KAB to expand its energy solutions and customer base

PETALING JAYA: Kinergy Advancement Bhd (KAB) will continue to focus on expanding its energy solutions and customer base in the energy sector.

In a filing with the local bourse, the one-stop energy and engineering solutions provider said it will also look at replenishing its order book and venturing into neighbouring Asean countries.

For its first quarter ended March 31, 2024 (1Q24), KAB’s net profit doubled to RM4.97mil from RM2.43mil, underpinned by the steady performance of the group’s sustainable energy segment (SES).

In a statement, KAB said the SES segment generated revenue of RM19.86mil.

“Since KAB’s strategic pivot to SES, the group has consistently surpassed its own records, achieving new heights each year.”

Revenue during the quarter was flat at RM42.04mil, compared with RM42.76mil a year earlier, while basic earnings per share stood at 0.25 sen compared with 0.13 sen previously.