Latest news with #Pekat
The Star
7 days ago
- Business
- The Star
Pekat wins RM31mil switchgear job from TNB
PETALING JAYA: Pekat Group Bhd 's indirect 60%-owned subsidiary EPE Switchgear (M) Sdn Bhd has secured a RM31.32mil switchgear maintenance and repair job from Tenaga Nasional Bhd (TNB). In a filing with Bursa Malaysia, the solar energy firm said EPE Switchgear will undertake the maintenance, servicing and repair works of air insulated switchgears and gas insulated switchgears, including supply and installation of spare parts, as per TNB's requirements and specifications. 'The contract shall be effective from Aug 1, 2025, being the date of the LOA. The contract period shall be two years from the effective date, with an additional option for another one year.' Pekat added that the duration for each particular service shall be based on the purchase order issued by TNB. 'EPE Switchgear is required to furnish a performance security for the sum of RM0.39mil within 28 days from the date of the LOA. 'The contract secured is expected to contribute positively towards the future earnings, earnings per share and net assets per share of Pekat and its subsidiaries for the financial year ending Dec 31, 2025 until the expiry of the contract.'
New Straits Times
7 days ago
- Business
- New Straits Times
Pekat Group wins RM31.32mil contract from TNB
KUALA LUMPUR: Pekat Group Bhd's unit EPE Switchgear (M) Sdn Bhd has bagged a RM31.32 miilion contract from Tenaga Nasional Bhd (TNB). In a filing with Bursa Malaysia, Pekat said the contract involves maintenance and repair works of air insulated switchgear (AIS) and gas insulated switchgear (GIS) bearing the EPE brand. This includes the supply and installation of spare parts for TNB's distribution network division. Under the contract terms, EPE Switchgear will undertake the works over a two-year period from the effective date of Aug 1, with an optional one-year extension. TNB will issue specific purchase orders for each service required during the contract period. As part of the agreement, EPE Switchgear is required to provide a performance security amounting to RM390,000 within 28 days and to procure all necessary insurance coverage before the contract commences. Pekat said the contract is expected to contribute positively to earnings and net assets for the financial year ending Dec 31, 2025 and throughout the contract duration.
The Star
17-07-2025
- Business
- The Star
Pekat's private placement to pare its borrowings
Phillip Research said it is neutral about the corporate exercise pending the finalisation of the issue price. PETALING JAYA: Electrical engineering and solar energy company Pekat Group Bhd 's plan for a private placement is expected to dilute its 2025 to 2027 earnings per share (EPS) by about 9% to 10%, analysts say. Phillip Research downgraded the stock to a 'hold' from a 'buy' rating on valuation grounds with the stock currently trading at 21-times forward price-earnings ratio. The research house said it is neutral about the corporate exercise pending the finalisation of the issue price to be determined at a later date. The research house retained a target price RM1.57 sen a share for the stock and its EPS forecast pending the completion of the corporate exercise in the third quarter of this year. Pekat has proposed a private placement of up to 66 million new shares, or 10% of its enlarged share capital, increasing its total share base to 727 million under a maximum scenario.
The Star
21-05-2025
- Business
- The Star
Pekat Group earnings soar to RM12mil in 1Q25
The solar photovoltaic specialist said revenue leapt to RM150.31mil during the quarter. PETALING JAYA: Pekat Group Bhd registered a record net profit of RM12.06mil in the first quarter of financial year 2025 (1Q25). It was more than triple the RM3.78mil posted in the year-ago quarter. The solar photovoltaic specialist said revenue leapt to RM150.31mil in the quarter under view from RM57.63mil in the comparative quarter, driven by strong growth across all business segments and major contract wins. Earnings per share for the quarter climbed to 1.87 sen from 0.59 sen in the previous corresponding quarter. Pekat's solar photovoltaics segment remained the largest contributor, recording RM92.8mil in revenue, a 153.2% increase year-on-year, supported by higher project execution across the commercial, industrial, and residential segments. Growth was also supported by ongoing work under the group's 29.99 MWac Corporate Green Power Programme project. It is expected to contribute to both recurring income and engineering, procurement, construction and commissioning revenue in the coming quarters. The power distribution equipment division via EPE Switchgear (M) Sdn Bhd, delivered a maiden contribution of RM27.9mil. Meanwhile, the earthing and lightning protection division posted RM16.2mil in revenue, up 79.4%, and the trading segment added RM13.4mil, a 12.2% improvement. As at March 31, 2025, Pekat's cash and bank balances rose to RM62.8mil. Total assets rose to RM481mil, up from RM433.2mil at end of financial year 2024. Trading ideas: Maybank, Velesto, Duopharma, IHH, Malakoff, EcoWorld, SCable, MBSB, Kimlun, Sapura Industral, Eversendai, SunCon, PetChem, Aeon, TSH, MyEG
Malaysian Reserve
20-05-2025
- Business
- Malaysian Reserve
Pekat's 1Q net profit triples on strong solar project execution
PEKAT Group Bhd's net profit for the first quarter ended March 31, 2025 (1Q25) surged threefold to RM12.06 million from RM3.78 million a year earlier, driven by higher revenue from its solar and power distribution segments. Quarterly revenue more than doubled to RM150.31 million from RM57.63 million in 1QFY2024, according to the group's filing with Bursa Malaysia today. The group said its solar photovoltaic (PV) division was the main revenue contributor, with a RM56.17 million increase due to stronger project execution across commercial, industrial, and residential sectors. The power distribution equipment division, supported by the acquisition of Apex Power Industry Sdn Bhd, saw revenue double with a RM27.89 million rise. Pekat also recorded strong gains in its trading division (up 79.4%) and earth and lightning protection (ELP) division (up 12.2%), with the latter boosted by increased project execution for data centres. Looking ahead, Pekat is developing two 29.99 MWac solar power plants under the Corporate Green Power Programme, one of which will provide recurring income from end-2025. The second project, recently secured on an EPC basis, is expected to positively impact FY2025 earnings. — TMR
