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This week, i Capital features Samaiden Group Berhad (Samaiden), a prominent player in Malaysia’s clean energy sector, specialising in the engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and other renewable energy power plants, including biomass, biogas, and mini hydro. Founded in 2013 by Fong Yeng Foon and Chow Ah On with a vision to advance Malaysia’s renewable energy landscape, the Company began as a contractor offering installation services for residential, commercial, and industrial (C&I) solar PV projects. 

Beyond EPCC, Samaiden provides specialised consultancy services in renewable energy and environmental sustainability, such as independent assessments of landfill gas and contaminated land for property development projects, as well as operations and maintenance services to ensure long-term project performance and reliability. 

Following the launch of the Large-Scale Solar (LSS) scheme in 2016, Samaiden expanded into providing EPCC services for LSS projects, with substantially larger projects driving robust revenue and installed capacity growth. Samaiden was listed on the Bursa ACE Market in 2020 with a market capitalisation of RM100.8 mln before transferring to the Main Market in 2023. As of Dec 2024, the Company expanded its order book to RM515.7 mln, positioning it for sustained revenue growth over the next two to three years. Approximately 80% of its outstanding order book consists of solar-related projects, with the remainder covering other renewable energy sectors such as biomass and mini-hydro. 

EPCC Services 

Central to Samaiden’s growth is its EPCC services segment, accounting for approximately 99% of total revenue. The EPCC process involves multiple stages, starting with engineering and design, which includes designing the solar PV array and balance of systems, such as inverters, transformers, and interconnection to the power grid. Procurement covers acquiring all construction materials and equipment (e.g., solar PV modules and balance of systems). Construction encompasses civil, structural, mechanical, and electrical works. Installation and integration involve setting up equipment and connecting it to the power grid, if required. Finally, commissioning inc