KPS sees higher contributions from four sectors

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

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Business , Kumpulan Perangsang , earnings


Next In Business News

MUI Group's PMC to buy 51% stake in A&W Malaysia
Yinson reports third straight quarterly earnings growth
KPower posts RM37.4mil net profit in FY21, despite Covid-19 setbacks
FBM KLCI broadly higher on bargain-hunting activities
BNM's international reserves at US$116.2bil as at Sept 15
China stocks end higher, Evergrande's assurances lift real estate firms
Maybank, UOB to jointly underwrite RM2bil Islamic facility for Malayan cement
DFIs provide micro-SMEs with financing totalling RM8.1bil
Oil prices rise on tight supply, renewed risk appetite
Citi Malaysia bags multiple banking awards

Stories You'll Enjoy