Kinergy Development Berhad (KAB), a One-Cease supplier of sustainable power and engineering options, recorded a milestone yr in FY2024, posting RM244.8 million in income, a 22.8% enhance from the earlier yr. This marks the primary time the Group has crossed the RM200 million income threshold, reflecting its ongoing growth in sustainable power options and engineering providers.
KAB’s distinctive efficiency was pushed by sturdy development in its Sustainable Vitality Options (“SES”) section, which doubled income to RM123.5 million in comparison with the RM61.7 million achieved a yr in the past. This greater than twofold surge highlights KAB’s sturdy market positioning and skill to capitalise on booming market demand for sustainable power tasks, spanning photo voltaic, biogas, and hydropower initiatives throughout Malaysia and the ASEAN area.
The Group’s Engineering section additionally delivered a stable efficiency, contributing RM119.4 million in income. This section stays integral to KAB’s holistic strategy as a complete supplier of built-in sustainable options.
KAB’s web revenue for FY2024 stood at RM21.5 million, reflecting constant earnings technology because the Group continues to strategically spend money on new power tasks and infrastructure developments.
Dato’ Lai Keng Onn, Govt Deputy Chairman and Group Managing Director of KAB, emphasised the corporate’s dedication to sustainable power development and innovation. He highlighted KAB’s strategic growth, operational excellence, and powerful challenge pipeline, positioning the corporate as a key participant in Malaysia and ASEAN’s clear power transition.
The Group’s income sustained its upward trajectory in This fall FY2024, recording RM79.4 million, a 26.1% (RM62.9 million) enhance in comparison with the identical interval final yr. Web revenue for the quarter almost doubled to RM4.9 million, in comparison with RM2.5 million in This fall FY2023.
The Engineering section registered a 50.5% YoY enhance to RM40.6 million, supported by regular challenge execution. The SES section remained on an upward path, contributing RM37.2 million in income, a 3.9% YoY development, reflecting the sector’s continued improvement and market demand for sustainable power options.
The Group anticipates the SES section to learn from the accelerated regional adoption of sustainable power applied sciences, pushed by beneficial regulatory developments, rising environmental consciousness, and more and more formidable company sustainability targets.
KAB enters 2025 with a powerful order e book, comprising RM672 million in SES tasks and RM102 million in Engineering tasks. The Group’s tender pipeline, valued at RM3.4 billion, ensures earnings visibility whereas reinforcing its growth technique within the SES sector. This stable pipeline of confirmed tasks and tenders reaffirms the Group’s long-term income stability and cements its position as a trusted, premier One-Cease Vitality and Engineering Options Supplier within the section.
