Great Prospect for Samaiden Moving Forward 

Kuala Lumpur (14 Mar) - ACE Market-listed Samaiden entered into a Business Collaboration Agreement with Japan’s Chudenko Corp on March 7 to explore opportunities in renewable energy in Malaysia as well as overseas markets. Chudenko now is a substantial shareholder in Samaiden with a 15.15% stake.

Chudenko, listed in Japan with a market capitalisation of RM2.6 billion, is mainly involved in the design, construction, and maintenance of indoor electrical equipment, water and sewerage facilities. It has a wide domestic reach with 68 offices in Japan as well as a presence in Malaysia and Singapore. Chudenko posted a net profit of US$70.5million in FYE March 2021 on US$1.6 billion in revenue.

The collaboration will benefit Samaiden through expanding the company’s geographical reach leveraging on Chudenko’s network for opportunities in renewable energy projects, rooftop solar energy projects for Japanese customers, new technology introduced for operation and maintenance of renewable energy, and collaboration in other technologies.

Based on a Google search, there are about 1,500 Japanese companies in Malaysia. These companies have contributed to the industrialisation of Malaysia. We see exciting prospects ahead for Samaiden with Chudenko as a solid investor and strong company with good fundamentals.

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