From left: TA Securities Holdings Bhd head of corporate finance Ku Mun Fong, Hartanah Kenyalang Bhd independent non-executive director Chai Suk Phin, Hartanah Kenyalang executive director cum chief operating officer Tony Cheok Liam Fock, Hartanah Kenyalang deputy managing director Seah Boon Kee, Hartanah Kenyalang independent non-executive chairperson Datin Josephine Hilary Dom, Hartanah Kenyalang managing director Seah Boon Tiat, Hartanah Kenyalang non-executive director Peter Chai Mui Seng, Hartanah Kenyalang independent non-executive director Victor Fong Yoo, Hartanah Kenyalang independent non-executive director Ong Ai-Lyn and TA Securities executive director of dealing Datuk Hamzah Mohd Tahir.
PETALING JAYA: Kuching-based construction firm Hartanah Kenyalang Bhd
, which debuted on the ACE Market of Bursa Malaysia yesterday, is eyeing a range of Sarawak infrastructure projects coming on the back of the state government’s allocation of RM1bil under the state budget for the construction of roads and bridges.
Hartanah Kenyalang’s managing director, Seah Boon Tiat, said the company had tendered for building and infrastructure construction projects with an aggregate contract value of RM451mil as of April 30, 2025.
He said the company’s adoption of the Building Information Modelling system would help in these projects and enable it to move up the value chain as well as increase competitiveness through offering design and build services for building and infrastructure construction.
Seah noted that the state government continues to implement other projects under the Sarawak Water Supply Master Plan and the Sarawak Water Grid System to ensure a sustainable and uninterrupted supply across the state.
He added that the company could participate in the state’s water plan initiatives in which more than RM450mil has been allocated for this year as 2,740km of old water pipes need either replacement or upgrading.
“This conducive development augurs well for Hartanah Kenyalang to expand its business portfolio and bid for water related works from the state government in the future,” Seah said, adding that the state’s water supply coverage stood at 85.4%, with this coverage falling to 70.5% in rural areas.
He said the company “is actively tendering for jobs to build substations at various locations in Sarawak” as the state government targets at least 60% to 70% of power generation capacity by 2025 to come from renewable energy sources under the upcoming Sarawak Energy Transition Policy.
Hartanah Kenyalang’s shares closed 1.5 sen lower at 14.5 sen after opening flat. It raised RM19.3mil from the initial public offering. From the financial year ended Oct 31, 2021 (FY21) to FY24, the company’s profit after tax grew at a compounded annual growth rate of 24% per annum to RM9.2mil from RM4.8mil on revenue whose compound annual growth rate grew 55% per annum to RM127.6mil from RM34.1mil in the same period.
