Category: Engineering

SCIB and Bintai Kinden in Strategic Alliance

  • Company to form partnership using existing subsidiary to explore opportunities, new projects and profit-sharing

Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company had on 6 February 2023 signed a Memorandum of Understanding (MoU) with Bintai Kinden Corporation Berhad to establish a strategic alliance for exploring of business opportunities, securing of new projects and sharing of profits.

Group Managing Director of SCIB, Encik Rosland bin Othman
Executive Director of SCIB, Mr. Ku Chong Hong
Executive Director of Bintai Kinden, En. Azri Azerai

The MoU is a preliminary step the parties are taking as they explore a working relationship and cooperation to combine skills, expertise, capabilities, experience and collectively bid for projects in Malaysia and to set out the principal terms of the arrangement between the parties.

The JV vehicle to be used is SCIB’s wholly-owned subsidiary, SCIB Infraworks Sdn. Bhd in which SCIB will retain a 51% stake in the JV while Bintai Kinden will subscribe to the remaining 49%. Bintai Kinden is a mechanical and electrical (“M&E”) engineering services specialist listed on the Main Market of Bursa Malaysia, with unique combination of extensive regional experience and local knowledge.

Group Managing Director of SCIB, Encik Rosland bin Othman said, “We welcome this strategic alliance with Bintai Kinden as both parties can leverage each other’s strengths and expertise that add value to any projects we are involved in together. SCIB’s manufacturing arm, the leading precast concrete and Industrialised Building System products manufacturer in East Malaysia, is already supporting our construction arm in projects throughout the country.”

“Our focus on small-to-mid-sized construction healthcare, educational and utility facilities as well as rural infrastructure projects together with investment in technology such as 3D printing and automation are also strengths that we can leverage on for the future JV projects.”

Executive Director of SCIB, Mr. Ku Chong Hong said, “This JV brings together two teams with core expertise and knowledge in construction and engineering that will give an edge to projects undertaken together. We expect to see more infrastructure projects in the pipeline as Malaysia’s construction sector gains momentum on the back of economic growth.”

Executive Director of Bintai Kinden, En. Azri Azerai said, “We look forward to a fruitful partnership with SCIB as we seek opportunities together across the country. Bintai Kinden’s core expertise is M&E services, and as a multi-disciplined building and industrial service engineers and specialists, we work in all the major market sectors, from commercial buildings to industrial complexes. We design, install and commission systems that include the full range of engineering services which we believe can complement the JV.”

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/
Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my

WEGE Secures Project to Construct Coordinating Ministry for Maritime and Investment Affairs Office Complex at IKN

PT Wijaya Karya Bangunan Gedung Tbk (WEGE) has secured another project at the new capital city (Ibu Kota Negara, IKN) in East Kalimantan to construct the office complex for the Coordinating Ministry for Maritime and Investment Affairs (Kementerian Koordinator Kemaritiman dan Investasi, Kemenkomarves). The project was valued at Rp745 billion. WEGE has previously secured a project to construct modular buildings to house construction workers at IKN, and its progress has reached 94%.

A highlight of the eight storey Kemenkomarves office is it features integrated Smart and Green Building concept.

Another highlight is that the construction of the Kemenkomarves Office will implement Building Information Modelling (BIM) technology. The Kemenkomarves Office is located at Sepaku, Penajam Paser Utara and will not be far from the IKN Presidential Office.

WEGE’s scope of work in this project is design-build construction with a completion period of 660 working days. The Kemenkomarves office complex will cover an area of 24,274 square metres.

WEGE Carries Out Groundbreaking of BMKG State College that Applies Smart and Green Building Concept

WEGE held a groundbreaking ceremony of the Lecture and Laboratory Building (Centre of Excellence) for the departments of Meteorology, Climatology, Geophysics, and Instrumentation (MKGI) of the State College of Meteorology Climatology and Geophysics (STMKG) in Tangerang.

The groundbreaking ceremony was held on Monday (24/01) and attended by the Head of Meteorological, Climatological, and Geophysical Agency (BMKG), Dwikorita Karnawati; Head of STMKG, I Nyoman Sukanta; representative of the Tangerang City Government; President Director of WEGE, Hadian Pramudita; Director of QHSE and Marketing, Yulianto; and Director of Operations I, Bagus Tri Setyana.

