PETALING JAYA: Aneka Jaringan Holdings Bhd and Samaiden Group Bhd has entered into a joint venture (JV) agreement today, which will create new revenue streams for both companies via engineering, procurement, construction & commissioning (EPCC) of solar photovoltaic (PV) systems and power plants in Indonesia.
This JV provides Samaiden access to the Indonesian market and allows Aneka Jaringan which already has a presence in Indonesia via its subsidiary PT Aneka Jaringan Indonesia to add to its value chain in a fast-growing segment.
The JV puts both companies in a strategic position to capitalise on the opportunities presented by Indonesia’s commitment to RE. In addition to EPCC of solar PV, the JV will provide RE and environmental consulting services, operations and maintenance (O&M) services and built-own-operate-tranfer RE facilities.
A JV company with a proposed authorised capital of IDR10.1 billion (RM3.03 million) will be incorporated in Indonesia for this purpose. The incorporation of the new JV company is scheduled to be completed by the end of August 2022 in Jakarta.
Aneka Jaringan together with its subsidiary PT Aneka and Samaiden will hold 45% and 50% stake respectively in the JV company. The remainder will be subscribed by Aneka Jaringan’s business partner based in Indonesia.
Commenting on the JV, Aneka Jaringan managing director Pang Tse Fui said this JV is in line with its growth strategy of expanding its operations in Indonesia and increasing its revenue streams.
“Our new Jakarta office is nearing completion, ready to welcome a new JV company and this will enable them to hit the ground running to tap into Indonesia’s 400,000 megawatt (MW) solar power potential. This JV company is expected to strengthen Aneka Jaringan’s value chain and business resilience while contributing to Indonesia’s carbon neutrality goal.”
Samaiden group managing director Chow Pui Hee said Indonesia presents great potential in an area of Samaiden’s expertise – renewable energy (RE), in particular solar PV systems.
“We perceive Aneka Jaringan through its Indonesian subsidiary, as a perfect partner who has the local knowledge, network and experience that can expedite and support our geographical expansion. With over 200 completed projects under our belt, we are committed to provide our best solutions to support Indonesia’s net-zero ambition.”
