22/08/2025

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BIZ & FINANCE FRIDAY | AUG 22, 2025

Project progress energises KAB results

Keng Onn said each milestone continues to expand the company’s capabilities and strengthen its ability to deliver sustainable long term value for shareholders. “This quarter’s performance once again reflects the consistent performance of our SES segment, which has firmly established itself as the group’s key growth engine since the strategic shift in 2022, contributing recurring earnings that now anchor our financial results. “While we continue to embrace our engineering legacy, the group’s momentum has been reinforced by major strategic wins. “Our record RM646 million EPCC contract, the FiT 2.0 approvals to develop two hydropower projects, and the 650MW repowering initiative for a decommissioned power plant in Perlis mark significant milestones that strengthen earnings visibility, reaffirm our advanced technical expertise, and position us with a clear edge to independently undertake larger-scale projects,” he said in a statement. Lai said together, these achievements position KAB to accelerate its transformation into a full-fledged Independent Power Producer (IPP), while delivering long-term shareholder value and contributing meaningfully to Malaysia’s energy transition. With a growing portfolio of long term concession projects, trusted partnerships with industry leaders, and a proven track record in SES and engineering EPCC, KAB continues to scale beyond its role as an energy and engineering solutions provider – building towards its aspiration of becoming a sustainable and trusted Malaysia based EPCC player through its engineering segment, while advancing the SES segment’s transformation into a full-fledged IPP.

o Substantial improvement in FY25 second quarter, first-half revenue and net profit reflects success of strategic transformation

KUALA

LUMPUR:

in revenue. While SES delivered more than a twofold revenue increase, KAB remains anchored by its engine ering legacy. Leveraging this foundation with bold expansion in energy excellence, the group secured its landmark EPCC contract during the quarter, fortifying its growth base and earnings visibility, with expectations of continued momentum and broader growth in FY25. The Q2’25 results attest to the group’s operational discipline and strong project execution, with KAB generating operating cash flow of RM51.1 million in H1’25, a sharp increase from RM5.8 million in the same period last year. This significant uplift reflects the group’s ability to consistently convert topline growth into real cash, reinforcing liquidity to support future expansion. Since diversifying into the energy segment, KAB has charted a clear and sustainable growth trajectory, while its engineering legacy remains a cornerstone of strength and credibility. This purposeful transformation, driven by visionary leadership, continues to deliver measurable milestones and strategic progress. With a healthy order book of RM1.34 billion and a tender pipeline of approximately RM2.78 billion, the group anticipates stronger quality earnings and an enhanced capacity to fund expansion into larger-scale projects. Executive deputy chairman and group managing director Datuk Lai

Kinergy

Advancement a sustainable energy solutions (SES) and engineering solutions provider, posted revenue of RM97.7 million in the second quarter (Q2) ended June 30, 2025 (FY25), surging 133.8% year-on-year (YoY) from RM41.8 million posted in FY24, driven by project progress across both segments. The energy segment remains the core revenue driver. At the same time, the engineering division translates this foundation into operational strength, together expected to culminate in the group’s largest EPCC contract win in the coming quarters. For H1’25, revenue rose 98.3% YoY to RM166.3 million, compared with RM83.9 million in 1H’24. Net profit attributable to shareholders rose 16.6% YoY to RM6.5 million in Q2’25, bringing H1’25 net profit to RM12.7 million, up 20.9% YoY. Earnings per share improved to 0.61 sen for the six months compared to 0.53 sen a year ago. Since FY24, the group’s strategic transformation has been evident in its segmental performance. The SES segment is now the primary contributor to both revenue and profit, delivering RM81.1 million in revenue and RM9 million in operating profit for Q2’25. This reaffirms the success of KAB’s focus on higher-margin, recurring concession-based pro jects. The engineering segment contributed a stable RM16.5 million Bhd (KAB),

Bintulu Port posts softer Q2, proposes 3 sen dividend Samalaju operations drive revenue gains, offsetting LNG slowdown at Bintulu Port. – BERNAMAPIX

KUALA LUMPUR: Bintulu Port Holdings Bhd’s net profit for the second quarter ended June 30, 2025 (Q2’25) slipped to RM34.73 million from RM39.84 million in the same quarter last year. Revenue decreased by 1.05% to RM194.82 million against RM196.89 million previously, the port operator said in a filing with Bursa Malaysia yesterday. The company said revenue from port services at Bintulu Port dropped to RM136.78 million in Q2’25 from RM145.98 million a year ago, driven by lower revenue from the handling of liquefied natural gas (LNG) cargo. However, revenue from operations at Samalaju Industrial Port rose to RM47.76 million from RM40.81 million recorded in last year’s corresponding quarter. Bintulu Port said the ex penditure during the quarter under review increased RM6.66 million to RM166.82 million compared to RM160.16 million in Q2’24 mainly on manpower and administration costs. “The board has recommended a

second interim single-tier dividend of 3 sen per share on 460 million shares, amounting to RM13.8 million in respect of the financial year ending Dec 31, 2025, to be paid on Oct 8, 2025,” it said. For the first half of 2025, the company’s net profit contracted to RM63.11 million from RM84.55 million in the corresponding period last year, while revenue dipped to RM396.52 million from RM405.57 million. On prospects, Bintulu Port said despite the reduction in revenue from handling of LNG cargo and vessel calls in the first half of 2025 due to the planned major maintenance shutdown at Malaysia LNG plants in Bintulu, revenue from LNG will still remain as the main contributor for the year. “The group envisaged the number of vessel calls and cargo volume for LNG will improve in the second half of 2025. “Other than this, there is positive growth from the vessel calling for methanol cargo and the Samalaju project cargoes,” it added. – Bernama

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