Latest news with #KinergyAdvancementBhd
The Sun
6 days ago
- Business
- The Sun
Kinergy Advancement posts impressive Q1 results, thanks to sustainable energy solutions segment
PETALING JAYA: Kinergy Advancement Bhd's net profit for the first quarter ended March 31, 2025 increased by 25.8% year-on-year to RM6.25 million compared to RM4.97 million in the same quarter last year. Revenue surged 63.1% year-over-year to RM68.57 million, driven by the performance of its sustainable energy solutions (SES) segment. Earnings per share improved to 0.30 sen from 0.25 sen previously. The SES segment delivered impressive growth, recording revenue of RM34.28 million, a 72.6% increase compared to RM19.86 million in the corresponding quarter last year. SES's operational execution resulted in an operating profit of RM8.46 million, up from RM5.94 million, translating into an operating margin of 24.7%. This performance underscores the segment's recurring revenue strengths and solidifies Kinergy Advancement's market position in sustainable energy solutions including solar, biogas and hydropower. The group's engineering segment continued to provide a steady contribution, recording revenue of RM34.14 million and operating profit of RM1.33 million, ensuring balanced growth and operational diversification. Reflecting strong financial discipline and operational efficiency, Kinergy Advancement generated an operating cash flow of RM8.13 million during the quarter, highlighting its strong cash-generative capabilities and prudent management. The company has a robust order book totalling RM730 million, comprising RM636 million in SES projects and RM94 million in engineering projects. Additionally, its tender pipeline remains strong at about RM3.42 billion, ensuring significant revenue visibility and continued future growth. Kinergy Advancement's strategic growth momentum was further enhanced by securing its largest-ever engineering, procurement, construction, and commissioning (EPCC) contract valued at RM646 million. This major contract represents a significant milestone, clearly marking the company's shift from a traditional engineering-focused entity towards becoming a comprehensive independent power producer. Executive deputy chairman and group managing director Datuk Lai Keng Onn said Kinergy Advancement, over nearly three decades, has grown as an engineering-led company, consistently embedding its technical expertise into the energy transformation journey. 'From our roots to our current momentum, the group is confidently scaling towards full-cycle project delivery. We are now entering a new phase, one that builds on sustainable earnings, operational discipline, and end-to-end project execution capabilities. Proudly EPCC tested and execution-ready, we are prepared to deliver at scale. 'Following our sector reclassification, we marked a profitable start to FY25,' he said in a statement. Lai said each project secured is not an isolated success – it serves as a building block in the company's evolution into a comprehensive energy solutions player. 'We are resolute in our aspiration to evolve beyond a one-stop solutions provider, charging ahead to grow into a full-fledged energy player, with a firm trajectory towards becoming a sustainable, diversified, and trusted IPP.' Key strategic projects have notably positioned Kinergy Advancement on its transformational journey, including the acquisition of a 47.5% equity stake in Jati Cakerawala Sdn Bhd, which will lead to the repowering of a 650MW power plant and the exploration of 29 potential renewable energy projects with Perbadanan Kemajuan Negeri Perak. Additionally, three consecutive contract wins from Petronas Gas Bhd units since 2023 underscore the group's capabilities, which now extend well beyond electrical construction, encompassing the full project lifecycle – rom pre-development planning through to post-commissioning asset and facilities management, including the build-own-operate model for complex infrastructure and sustainable energy projects at scale. With strategic momentum, the group continues to expand its energy portfolio, actively replenish its order book, and capitalise on growth opportunities across Malaysia and the Asean region. These strategic pursuits aim to strengthen KAB's market position and reaffirm its scalability in an increasingly dynamic energy landscape.
The Star
20-05-2025
- Business
- The Star
Trading ideas: Maybank, KAB, Ibraco, PeterLabs, MCE, Euro, MFM, Johor Plantations, Taliworks, Keyfield, George Kent
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Malayan Banking Bhd has signed a letter of intent with the Ministry of Economy to support the Johor-Singapore Special Economic Zone and facilitate up to RM2.4bn in client investments over the next three to 10 years. Kinergy Advancement Bhd 's unincorporated joint venture with Sinohydro Corporation (M) Sdn Bhd has secured a RM646.3mn engineering, procurement, construction and commissioning contract to build a 120-megawatt power plant facility in Labuan. Ibraco Bhd targets to launch new residential and industrial development projects in Sarawak worth RM500mn this year. Peterlabs Holdings Bhd said the Malaysian Anti-Corruption Commission conducted a raid at its principal offices and its subsidiary Thye On Tong Trading Sdn Bhd on Monday, after the company lodged a report to MACC on May 9 over alleged misconduct involving its executive director Datuk Loh Saw Foong. MCE Holdings Bhd has formalised a 51:49 JV with Nanjing Chuhang Technology Co Ltd, a Chinese firm producing millimetre wave radars. Chengco PLT has resigned as Euro Holdings Bhd auditor with immediate effect due to the suspension of the audit firm's registration by the Audit Oversight Board of the Securities Commission Malaysia. Malayan Flour Mills Bhd has allocated RM215mn in capital expenditure for the FY25, of which RM160mn will go to its poultry integration segment and another RM100mn earmarked for expanding and upgrading farming infrastructure. Johor Plantations Group Bhd posted a higher net profit of RM75.9mn in 1QFY25, compared to RM50mn in the same period last year. Taliworks Corp Bhd reported a 30% YoY decline in its net profit for 1QFY25 at RM10.5mn versus RM15mn in the same quarter last year. For 1QFY25, Keyfield International Bhd posted a lower net profit of RM20.7mn compared with RM30.3mn in the same period last year, while revenue declined by 18.5% to RM86.8mn from RM106.4mn, mainly due to reduced vessel revenue. George Kent (Malaysia) Bhd returned to the black with a net profit of RM19mn in 4QFY25 against a net loss of RM28.6mn a year ago, on the back of higher revenue.