“We hope that through Smart and Green Building concept, BMKG is contributing to reducing and controlling CO2 emissions,” said the Head of BMKG, Dwikorita Karnawati in her speech.

WEGE was trusted by BMKG to construct the MKGI Lecture and Laboratory Building (Centre of Excellence) located at Jalan Meteorologi No. 5, Tanah Tinggi, Tangerang, Banten.

This modern campus with the Smart and Green Building concept is scheduled for completion in 350 calendar days or at the end of 2023. Construction of this BMKG state college implemented level 5D of BIM technology to support the acceleration, construction accuracy, and safety and security factors.

WEGE’s scope of work in this project includes planning, preparation, structural work, architectural work, mechanical, electrical & plumbing (MEP) work, and landscaping.

This STMKG facility will be 39 metres high, consisting of eight floors and one basement level with a total building area of 31,540 square metres.

In addition to constructing a lecture building, there will be an MKGI Laboratory (Centre of Excellence) which targets the Excellent category in Green Building Certification.

This is one of BMKG’s mega projects in training experts to support BMKG’s duty in providing information on meteorology, climatology, geophysics, and air quality to the Indonesian people.

PT Wijaya Karya Bangunan Gedung Tbk [IDX: WEGE]

Contact:
Purba Yudha Tama
Corporate Secretary
PT Wijaya Karya Bangunan Gedung Tbk.
Mobile: 0813 1792 5577
Phone: +6221 85908862 / 85909003
Email: corsec@wikagedung.co.id

ACROMETA Group Appoints Veteran Investor Mr. Levin Lee as Executive Chairman

  • Wealth of experience and enviable investing track record
  • Sees high potential in ACROMETA’s controlled environments engineering business
  • Aims to let investors better understand ACROMETA’s business and optimize its market value

ACROMETA Group Limited [SGX: 1CH1] today announced that with effect from 30 January 2023, it has appointed Mr Levin Lee Keng Weng as Executive Chairman and Director of the Board. Mr Lee brings with him a wealth of experience in business and an enviable track record in investing.

On the appointment of Levin as Executive Chairman, ACROMETA Chief Executive Officer and Executive Director Mr Lim Say Chin said, “Levin’s experience, business network and financial resources will be beneficial to ACROMETA as we advance to capture growth opportunities in our controlled environments engineering business. He has an enviable track record in helping companies strategize to be future-ready and bring about optimization of their market valuation.”

Mr Levin Lee said, “SMEs in Singapore with good potential are often neglected by investors who do not understand their business. As a result, such small caps are often overlooked and thus hampered in their operations through a lack of financial resources and a good business strategy. My role is not only to help ACROMETA in its business strategy and financials, but also to let the investing public understand the company’s business and potential. The controlled environments engineering business is truly a future-ready business as the R&D and production processes of many industries in the future economy such as biotechnology, semi-conductors and renewable energy take place in controlled environments.”

The appointment of Mr Lee as Executive Chairman is in accordance with corporate governance best practice that the post of Chief Executive Officer should be separate from that of Chairman of the Board.

Note on ACROMETA’s Controlled Environments Engineering Business
ACROMEC Engineers Pte Ltd (ACROMEC) a wholly owned subsidiary of ACOMETA is one of the few companies in Singapore established in the field of Controlled Environments Engineering (CEE) where it designs and constructs facilities for companies that require a controlled physical environment for their production and processes. The ability to control physical variables such as temperature, air purity, humidity, and pressure in the product manufacturing space is a mission-critical requirement for new economy industries such as semiconductors, biotechnology and renewable energy. Examples of CCE include Semiconductor wafer fab production, biotechnology R&D laboratories, and animal-manure-to- energy pyrolysis chamber.

About ACROMETA Group Limited (SGX Stock Code: 1CH1)
ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments. The Group has over the years acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.

ACROMETA’s business is divided into two main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical and process works within controlled environments; and (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure.

The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA counts amongst its customers, hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies. The company has been listed on the Catalist board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.

