KUALA LUMPUR (Oct 14): Samaiden Group Bhd's unit has signed a partnership agreement with Thingnario Ltd to pursue opportunities in the development of telemetry monitoring artificial intelligence (AI)-based solutions for existing and future businesses.

In a filing with Bursa Malaysia on Friday (Oct 14), the company said its wholly owned subsidiary Samaiden Sdn Bhd (SSB) would explore the AI system to support the renewable energy and energy efficiency businesses of Samaiden within Malaysia.

Under the partnership, SSB would be responsible for the activities of market expansion, sourcing, liaising and securing projects with potential clients.

Meanwhile, Thingnario will provide the support of a telemetry monitoring system to support the operations and maintenance works of solar photovoltaic and energy efficiency businesses.

According to the filing, AI-based system provider Thingnario, which is headquartered in Taipei, Taiwan, owns the "Photon" intelligent solar monitoring system that has successfully served 3,500 sites with an aggregate capacity of 1.5GW across 10 countries in 2022.

Samaiden said the partnership would enable the group to diversify its core business which is engineering, procurement, construction and commissioning into other clean energy businesses, by leveraging the expertise of Thingnario in developing telemetry monitoring tools.

In a separate statement, the group managing director of Samaiden, Chow Pui Hee, said as part of the group's digitalisation plan, Samaiden strongly believes the support from Thingnario can facilitate transformation in this area smoothly.

"We're very optimistic that we can provide effective and efficient solutions to our customers for performance optimisation and improve their return of investment," said Chow.

Samaiden's share price increased 3.7% or 2.5 sen to 70 sen at the time of writing on Friday, giving it a market capitalisation of RM269.5 million.