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Samaiden in tie-up with Tokyo-listed Chudenko for opportunities in renewable energy

KUALA LUMPUR, March 7-- Samaiden Group Bhd (Samaiden) has entered into a business collaboration agreement (BCA) with Chudenko Corporation (Chudenko) to explore opportunities in the area of renewable energy (RE) in Malaysia as well as overseas markets.

Chudenko is a substantial shareholder of Samaiden with an equity stake of 15.15 per cent.

The renewable energy company said the BCA would enable Samaiden to expand overseas by leveraging on Chudenko’s network.

“The potential business collaboration will include potential local, overseas and cross-border businesses, expansions and collaborations between Samaiden and Chudenko in Malaysia or overseas,” it said in a stock exchange filing with Bursa Malaysia.

It also entails joint investment or venture in RE projects, including rooftop solar energy projects for Japanese customers, and collaborating in the introduction of technology in operations and maintenance (O&M) of RE projects.

Samaiden group managing director Chow Pui Hee said the collaboration enables the group to leverage on Chudenko’s technical know-how.

“Conversely, Samaiden’s RE expertise can be valuable in Chudenko’s decarbonisation initiatives,” she said in a media statement.

The BCA is not expected to have any material effect on the earnings, net assets, and gearing of Samaiden for the financial year ending June 30, 2022, 

-- BERNAMA

 

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