Media and Analysts Contact:
ACROMETA Limited
Mr Jerry Tan
Chief Financial Officer
Tel: +65 6415 0574
Email: jerry.tan@acromec.com

Waterbrooks Consultants Pte Ltd
Mr Wayne Koo
Tel: +65 6958 8008 / +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg
Email: query@waterbrooks.com.sg

This media release has been reviewed by the Company’s sponsor Evolve Capital Advisory Private Limited. (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”) and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document. The contact person for the Sponsor is Mr Chua Hiang Hwee Jerry, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com

SCIB Enforces Rights to Withdraw from Project

  • Company to be reimbursed commitment fee paid out for the project following mutual agreement

Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company has issued a letter of withdrawal to Kencana Healthcare Sdn. Bhd. (KHSB) for the proposed engineering, procurement, construction and commissioning (EPCC) contracts involving a specialist hospital project located in Johor Bahru.

Group MD and CEO of SCIB, Encik Rosland bin Othman

SCIB had accepted a letter of award from KHSB dated 13 August 2021 for EPCC contracts involving the capital equipment procurement as well as the leasing concession for the procurement, supply, installation, testing and commissioning of medical equipment. SCIB and KHSB have mutually agreed to the Company withdrawing from the project.

As part of the withdrawal from the project, KHSB will reimburse under a settlement agreement, the commitment fee amounting to RM1.65 million that SCIB had paid out in two tranches. The withdrawal from the contracts will not have any material effect on the gearing, earnings per share and net assets of the Company for the financial year ending 30 June 2023.

Group Managing Director of SCIB, Encik Rosland bin Othman said, “The Company is enforcing its rights under the contracts and taking the necessary measures to protect SCIB’s interests in mitigating the risks arising from the long delay or non-movement of project progress due to the uncertainties and inability to secure the necessary operator for the project. Additionally, this decision was made due to reviewing and updating our order book records to reflect the current situation.”

Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my

Aneka Jaringan Posts Revenue of RM53 Million in 1Q FY2023

Aneka Jaringan Holdings Berhad (Bursa: ANEKA, 0226), a basement and foundation construction specialist, today announced that the Group recorded a 26.92% gain in revenue to RM52.85 million for the first quarter ended 30 November 2022 (1Q FYE2023) compared with RM41.64 million in the corresponding quarter of the previous financial year (1Q FYE2022).

Managing Director of Aneka Jaringan, Pang Tse Fui

In the quarter under review, the Group registered a narrower loss after tax (LAT) of RM4.62 million compared with LAT of RM5.41 million in 1Q FYE2022. Gross loss decreased to RM0.95 million in 1Q FYE2023 compared with gross loss of RM2.88 million in 1Q FYE2022 on a decline in material costs.

Managing Director of Aneka Jaringan, Pang Tse Fui said, “The Group continues to assess and monitor risks while selectively tendering for projects. We have secured RM52 million in contracts in FYE2023 and we are also increasing capacity in Indonesia to leverage on the country’s growing infrastructure needs while monitoring developments on the new Indonesian capital of Nusantara in which we believe would present us a lot of opportunities.”

“Although we have seen material prices stabilized, it remains a concern along with energy and labour costs. China’s relaxation of its zero-COVID policy and the reopening of its economy may mean volatile material prices as demand grows. To lower labour costs, the Group will be replacing its outsourced workers with newly recruited foreign workers as we have been granted a government quota of 150 workers.”

Aneka Jaringan has an order book of RM145.73 million as of 31 October 2022, with Malaysian operations contributing RM138.97 million and Indonesian operations contributing RM6.76 million.

As of 31 October 2022, the Group’s tender book stood at RM969.45 million, with tenders in Malaysia valued at RM873.85 million and tenders in Indonesia valued at RM95.60 million.

Aneka Jaringan Holdings Berhad: 226 [BURSA: ANEKA], http://www.anekajaringan.com/

SCIB Proposes Private Placement to Raise Up to RM10.98 Million

Company to use gross proceeds for working capital, repayment of bank borrowings and estimated placement expenses

Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) is proposing a private placement to raise gross proceeds of up to approximately RM10.98 million for working capital, repayment of bank borrowings and estimated expenses for the proposed private placement.

Group MD and CEO of SCIB, Encik Rosland bin Othman

While the issue price and the actual number of shares to be issued will be determined later, under the maximum scenario in which all the Company’s 245.18 million outstanding warrants are exercised, the proposed private placement will entail the issuance of up to 82.72 million placement shares at an indicative price of RM0.1327 per placement share to raise gross proceeds of up to approximately RM10.98 million. Under the minimum scenario, should none of the outstanding warrants be exercised, then gross proceeds raised will be RM7.72 million.

