KUALA LUMPUR: UUE Holdings Bhd
's net profit more than quadrupled to RM9.04mil in the first quarter ended May 31, 2026, from RM1.69mil a year earlier, as revenue rose 88.8% to a record RM61.2mil.
The underground utilities engineering solutions provider said the stronger performance was driven by growth in both its Malaysia and Singapore operations.
Revenue from its Singapore business increased more than ninefold to RM9.9mil, while revenue from Malaysia grew 63.7% to RM51.3mil.
Gross profit surged 130% to RM17.7mil, supported by stronger operating leverage and higher-margin engineering projects in Singapore.
“Stripping out a one-off employee share option scheme expense of RM0.2mil, the group’s adjusted profit before tax and adjusted PAT accelerated 345.9% and 448.4% respectively, to RM11.8mil and RM9.3mil,” UUE said in a statement.
Year-to-date, UUE has secured RM64.7mil worth of new contracts, lifting its outstanding order book to approximately RM515.2mil, comprising projects in Malaysia and Singapore. The order book is expected to provide earnings visibility for up to 36 months.
Managing director Datuk Dr Ting Kok Hwa said the group remains well positioned to capitalise on growing demand for underground utility infrastructure in Malaysia and Singapore.
"As AI-driven digitalisation and data centre investment gather pace, demand for underground utility infrastructure is expected to remain robust. Leveraging our proven expertise in underground utilities engineering and HDPE pipe installation, UUE is well positioned to support critical infrastructure development at both the initial utility deployment stage and the final connectivity phase.
"Over in Singapore, we have successfully navigated the transition from last year's project cycles and are experiencing stronger execution momentum as projects progress steadily with the necessary regulatory approvals in place."
