0145 GMT - Samaiden's role in Malaysia's renewable energy growth may strengthen as it is shortlisted for a 99.99MW large-scale solar photovoltaic project, with operations targeted for 2027, RHB IB analysts Miza Izaimi and Sean Lim say in a note. The project could contribute an average net profit of MYR16 million annually, though it may place Samaiden in a net debt position, they reckon. Engineering, procurement, construction and commissioning contracts for the project are anticipated by 2H next year, with Samaiden aiming to secure at least 10% of available opportunities, they add. They highlight Samaiden's strong track record and ESG premium, positioning it well to capitalize on rising demand for renewable energy solutions. RHB raises Samaiden's target price to MYR1.62 from MYR1.33, while maintaining a buy rating on shares, which last traded at MYR1.31. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
December 30, 2024 20:45 ET (01:45 GMT)
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