The proposed issuance represents not more than 10% of the issued shares as at the latest practicable date (LPD) of 30 December 2022 while the indicative price per share represents a discount of approximately 9.97% to the five-day volume weighted average market price of SCIB shares up to the LPD of RM0.1474. The proposed private placement may be implemented in several tranches within six months of approval from Bursa Securities Malaysia Berhad or any extended period approved by it until the conclusion of the next AGM.

The proposed private placement is undertaken in accordance with the approval obtained from the shareholders of the Company at the 46th AGM convened on 8 December 2022.

Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my

Minetech Awarded RM36.71 Million Mini-Hydro Project

  • Company to build 3MW mini-hydro power plant located at Sungai Pelagat, Besut, Terengganu

Minetech Resources Berhad, a civil engineering specialist and bituminous products manufacturer today announced that the Company’s wholly-owned subsidiary, Techmile Resources Sdn Bhd (TRSB), has accepted a letter of award (LOA) from Tesdec Hydropower Sdn Bhd for the engineering, procurement, construction and commissioning (EPCC) of a 3MW mini-hydro power plant at Sungai Pelagat, Besut, Terengganu valued at RM36.71 million.

The project, which is expected to commence in January 2023, followed by construction in 2025, is expected to be completed by May 2027, comes under the Sustainable Energy Development Authority’s (SEDA) feed-in-tariff (FiT) programme in which businesses or individuals that hold SEDA’s feed-in approval certificate can sell RE at the FiT rate to distribution licensees such as Tenaga Nasional Berhad.

TRSB provides EPCC as well as maintenance, repair and overhaul (MRO) services for the energy industry. Tesdec Hydropower is a sub-subsidiary of Tesdec Berhad through its subsidiary, Tesdec Services Sdn Bhd. Tesdec is wholly-owned by the Terengganu government while Tesdec Hydropower is principally involved in renewal energy (RE) activities, development and facilities in the state.

Dato’ (Dr). Ts. Awang Daud bin Awang Putera, Executive Chairman of Minetech said, “This project represents for us another step forward in our venture into RE that began in 2020 as part of an organisational transformation at Minetech, which includes diversification and rationalisation. Our move into RE enables us to partake in the development of a sustainable economy that is in line with initiatives in recent years to be greener and ensure social wellbeing.”

“The 3MW mini-hydro power plant project will allow us to also showcase what Minetech is capable of as we seek more opportunities in RE. As a registered solar photovoltaic investor with SEDA and the owner of a 9.99MW AC floating solar power plant located in Pantai Remis, Perak, we are also able to sell electricity to government agencies, businesses and individuals under SEDA’s Net Energy Metering Programme or NEM 3.0.”

YAB Dato’ Seri Dr. Ahmad Samsuri bin Mokhtar, Menteri Besar of Terengganu said, “The state government is committed to driving economic growth through such projects where positive spillover effects include lowering greenhouse gas emissions, mitigating the impact of human activities to the environment and safeguarding the wellbeing of communities through socio-economic progress”.

Chairman of Tesdec Hydropower, YB Ir. Saiful Azmi bin Suhaili said, “We are pleased to initiate this renewable energy project that will bring benefits to the people of Terengganu by providing a stable and clean source of electricity that can also support essential backup power should there be power outages or disruptions.”

The LOA signing ceremony was held at Primula Beach Hotel, Kuala Terengganu and were witnessed by Terengganu Menteri Besar, YAB Dato’ Seri Dr. Ahmad Samsuri bin Mokhtar and Executive Chairman of Minetech, Dato’ (Dr). Ts. Awang Daud bin Awang Putera. Executive Directors, Ts. Azlan Shah bin Zainal Arif and Mr Matt Chin signed on behalf of TRSB while Directors, Ir. Rosdan bin Ismail and Ts. Shahidan Izham bin Yeop Ibrahim, signed for Tesdec Hydropower.

