Kuala lumpur: Samaiden Group Bhd’s recent acquisition of two parcels of agricultural land in Teluk Intan, Perak, underscores its strategic intent to capitalise on Malaysia’s long-term renewable energy growth, said MIDF Amanah Investment Bank Bhd (MIDF).

According to BERNAMA News Agency, a research note from MIDF maintained its ‘buy’ call on Samaiden with an unchanged target price of RM1.59. The note highlighted that the proposed RM45.5 million purchase of 185.57 hectares of agricultural land would strengthen Samaiden’s position as a key beneficiary of future utility-scale solar projects under the National Energy Transition Roadmap (NETR) and Large Scale Solar 5 (LSS5).

MIDF expressed a positive outlook on the proposed acquisition, indicating management’s ambitions to bid for more large-scale solar quotas in the future. They anticipate the announcement of LSS5+ soon, which will set the stage for LSS6. Beyond developing its own solar farm, Samaiden may also lease the two plots of land to other developers while participating as an engineering, procurement, construction and commissioning contractor.