expand our market presence supported by the track record of EPCC projects that we have completed while seeking opportunities based on our renewable energy expertise in photovoltaic systems and power plants to offer the services that businesses and organisations need, for more sustainable operations,” said Samaiden group managing director Chow Pui Hee.

In relation to the transfer of listing, Samaiden said it met the profit requirements under the SC’s Equity Guidelines where it achieved an audited consolidated profit after tax attributable to owners of the company (PAT) of RM32.59mil over the last four financial years and a PAT of RM11.93mil for the most recent financial year.

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