Image Caption
From L-R:
1. Ts. Shahidan Izham bin Yeop Ibrahim, Director of Tesdec Hydropower Sdn Bhd
2. Ir. Rosdan bin Ismail, Executive Director of Tesdec Hydropower Sdn Bhd
3. YB Ir Saiful Azmi, Chairman of Tesdec Hydropower Sdn Bhd
4. YAB Dato’ Seri Dr Ahmad Samsuri bin Mokhtar, Menteri Besar of Terengganu
5. Dato’ (Dr). Ts. Awang Daud bin Awang Putera, Executive Chairman of Minetech Resources Bhd
6. Ts. Azlan Shah bin Zainal Arif, Executive Director of Minetech Resources Bhd
7. Matt Chin Leong Choy, Executive Director of Minetech Resources Bhd
https://www.acnnewswire.com/topimg/Low_Minetech02301111.jpg

From L-R (Standing):
1. YB Ir Saiful Azmi, Chairman of Tesdec Hydropower Sdn Bhd
2. YAB Dato’ Seri Dr Ahmad Samsuri bin Mokhtar, Menteri Besar of Terengganu
3. Dato’ (Dr). Ts. Awang Daud bin Awang Putera, Executive Chairman of Minetech Resources Bhd
From L-R (Seated):
1. Ts. Shahidan Izham bin Yeop Ibrahim, Director of Tesdec Hydropower Sdn Bhd
2. Ir. Rosdan bin Ismail, Executive Director of Tesdec Hydropower Sdn Bhd
3. Ts. Azlan Shah bin Zainal Arif, Executive Director of Minetech Resources Bhd
4. Matt Chin Leong Choy, Executive Director of Minetech Resources Bhd
https://www.acnnewswire.com/topimg/Low_Minetech02301112.jpg

Minetech Resources Berhad: 7219 [BURSA: MINE], https://minetech.com.my/

Bintai Kinden Ventures into Digital Assets

Company’s latest initiative part of treasury management and business expansion plans

Bintai Kinden Corporation Berhad (Bursa: BINTAI, 6998), a mechanical and electrical (M&E) engineering services specialist, is venturing in digital assets through wholly-owned subsidiary Bintai Trading Sdn Bhd (BTSB) as part of the Company’s treasury management while taking into consideration longer-term needs in business expansion.

Executive Director of Bintai Kinden, En. Azri Azerai

As part of this initiative and to take into consideration the longer-term needs, BTSB has an account with a digital currency exchange licensed by the Securities Commission Malaysia.

Azri Azerai, Executive Director of Bintai Kinden said, “This is an opportune time to venture into digital assets as values across the board has fallen, especially among the main ones such as Bitcoin and Ethereum. We will devote a portion of our free cashflow for digital assets and will take a dollar-cost averaging approach when buying into them.”

“This is also part of our treasury management as we need to ensure cashflow to manage our daily operations while taking into consideration our longer term needs and strategies involving the M&E business. We will continue to seek opportunities in Malaysia and neighbouring countries to expand.”

According to Coinbase Global Inc.’s 2023 Crypto Market Outlook published in December 2022, a flight to quality among institutional investors; creative destruction that will eventually lead to new opportunities and; foundational reforms that usher in the next cycle, are the key themes for the year.

The Coinbase report noted that the coefficients that led to the high, positive correlation between Bitcoin and Ethereum versus US stocks have trended lower since May 2022 and expects investors to select higher-quality cryptocurrencies based on factors such as sustainable tokenomics, maturity of ecosystems and relative market liquidity.

A survey sponsored by Coinbase, the “2022 Institutional Investor Digital Assets Survey”, conducted between September 21 and October 27, 2022 among 140 institutional participants, revealed that 53.6% expect cryptocurrency prices to remain range-bound over the next 12 months versus 29.3% who expect prices to trend lower while 7.9% expect prices to trend higher and 9.3% expressed no opinion on where prices will move.

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/

Green Power Energy’s 20 MW Taungdaw Gwin Build-Own-Operate Solar Plant Commissioned in Myanmar

Myanmar’s latest solar energy plant, the 20 megawatt (MW) build-own-operate (BOO) Taungdaw Gwin project, has been officially opened, adding a new chapter to the country’s sustainability and electrification efforts, its developer announced today.

The 20-megawatt Taungdaw Gwin mega-scale solar PV project will contribute to Myanmar’s sustainability and electrification efforts. [Image: GPE]

The project was developed by Green Power Energy Company Limited (GPE), a subsidiary of Gold Energy Company Limited (GE), a leading renewable energy developer in Myanmar.

Taungdaw Gwin is the second mega-scale solar project to be completed by the GE group. Clean Power Energy Limited, another GE subsidiary, completed the 30 MW Thapyay Wa project in Mandalay district in December 2021.

With the official opening of the Taungdaw Gwin project, GE’s solar energy capacity stands at 50 MW. GE also operates the 120 MW Thaukyegat (2) Hydropower Project (TYG), commissioned in 2013.

