In the latest Kuala Lumpur news, Magma Group Berhad concluded its 15th AGM, with shareholders approving all resolutions. Datuk Seri Thomas Liang Chee Fong outlined plans for growth and corporate governance. Meanwhile, Samaiden Group Berhad announced a partnership with Gruppe Lighting Solution to develop energy-efficient lighting with renewable sources. Samaiden’s share price closed at RM1.29. Read more below.
Magma Group’s 15th AGM
Magma Group Berhad (“Magma”), a dynamic hospitality and investment holding group, successfully concluded its 15th Annual General Meeting (AGM) today.
Shareholders approved all twelve resolutions, which included the adoption of financial statements for FY2023, re-election of directors, and reappointment of auditors, reflecting strong confidence in the Company’s strategic direction.
Datuk Seri Thomas Liang Chee Fong, Group Managing Director, stated, “We are grateful for the continued support and trust of our shareholders.
The approval of all resolutions enables us to move forward with our strategic initiatives aimed at enhancing value and driving sustainable growth.
Our focus remains on strengthening our core hospitality operations, leveraging our flagship properties to improve occupancy rates and Average Room Rates (ARR).
Additionally, we are committed to maintaining high standards of corporate governance and operational excellence. As we look to the future, we are optimistic about the opportunities ahead and are dedicated to creating long-term value for our shareholders.”
Magma Group remains focused on its core hospitality operations, especially its flagship hotels like Impiana KLCC Hotel, Impiana Hotel Ipoh, Impiana Hotel Senai, and WOLO Kuala Lumpur. The Company aims to improve occupancy rates and ARR by capitalizing on the expected increase in tourist arrivals and ongoing strategic initiatives.
Samaiden and Gruppe Collaborate
Samaiden Group Berhad (“Samaiden”), a renewable energy specialist, has announced a strategic partnership between its wholly-owned subsidiary, Samaiden Sdn. Bhd. (“SSB”), and Gruppe Lighting Solution Sdn. Bhd. (“Gruppe”).
This collaboration aims to enhance the deployment of innovative, energy-efficient lighting solutions integrated with renewable energy sources.
Gruppe, a leading lighting specialist in Malaysia, focuses on various sectors including public, port/airport, industrial, commercial, sports, and architectural lighting.
The partnership will see both companies co-develop and implement solar street lighting systems featuring solar panels, battery storage, and smart grid technologies.
Additionally, the collaboration extends to smart city projects integrating solar street lights with IoT capabilities to improve energy management and urban services.
These initiatives support Malaysia’s green energy goals by creating sustainable urban infrastructure.
Both companies will also work on programs to enhance energy efficiency and reduce carbon footprints. The partnership aims to lower energy consumption, promote environmental sustainability, and advance green technologies through state-of-the-art solar lighting solutions.
Group Managing Director of Samaiden, Ir. Chow Pui Hee, stated, “This partnership with Gruppe marks a significant step forward in our mission to expand our RE initiatives. By combining our expertise in solar PV systems with Gruppe’s advanced lighting solutions, we are poised to create sustainable, smart urban infrastructure that will benefit communities across Malaysia. This collaboration aligns perfectly with our strategic vision for growth and environmental stewardship.”
Dr. Siew Choon Thye, Managing Director of Gruppe, added, “We are excited to join forces with Samaiden in this strategic collaboration. Our combined efforts will drive the development of innovative, energy-efficient lighting solutions that not only meet the demands of modern urban environments but also contribute to the broader goal of reducing carbon emissions. We look forward to leveraging our collective expertise to make a positive impact on Malaysia’s RE landscape.”
As of 5:00 P.M. 26 June 2024, Samaiden’s share price closed at RM1.29, with a market capitalization of RM539.9 million.
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