KAB executive deputy chairman and group managing director Datuk Lai Keng Onn
KUALA LUMPUR: Kinergy Advancement Bhd
(KAB) recorded strong underlying growth in the sustainable energy segment (SES) in the third-quarter ended Sept 30, 2024, and is looking towards larger-scale projects across Asean.
In a statement, the group said it has an order book of RM850mil, with RM120mil in engineering projects and RM730mil in SES.
Its active tender pipeline has also grown to an impressive RM3.3bil, indicating significant potential and opportunities in sustainable energy and engineering projects on the horizon.
"This quarter, the group has reaffirmed the rising demand for sustainable energy solutions in Malaysia, showcasing its robust performance," said executive deputy chairman cum group managing director Datuk Lai Keng Onn.
In the quarter under review, KAB recorded a net profit of RM6.11mil, as compared to RM20.36mil in the previous corresponding quarter. Its earnings per share fell to 0.31 sen from 1.13 sen previously.
Revenue, meanwhile, jumped to RM81.52mil from RM48.63mil in the year-ago quarter.
For the nine-month period, the group's net profit was RM16.64mil on revenue of RM165.38mil against net profit of RM26.14mil and revenue of RM136.46mil in 9MFY23.
