SHAH ALAM: Kumpulan Perangsang Selangor Bhd (KPS) expects contributions from four sectors – oil and gas, telecommunications, hospitality and facility management services – to increase in years to come.
Chairman Raja Idris Raja Kamarudin said Perangsang Oil and Gas Sdn Bhd, which has 40% stake in NGC Energy Sdn Bhd, had started to contribute positively to the group’s financial performance with a RM1.9mil profit.
“Moving forward, the group expects to see increasing contributions, mainly from the oil and gas sector,” he told a briefing after the company’s AGM.
Raja Idris said KPS’ investment in the telecommunications sector via Ceres Telecom Sdn Bhd, which launched its FRiENDi pre-paid mobile service in September 2013, was expected to contribute positively to the group’s financial performance in 2016.
He said KPS had been actively pursuing new potential businesses and investments to ensure that its future revenue stream and profitability were preserved following the impending takeover of its water concessionaires Consortium Abass Sdn Bhd and Syarikat Pengeluar Air Sungai Selangor Sdn Bhd by the Selangor government. — Bernama