Latest news with #KAB
The Sun
20-05-2025
- Business
- The Sun
Kinergy Advancement secured RM646.3m EPCC contract for Sabah power infrastructure
KUALA LUMPUR: Kinergy Advancement Bhd's (KAB) subsidiary, KAB Energy Holdings Sdn Bhd, has bagged a letter of award (LoA) from Rancha Power Sdn Bhd to undertake the engineering, procurement, construction, and commissioning (EPCC) of a 120-megawatt gas engine generator power plant in Labuan, scheduled for completion by the first quarter of 2028. According to a Bursa Malaysia filing, the LoA, dated May 13, 2025, is KAB's third major energy infrastructure contract win from Petronas Gas Bhd's Rancha Power Sdn Bhd unit. Rancha Power is a joint venture comprising PG Energia Sdn Bhd, a subsidiary of Petronas Gas, Sustainable Power Sdn Bhd, a subsidiary of Sabah Electricity Sdn Bhd, and SEC Power Sdn Bhd, a subsidiary of Sabah Energy Corporation Sdn Bhd, established to collaboratively manage the development and ownership of this 120MW power plant. The filing noted that the awarded EPCC contract is worth RM646.3 million for a new 120MW dual-fuel gas engine power plant strategically located at Rancha-Rancha Industrial Estate, Labuan, East Malaysia. This project reinforces East Malaysia's energy security and ensures long-term regional energy reliability. KAB's previous project wins include a joint venture with Petronas Gas for a RM230 million, 72MW power plant in Sabah secured on February 3, 2023. This deal includes a strategic 10% equity stake in Regas Terminal (Lahad Datu) Sdn Bhd, positioning KAB as a key local technical partner. Notably, on November 6, 2023, KAB secured an RM33.3 million EPCC contract from Pengerang LNG (TWO) Sdn Bhd. This project involved the expansion and transformation of 137,000m³ liquefied natural gas carriers into a floating storage unit (FSU). Both projects underline KAB's growing stature and established capabilities in delivering major energy infrastructure. KAB has undergone rapid and successful transformation over the past seven years, notably by the sector reclassification from engineering to energy on January 13, 2025. Transitioned from a traditional engineering company into a comprehensive sustainable energy solutions (SES) provider, reinforcing sustainable earnings through diversified services. KAB's robust technical expertise remains its core strength, clearly defining its unique value proposition in the sustainable energy landscape.
New Straits Times
19-05-2025
- Business
- New Straits Times
Kinergy JV secures RM646mil EPCC contract for 120MW plant in Labuan
KUALA LUMPUR: Kabeh-Sinohydro, a joint venture (JV) between a Kinergy Advancement Bhd (KAB) subsidiary and Sinohydro Corp, has secured a RM646.32 million engineering, procurement, construction and commissioning (EPCC) contract for a 120-megawatt (MW) power plant in Labuan, Sabah. Kabeh-Sinohydro, an unincorporated JV between KAB Energy Holdings Sdn Bhd and Sinohydro Corp (M) Sdn Bhd, secured the job from Rancha Power Sdn Bhd (RPSB). RPSB is a JV company between PG Energia Sdn Bhd, a wholly owned subsidiary of Petronas Gas Bhd (PGB), Sustainable Power Sdn Bhd, a wholly owned subsidiary of Sabah Electricity Sdn Bhd, and SEC Power Sdn Bhd, a wholly owned subsidiary of Sabah Energy Corporation Sdn Bhd. "This project is expected to contribute to the growth of the group's income and strengthen its technical expertise in delivering complex energy infrastructure. Upon the completion of the project, it will further reinforce the group's position in the realm of Sustainable Energy Solutions," KAB said in a filing to Bursa Malaysia today.
Time of India
17-05-2025
- Politics
- Time of India
State insect to heritage sites, Karnataka government dragging feet over major announcements, say activists
Bengaluru: Nearly five years after experts and multiple departments rallied behind declaring the ' Tudave honeybee ' ( Apis cerana ) as Karnataka's official state insect, the govt is yet to act on it. Fuming over the delay, conservationists said the inaction reflected govt apathy toward ecological symbolism and environmental priorities. Karnataka Biodiversity Board (KAB) had recommended to the forest dept in 2020-21 to declare the Tudave honeybee as the state insect after backing from the home and horticulture depts. Green activists and conservationists, led by former KAB chairperson Ananth Hegade Ashisara, met forest, environment and ecology minister Eshwar Khandre last week and sought immediate announcement on these long pending proposals. "It's baffling. The scientific community, the board, and even the then CM BS Yediyurappa had responded positively to the recommendation. And yet, here we are — no formal announcement even after five years," said Ashisara. The proposal to recognise Apis cerana, a native and ecologically vital honeybee species, had the unanimous support of a committee that included experts from Indian Institute of Science (IISc), entomologists from University of Agricultural Sciences, and officials from the horticulture department. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Click Here - This Might Save You From Losing Money Expertinspector Click Here Undo Often referred to as Asian honey bee, Tudave honeybee is native to south, southeast Asia and is considered as one of the important pollinators, helping in better agricultural yields, besides enhancing forest cover. A state insect tag was also expected to safeguard these honeybees, threatened by various factors. "It is not just the honey bee, which is awaiting official tag but also several fish conservation sites across Karnataka. 11 fish conservation sites were identified, and five years ago, another 15 such sites were identified along the Western Ghats for formal notification, and nothing has been done to date," Ashisara told TOI soon after submitting the memorandum to the minister. He said despite the Biodiversity Act being a powerful weapon to crack down on unregulated exploitation of natural resources, no cases have been registered in the state under the Act. The group also reminded the govt to publish details of the report, prepared by senior IFS officers VV Singh and RK Singh, on trees endemic to Karnataka forests that are on the verge of extinction. Recalling that Karnataka was the first state to declare four sites as biodiversity heritage sites, Ashisara said, "In 2021-22, the board proposed 12 such heritage sites in Malnad, coastal, and North Karnataka regions, including Adinarayana Betta, Antaragange Betta, Sita Ashoka Vana at Sagar Barur, and Kattale Kaanu near Jog Falls. But none of them have been declared as heritage sites to date. In fact, our scientific report on frequent landslides and the carrying capacity of the ecologically fragile Uttara Kannada district is gathering dust in the board. "
