Samaiden to undertake solar PV system construction for Malakoff at RM23m

KUALA LUMPUR (Aug 13): Samaiden Group Bhd said today that it has inked four contracts worth RM22.84 million with Malakoff Corp Bhd for the construction of rooftop solar photovoltaic systems.

The construction will take place in Malakoff’s facilities in Melaka, Kedah, Shah Alam and Pahang, said Samaiden in a filing.

The engineering, procurement, construction and commissioning (EPCC) contracts are payable with the progress payment schedule based on completion milestone of the respective projects, the group said.

This is the third set of contracts announced by Samaiden in the second half of 2021, after another EPCC contract for a proposed 10MWac solar power plant in Penang at RM46.4 million.

Shares of Samaiden fell 1 sen or 0.84% to close at RM1.18 today, valuing the group at RM247.8 million.