The Board of Directors of Samaiden announced that Samaiden had on 2 August 2022, entered into a Joint Venture and Stockholders' Agreement with Aneka Jaringan Holdings Berhad to establish a joint venture company for the purpose of penetrate into the renewable energy business in Indonesia. The objective of the JVA is to establish a framework and outline the terms and conditions for both Samaiden and Aneka to incorporate the JV Company in Indonesia. The JV Company has not been incorporated as at the date of the JVA.

The Parties agree that the business of the JV Company shall involve the undertaking of engineering, procurement, construction and commissioning of solar photovoltaic systems and power plants, provision of renewable energy and environmental consulting services, operation and maintenance services and build-own- operate-transfer RE facilities in Indonesia. The proposed authorised capital of the JV Company shall be Indonesian Rupiah Ten Billion One Hundred Million only (IDR 10,100,000,000) or approximately MYR 3.03 million. The injection of the capital into the JV Company shall be executed progressively depending on the cash flows requirement.

Samaiden shall subscribe fifty percent (50%) and Aneka together with its subsidiary, PT Aneka Jaringan Indonesia, shall subscribe in total forty-five (45%) of the capital of the JV Company. The remaining balance of five percent (5%) shall be subscribed by Aneka's business partner. Samaiden shall provide technical knowledge and advisory in respect of RE business to the JV Company while Aneka shall source and identify the potential business opportunities in Indonesia.

The daily operations of the JV Company shall be managed by a qualified professional to be identified later and any strategic decision making shall be jointlydecided by Samaiden and Aneka. Aneka is a public listed company incorporated in Malaysia and listed on the ACE Market of Bursa Malaysia Securities Berhad. Through its subsidiaries, Aneka is principally involved in basement and foundation construction.

Its foundation construction includes bored piles, piles caps, plunge- in columns, diaphragm wall, contiguous bored pile wall, secant pile wall, and other types of wall and supporting system. Its basement construction includes bottom-up and top-down methods. The JVA to be undertaken would enable Samaiden to expand its geographical reach to Indonesia by leveraging on Aneka's network which has been established following its commencement of foundation construction business in Indonesia since 2014.