Kinergy unveils growth strategy


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

In a filing with Bursa Malaysia, 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 the first quarter ended March 31, 2024 (1Q24), Kinergy’s net profit doubled to RM4.97mil from RM2.43mil, underpinned by the steady performance of the group’s sustainable energy segment (SES).

Kinergy said the SES segment generated revenue of RM19.86mil.

“Since Kinergy’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.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Wall Street set to rise as investors bet on second Trump term
Temasek aims to invest up to US$12bil in India as China weighs
Goldman Sachs profit jumps on robust debt underwriting, fixed-income trading
Tengku Zafrul: BRI Involvement strengthens Malaysia-China economic partnership
Bank Islam issues RM1bil senior Sukuk Murabahah
Ringgit closes easier ahead of US Fed meeting
PMBT disposes of Klang land for RM79mil
E-invoice implementation will not impact overall vehicle sales this year - Miti
Siab appoints new executive directors
Foreign investors cumulative inflow surges to US$598mil in 1Q24

Others Also Read