Located on an 80.9-hectare site southeast of Kyaukse, Myit Thar Township, the Taungdaw Gwin project utilizes a solar tracking system so as to maximize photovoltaic (PV) energy captured by 45,980 solar panels. The project is expected to generate 25.1 MW of direct current or 22.9 MW of alternating current per year.

The Taungdaw Gwin project began transmission to the National Grid on 17 November 2022. The energy output is directly linked to the Taungdaw Gwin substation and is connected to the national grid via a 69.6 km 33-kV transmission line built by GPE.

In line with its commitment to give back to the community, the GPE team conducted an in-depth Environmental and Social Impact Assessment before construction. This enabled an understanding of the impact on nearby communities and the environment and helped to facilitate construction in a responsible and sustainable manner.

Through engaging with local community leaders to understand the needs of the residents surrounding Taungdaw Gwin, the GPE team constructed and installed two overpasses measuring 20.1 metres long by 4.5 metres wide. These and other efforts have improved socio-economic benefits to the community in this otherwise harsh area which had faced challenges of accessibility during the development phase of this important project.

U Zaw Win, Managing Director of GPE, said: “We are proud of the successful completion of the Taungdaw Gwin solar facility. We look forward to a sustainable energy source for the future of Myanmar.

“As a partner in nation-building, GPE is deeply committed to infrastructure development and sustainability in Myanmar. This and other renewable energy projects we are involved in will increase the contribution of renewable energy to the national grid while advancing the country’s national electrification goals.”

About Green Power Energy (GPE)
Green Power Energy Company Limited (GPE), a subsidiary of Gold Energy Company Limited (GE), is a renewable energy developer. GPE completed the Taungdaw Gwin solar PV facility, which was officially opened in December 2022. Despite the challenges of the pandemic, GPE completed the project earlier than scheduled.

The solar energy is connected to the Taungdaw Gwin substation, part of the national grid, via a 69.6 km 33-kV transmission line built by GPE. As GPE continues to build upon its track record and execution capabilities, it remains committed to contributing to Myanmar’s clean energy sector in the coming years. Visit https://gpenergymm.com/.

‘Switching On the SUN’ – Samaiden Officially Turns on First Power Generation Facility at Sunway Nexis

Samaiden Group Berhad (Bursa: SAMAIDEN, 0223), a clean energy solution specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power, is pleased to announce that the Group’s wholly-owned subsidiary, Samaiden Capital Management Sdn. Bhd.’s first solar investment project at Sunway Nexis has commenced operation on 23 December 2022.

Samaiden will operate and maintain the rooftop solar PV system with an installed capacity of 531 kilowatt-peak (kWp) for a duration of 20 years. Based on the generation of 12.5 million kilowatt hour (kWh) over the 20-year period, this can reduce approximately 8,400 tonnes of carbon emissions.

Group Managing Director of Samaiden, Ir. Chow Pui Hee said, “As part of the diversification plan for our Group, we are delighted to see the completion of this first investment project, in which the Power Purchase Agreement (PPA) was signed with Perbadanan Pengurusan Sunway Nexis (Sunway Nexis Management Corporation) back in December 2021.”

“This is a remarkable milestone for us as this facility will contribute positively to our revenue and cash flow on a recurring basis for 20 years.”

Sunway Nexis Management Corporation Chairman, Mr. Teo Poh Heng said, “We must focus on the future of our planet and emphasize sustainability of renewable energy (RE) and Sunway Nexis is happy to partner with Samaiden as the solar PV investor as this will certainly help to raise awareness of RE and its benefits to the owners and tenants of the building. I must thank Samaiden for taking this bold initiative to invest in Solar PV for Sunway Nexis as this is in line with our nation’s initiative on implementing Environmental, Social and Governance (ESG) principles in the workplace. It starts with wise and timely corporate decisions that has long-term repercussions for all concerned.”

“With the recent announcement made by the Minister of Natural Resources, Environment and Climate Change YB Nik Nazmi Nik Ahmad on the surcharge of 20 sen/kWh to be imposed for industry medium voltage and high-voltage users including multinational corporations, we foresee that the solar PV system will be the best alternative for them to deploy in order to reduce their electricity bills,” Ir. Chow noted.

Samaiden Group Berhad: 0223 [BURSA: SAMAIDEN], https://samaiden.com.my/