Latest news with #KAB
Focus Malaysia
2 days ago
- Business
- Focus Malaysia
Kington Tong no longer a substantial shareholder in Kinergy but Gan Kong Hiok emerges as one
MAIN Market-listed one-stop provider of sustainable energy and engineering solutions Kinergy Advancement Bhd (KAB) (formerly Kejuruteraan Asastera Bhd) has revealed that Kington Tong Kum Loong has ceased to be its substantial shareholder with immediate effect. This followed his disposal of an additional direct interest of 25.04 million shares in KAB yesterday (July 29) via direct business transaction, according to a Bursa Malaysia filing today (July 30). Upon review of Tong's past activities and shareholdings in KAB, he had never held any management position or served on the latter's board. In other words, his previous stake in the company had not had any influence on KAB's management structure or operations. As such, the change in his shareholding is not expected to impact KAB's governance, strategic direction nor on-going operations. Interestingly, KAB has found a new substantial shareholder in Datuk Gan Kong Hiok about the same time Tong ceased to be the group's substantial shareholder. The enterprising businessman had acquired 63.33 million shares in KAB on July 24 through a direct business transaction to raise his shareholding level to 128.61 million shares which are equivalent to a 6.05% stake, according to a Bursa Malaysia filing today (July 28). Widely recognised within Malaysia's corporate circles for his disciplined investment philosophy and a strong commitment to long-term value creation, Gan had significantly contributed to its expansion of PK Resources Bhd while serving as its executive director and managing director prior to his stepping down in 2007. An alumnus of Aston University and University of Oxford, Gan is currently involved prominently as a major investor and board member in several reputable companies, including Nextgreen Global Bhd – a leading green technology enterprise in Malaysia where he holds over a 12% stake. Known for his strategic patience, steady accumulation approach and a strong conviction in transformative sectors such as green technology, Gan exemplifies an investment philosophy centred on companies with long-term growth trajectories. Gan's pursuit of businesses with sustainable growth potential reinforces confidence in KAB's strategic direction and strengthens its position within its respective industry. On this note, he has farther acquired 25.054 million shares via direct business transaction yesterday (July 29) to raise his direct stake in KAB to 153.65 million shares or 7.22%. At 2.58pm, KAB was down 0.5 sen or 1.52% to 32.5 sen with 4.98 million shares traded, thus valuing the company at RM691 mil. – July 30, 2025
The Sun
2 days ago
- Business
- The Sun
KAB announces shareholding change, reaffirms strategic focus
KUALA LUMPUR: Kinergy Advancement Bhd (KAB), a leading Malaysian provider of sustainable energy and engineering solutions, has announced the cessation of Kington Tong Kum Loong as a substantial shareholder following his disposal of 25,037,543 ordinary shares via a direct business transaction. According to a filing with Bursa Malaysia, the change was officially notified on July 30, 2025, marking the end of Tong's tenure as a prominent investor in the company. Tong had never held any executive or board position at KAB, with his role strictly limited to that of a passive investor, without influence over management decisions or corporate strategy. The company clarified that the disposal by a substantial shareholder has no impact on its operations, strategic direction, or governance structure. KAB remains firmly under the leadership of its executive team, led by executive deputy chairman and group managing director Datuk Lai Keng Onn, who is also the largest individual shareholder and continues to drive the company's vision and growth in the sustainable energy sector. Recent share movements have also introduced other significant investors, further diversifying KAB's shareholder base and reinforcing market confidence. The company emphasised that such changes reflect the dynamic nature of public markets, where shifts in shareholding are part of regular market activity. For stakeholders, the announcement reaffirms that KAB's mission, operational integrity, and commitment to delivering excellence in sustainable energy and engineering solutions remain unchanged. KAB has established a strong regional presence, with 27 sustainable energy projects across Southeast Asia and a consistent record of earnings growth in recent quarters. Its core offerings include energy-efficient systems, renewable energy generation—spanning solar, biogas, and hydroelectric—cogeneration solutions, and robust engineering services for both commercial and residential developments. The company's transformation, highlighted by its 2023 rebranding and clear carbon reduction targets, has positioned KAB as an industry leader, earning repeated recognition for its environmental, social, and governance (ESG) performance.