Yahoo
12-05-2025
- Politics
- Yahoo
Russian attacks injure 22 in Ukraine over past 24 hours despite ceasefire calls
Russian attacks injured at least 22 people in Ukraine over the past 24 hours, regional authorities reported on May 12. This includes at least seven people injured in drone attacks overnight on May 12, a date from which Kyiv and its allies put forward a demand for a 30-day unconditional truce, a step that Moscow continues to reject. Ukraine's Air Force reported that Russia deployed 108 attack and decoy drones during the assault overnight. Ukrainian air defenses reportedly intercepted 55 strike drones across the eastern, northern, southern, and central parts of the country. Thirty decoy drones disappeared from radars without causing damage. Regions affected by the overnight assault included Odesa, Mykolaiv, Donetsk, and Zhytomyr oblasts, according to Ukraine's military. In Donetsk Oblast, five civilians were injured on May 11 in separate attacks on four towns, Governor Vadym Filashkin said. The state railway company, Ukrainian Railways, confirmed that a Russian drone also attacked a civilian freight train in Donetsk Oblast on May 12, injuring the locomotive driver with shrapnel. He was hospitalized and is in stable condition. According to the statement, the attack failed to halt railway traffic. In Odesa Oblast, one person was injured as Russian drones struck civilian infrastructure. The attack damaged residential buildings, an administrative office, and a fire station, according to Governor Oleh Kiper. In Kherson Oblast, Russian forces attacked over 30 settlements with drones, artillery, and air strikes, Governor Oleksandr Prokudin reported. The strikes targeted critical and civilian infrastructure, damaging five apartment buildings, nine houses, a cellular tower, and civilian vehicles. Five civilians were injured. In Kharkiv Oblast, eight communities came under fire over the past 24 hours. Russia used KAB bombs and first-person-view (FPV) drones to attack multiple districts. Five people were injured. Civilian infrastructure, houses, garages, and cars suffered damage, according to Governor Oleh Syniehubov. In Dnipropetrovsk Oblast, Russian troops attacked with a guided aerial bomb, injuring two men. One of them is in critical condition and receiving urgent medical care, according to Governor Serhii Lysak. Houses and cars were damaged in the attack. In Sumy Oblast, nearly 90 Russian strikes were recorded in the region across 33 settlements in 12 communities, injuring one civilian, regional authorities reported. In Zaporizhzhia Oblast, Russian forces launched 494 attacks on 16 settlements, including six air strikes, over 300 drone attacks, and numerous artillery attacks. Two people were injured, according to the local administration. Despite appeals from Kyiv and its partners for a truce, the Kremlin insists on negotiations without an unconditional ceasefire. In a press conference in the early hours of May 11, Russian President Vladimir Putin invited Ukraine to restart talks, which, according to Kremlin aide Yuri Ushakov, Russia wishes to be based on the terms of the 2022 Istanbul discussions and the "current situation on the battlefield." President Volodymyr Zelensky announced his readiness to meet Putin in Turkey on May 15, reiterating Ukraine's proposal for a complete and unconditional ceasefire starting May 12. The Kremlin has not responded to Zelensky's proposal for a face-to-face meeting of the two leaders. Read also: Zelensky ready to meet Putin in Turkey, calls for immediate ceasefire We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
08-05-2025
- Business
- Yahoo
While insiders own 29% of Kinergy Advancement Berhad (KLSE:KAB), retail investors are its largest shareholders with 42% ownership
Key Insights Significant control over Kinergy Advancement Berhad by retail investors implies that the general public has more power to influence management and governance-related decisions 50% of the business is held by the top 12 shareholders Insider ownership in Kinergy Advancement Berhad is 29% Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. To get a sense of who is truly in control of Kinergy Advancement Berhad (KLSE:KAB), it is important to understand the ownership structure of the business. The group holding the most number of shares in the company, around 42% to be precise, is retail investors. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). Meanwhile, individual insiders make up 29% of the company's shareholders. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. Let's take a closer look to see what the different types of shareholders can tell us about Kinergy Advancement Berhad. Check out our latest analysis for Kinergy Advancement Berhad KLSE:KAB Ownership Breakdown May 8th 2025 What Does The Institutional Ownership Tell Us About Kinergy Advancement Berhad? Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. We can see that Kinergy Advancement Berhad does have institutional investors; and they hold a good portion of the company's stock. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Kinergy Advancement Berhad, (below). Of course, keep in mind that there are other factors to consider, too. KLSE:KAB Earnings and Revenue Growth May 8th 2025 Kinergy Advancement Berhad is not owned by hedge funds. From our data, we infer that the largest shareholder is Keng Lai (who also holds the title of Top Key Executive) with 20% of shares outstanding. Its usually considered a good sign when insiders own a significant number of shares in the company, and in this case, we're glad to see a company insider play the role of a key stakeholder. With 7.5% and 7.4% of the shares outstanding respectively, Stocqtech Sdn. Bhd. and Kum Loong Tong are the second and third largest shareholders.
