On 18 November 2025, JBB Builders International Limited (1903) reported forming a joint venture through its wholly-owned subsidiary JBB Builders (M) Sdn. Bhd. (“JBB Builders”) and Samaiden Sdn. Bhd., a subsidiary wholly owned by Samaiden Group Berhad (0223). The joint venture company, Legasi Suria Selatan Sdn. Bhd., is held 30% by JBB Builders and 70% by Samaiden Sdn. Bhd.

The project involves developing a 99.99MWac large-scale solar photovoltaic plant in Segamat, Johor, Malaysia, with a scheduled commercial operation date on or before 29 February 2028. A 21-year Solar Power Purchase Agreement will be signed between the joint venture company and Tenaga Nasional Berhad, providing a stable long-term revenue framework for the plant’s output.

JBB Builders is expected to contribute up to RM65 million in capital for the project, in proportion to its 30% shareholding. It will fund this commitment through internal resources and, if deemed appropriate, via corporate banking facilities. The formation of the joint venture is considered a disclosable transaction under Chapter 14 of the Listing Rules, as the applicable percentage ratio exceeds 5% but is less than 25%.

According to the announcement, the collaboration aims to leverage JBB Builders’ and Samaiden Sdn. Bhd.’s combined industry experience and resources to strengthen the foundations for renewable energy development. The project is expected to diversify the company’s portfolio, enhance capital efficiency, and contribute to sustainable practices in Malaysia’s energy sector.