Focus Malaysia
3 days ago
- Business
- Focus Malaysia
Kinergy lands green industry enthusiast Gan Kong Hiok as substantial shareholder
MAIN Market-listed one-stop provider of sustainable energy and engineering solutions, Kinergy Advancement Bhd (KAB) (formerly Kejuruteraan Asastera Bhd) has found a new substantial shareholder in Datuk Gan Kong Hiok. The enterprising businessman had acquired 63.33 million shares in KAB on July 24 through a direct business transaction to raise his shareholding level to 128.61 million shares which are equivalent to a 6.05% stake, according to a Bursa Malaysia filing today (July 28). Widely recognised within Malaysia's corporate circles for his disciplined investment philosophy and a strong commitment to long-term value creation, Gan had previously served as executive director and managing director at PK Resources Bhd, significantly contributing to its expansion until his stepping down in 2007. A graduate of University of Aston and Oxford, Gan is currently involved prominently as a major investor and board member in several reputable companies, including Nextgreen Global Bhd – a leading green technology enterprise in Malaysia where he holds over a 12% stake. Known for his strategic patience, steady accumulation approach and a strong conviction in transformative sectors such as green technology, Gan exemplifies an investment philosophy centred on companies with long-term growth trajectories. Gan's pursuit of businesses with sustainable growth potential reinforces confidence in KAB's strategic direction and strengthens its position within its respective industry. At the close of today's trading, KAB was unchanged at 33 sen with 3.19 million shares traded, thus valuing the company at RM702 mil. – July 28, 2025
The Sun
24-07-2025
- Business
- The Sun
SunBiz 2025-07-24 03:58 PM
KUALA LUMPUR: Kinergy Advancement Bhd (KAB), through its wholly owned subsidiary KAB Energy Holdings Sdn Bhd, has secured feed-in approvals for two hydropower projects under the Sustainable Energy Development Authority's (SEDA) Feed-in Tariff (FiT) 2.0 initiative. This latest milestone adds a combined installed capacity of 8.04 megawatts (MW), comprising two facilities with outputs of 5.2 MW and 2.84 MW, respectively. Building on the success of its mini-hydropower project in Indonesia, acquired in August 2023 and powered by environmentally friendly run-of-river technology, the group is now expanding its hydropower footprint in Malaysia through these newly approved projects under SEDA's FiT 2.0 programme. As these projects progress, KAB's Sustainable Energy Solutions (SES) segment is poised to benefit from stable, recurring revenue over 21 years, enabled by SEDA's structured tariff framework. Under the scheme, the approved tariff rates are fixed at RM0.34/kWh for the first 10 years and RM0.32/kWh for the following 11 years. The group's strategic move to initiate its renewable energy (RE) journey with the Indonesian mini-hydropower project is now bearing fruit—fueling tangible growth and strengthening its domestic presence in Malaysia. KAB executive deputy chairman and group managing director Datuk Lai Keng Onn said the company's progression from Indonesia to Malaysia reflects the scalability and synergy of its SES segment. 'We continue to unlock the growth potential of our sustainable energy portfolio. The approval of more than 8.0 MW demonstrates a well-aligned regional strategy and reaffirms the group's commitment to advancing sustainable energy development across Southeast Asia. 'We aim to contribute meaningfully to Malaysia's energy transition goals by ensuring each initiative delivers impactful, long-term economic growth—while most importantly, enhancing national energy security,' he said in a statement. SEDA's FiT 2.0 initiative is designed to promote renewable energy investment, create jobs, and accelerate Malaysia's shift toward cleaner energy sources. Its transparent online bidding process has increased industry participation, boosted investor confidence, and supported the development of renewable energy infrastructure nationwide.
The Sun
24-07-2025
- Business
- The Sun
KAB wins SEDA FiT 2.0 nod for two hydropower projects with 21-year fixed tariff
KUALA LUMPUR: Kinergy Advancement Bhd (KAB), through its wholly owned subsidiary KAB Energy Holdings Sdn Bhd, has secured feed-in approvals for two hydropower projects under the Sustainable Energy Development Authority's (SEDA) Feed-in Tariff (FiT) 2.0 initiative. This latest milestone adds a combined installed capacity of 8.04 megawatts (MW), comprising two facilities with outputs of 5.2 MW and 2.84 MW, respectively. Building on the success of its mini-hydropower project in Indonesia, acquired in August 2023 and powered by environmentally friendly run-of-river technology, the group is now expanding its hydropower footprint in Malaysia through these newly approved projects under SEDA's FiT 2.0 programme. As these projects progress, KAB's Sustainable Energy Solutions (SES) segment is poised to benefit from stable, recurring revenue over 21 years, enabled by SEDA's structured tariff framework. Under the scheme, the approved tariff rates are fixed at RM0.34/kWh for the first 10 years and RM0.32/kWh for the following 11 years. The group's strategic move to initiate its renewable energy (RE) journey with the Indonesian mini-hydropower project is now bearing fruit—fueling tangible growth and strengthening its domestic presence in Malaysia. KAB executive deputy chairman and group managing director Datuk Lai Keng Onn said the company's progression from Indonesia to Malaysia reflects the scalability and synergy of its SES segment. 'We continue to unlock the growth potential of our sustainable energy portfolio. The approval of more than 8.0 MW demonstrates a well-aligned regional strategy and reaffirms the group's commitment to advancing sustainable energy development across Southeast Asia. 'We aim to contribute meaningfully to Malaysia's energy transition goals by ensuring each initiative delivers impactful, long-term economic growth—while most importantly, enhancing national energy security,' he said in a statement. SEDA's FiT 2.0 initiative is designed to promote renewable energy investment, create jobs, and accelerate Malaysia's shift toward cleaner energy sources. Its transparent online bidding process has increased industry participation, boosted investor confidence, and supported the development of renewable energy infrastructure nationwide.
