KUALA LUMPUR: Samaiden Group Bhd has received A1/Stable/P1 ratings from RAM Ratings Services Bhd for its RM500 million Islamic commercial papers and RM1 billion Islamic medium-term notes.
Samaiden said the strong ratings reflect its robust financial performance, market leadership, and strategic positioning within Malaysia's renewable energy (RE) sector.
As a key player in engineering, procurement, construction, and commissioning for solar photovoltaic (PV) systems, Samaiden has shown consistent growth and operational excellence, with over 500 megawatts of solar systems installed nationwide.
Group managing director Datuk Chow Pui Hee said the ratings are significance for Samaiden's growth ambitions.
"Receiving these ratings highlights our financial strength and commitment to sustainability. They position us to attract investors and pursue large-scale projects that support Malaysia's green energy transition," she said.
Samaiden's financial performance has been impressive, with revenue growing from RM76.2 million in FY2020 to RM227.2 million in FY2024 while pre-tax profits surged by 63.9 per cent year-on-year to RM22.0 million in FY2024,
Its order book, valued at RM521.2 million as of November 2024, further highlights Samaiden's strong position in the RE market.
It is diversifying its RE portfolio, including investments in bioenergy and mini-hydro technologies while maintaining a focus on sustainability with its long-term goal of achieving net-zero carbon emissions by 2050.