Samaiden Group Renewable Energy
Kuala Lumpur, June 27, 2024 – Samaiden Group Bhd has announced a three-year Business Collaboration Agreement (BCA) with Gruppe Lighting Solution to advance renewable energy initiatives. This marks Samaiden’s inaugural venture into the lighting industry, focusing on solar street lighting and smart city projects.
The collaboration will see both companies working together to develop and implement comprehensive solar street lighting systems, integrating Internet of Things (IoT) capabilities to improve energy management and urban services. This initiative aligns with Malaysia’s renewable energy goals by targeting the reduction of carbon emissions and promoting green solutions in urban environments.
Gruppe Lighting Solution, established in 1987 in Malaysia, is a lighting specialist with extensive expertise in various sectors, including public lighting, port and airport lighting, industrial and commercial lighting, sports lighting, architectural lighting, and solar lighting. The company is known for its one-stop solutions from design to delivery and boasts an in-house photometric test laboratory to meet stringent technical requirements. Gruppe has successfully delivered notable projects such as the Hong Kong Stadium, Marina Bay Sands in Singapore, MRT Line 2 Tunnel, and PNB Tunnel in Kuala Lumpur.
Analysts from Apex sees this collaboration as a significant milestone in entering the lighting industry. By leveraging Gruppe’s expertise, Samaiden aims to enhance its technological offerings, particularly in Battery Energy Storage Systems (BESS), thus boosting its competitive edge in providing comprehensive solutions.
Despite the long-term strategic alignment, Samaiden has kept its earnings forecast unchanged, expecting no immediate impact on its projected figures. The company maintains a BUY recommendation with an unchanged target price of RM1.66, based on Sum-of-Parts (SOP) valuation.
However, potential risks include fluctuations in solar module costs, heavy reliance on government initiatives, and low barriers to entry in the industry.
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