30/09/2026

BIZ & FINANCE WEDNESDAY | SEPT 30, 2026

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Vantris Energy sustains profitable momentum in Q2 insurance claim and settlement. As at July 31,

Kelington secures RM172m contract for data storage manufacturing facility works PETALING JAYA: Integrated engineering solutions provider Kelington Group Bhd, through wholly owned subsidiary Kelington Technologies Sdn Bhd (KTSB). has secured a contract worth about RM172 million from a manufacturing company at Sama Jaya Free Industrial Zone in Kuching, Sarawak, for the provision of engineering and early-stage infrastructure develop ment for an advanced data storage manufacturing facility. The contract encompasses engineering and early-stage infrastructure develop ment works, including site development, foundation systems and critical high voltage power infrastructure. These works form part of the customer’s expansion project in Sarawak, which involves the design and construction of an advanced data storage manufacturing facility in Kuching. The works are expected to commence immediately and are scheduled for completion by August 2027. CEO Lim Seng development of advanced data storage manufacturing facilities and further strengthens our track record in supporting large scale projects in Malaysia.” In addition to the RM172 million contract, KTSB has also secured a previous contract and various purchase orders from the same customer, principally relating to the design and build of advanced data storage manufacturing and associated infrastructure facilities for the same project, with an aggregate value of approximately RM111 million. Together, these awards bring the aggregate value of contracts and purchase orders secured for the project to approximately RM283 million. Lim said, “The growing scope of our involvement reflects the confidence placed in our engineering and execution capabilities. We expect to secure more contracts from the customer covering various scopes of work in the coming weeks in relation to the project in Kuching. “Any material development arising there from, including the cumulative contract value, will be announced by the company, as and when required.” “Malaysia continues to attract investment in advanced semiconductor manufacturing, creating opportunities for Kelington to build on our capabilities and track record in the sector. These contract wins will also contribute positively to the group’s earnings and support earnings visibility through the completion of the works.” For the six months ended June 30, 2026, the group secured RM1.23 billion in new contracts. Including subsequent contract wins of RM2.37 billion and the RM172 million contract, total year- to-date wins stood at RM3.77 billion. With this, the group maintains robust earnings visibility in the coming years. Chuan ( pic ) said, “We are pleased to secure this latest contract, which further expands our involvement in the project. It demonstrates our ability to take on a broader role in the

undertaken during the quarter include four decommissioning projects in Thailand and Australia. The O&M segment improved its revenue in Q2’27, as new subsea work orders commenced. O&M’s

o Patami of RM75 million marks third consecutive quarter of positive results PETALING JAYA: Vantris Energy Bhd recorded profit after tax and minority interests (Patami) of RM75 million for the second quarter ended July 31, 2026 (Q2’27), marking the third consecutive quarter of positive results post restructuring. Revenue stood at RM818 million, an increase of 27% from the RM645 million posted in the first quarter of financial year 2027 (Q1’27), driven by higher activities in the engineering and construction (E&C) and operations and maintenance (O&M) segments. The group recorded earnings before interest, tax, depreciation and amortisation (Ebitda) of RM122 million in Q2’27, compared with RM208 million in Q1’27. The quarter-on-quarter decline was mainly due to foreign exchange losses of about RM66 million arising from the strengthening of the US dollar, and a significant insurance claim and settlement the group had recognised in Q1’27. Patami was RM75.3 million, lower than RM145.8 million in Q1’27, which included the investment companies (GLIC) and government linked companies (GLC) are stepping up their role in developing the domestic economy, backed by an additional RM120 billion under the GEAR-uP initiative over the next five years. Finance Minister II Datuk Seri Amir Hamzah Azizan said more than RM20 billion was invested last year, with a similar level expected this year. “So that means that target is now translating on the ground. The types of investments that they were looking at, in the discussion that we are having with GLIC, are actually aligned with the national aspiration,” he said. He said this to reporters on the sidelines of the Employees Provident Fund International Social Wellbeing Conference 2026 here yesterday. Amir Hamzah said the New Industrial Master Plan serves as a key guide for GLIC investments in sectors that are fundamental to advancing the national economy. He said GLIC and GLC are also supporting efforts to lift the floor through better wages, alongside efforts to lift the ceiling by increasing economic complexity, attracting higher-quality foreign and domestic investments and creating better jobs. More than 92% of GLC under GLIC have adopted the living wage since the beginning of this year, he added. Amir Hamzah said the move sets a new benchmark for the private sector, demon strating that companies can afford to pay workers more as productivity in the country improves. “Hopefully, we will continue this effort to drive it along the way and provide competition within it to pool talent so that the other private sectors will have to react to that,” he said. Amir Hamzah added that GLC are also supporting government programmes such as Bakat Madani , which connects graduates from universities and technical and vocational

2026, cash, deposits and bank balances stood at about RM2 billion, reflecting a stable liquidity position following the group’s finan cial restructuring.

order book stands at approximately RM1.2 billion, and the segment remains focused on expanding its presence across Southeast Asia, with an emphasis on securing contracts that support sustained and long-term utilisation of its assets. Meanwhile, the drilling segment continued to contribute positively at the operating level. Revenue was lower than Q1’27 due to reduced utilisation of two rigs during transition between contracts. To date, both rigs have since commenced new work. The segment remains supported by sustained demand for its fleet and an order book of approximately RM2.3 billion. Separately, the group is closely monitoring geopolitical developments, particularly the ongoing conflict in West Asia. While its direct exposure to the affected region remains limited, management continues to assess the potential impact on its operations and supply chain, as well as the broader market conditions.

Vantris Energy’s group order book stood at RM7 billion as at July 31, 2026, up from RM5.9 billion in Q1’27. In addition, the group’s share of the order book held under joint ventures and associates stood at RM2.7 billion. Vantris Energy group CEO Muhammad Zamri Jusoh said, “This quarter reflects continued progress in rebuilding a more sustainable operating performance. Our priority now is to convert our order book into consistent and profitable delivery. We remain focused on strengthening repeatable operating earnings through disciplined project execution, tight cost control and improved asset utilisation.” The E&C segment delivered higher revenue quarter-on-quarter, supported by increased activity from ongoing projects and the commencement of new projects across Southeast Asia and Australia. Key projects

GLIC, GLC to catalyse domestic economy with additional RM120 billion investments KUALA LUMPUR: Government-linked

Amir Hamzah (right) visits a booth after officiating the International Social Wellbeing Conference 2026. Also present are Minister in the Prime Minister”s Department (Federal Territories) Hannah Yeoh (centre) and Employees Provident Fund chairman Tan Sri Mohd Zuki Ali (back row, right). – BERNAMAPIC

economy, with investments in companies providing care workers. Amir Hamzah said Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has also made investments related to retirement villages. “What is important for the GLIC and GLC is actually to look at what the national priority is and try to find things that are relevant to the national agenda,” he said. – Bernama

education and training institutions with internship and training opportunities through the GLIC and GLC network. He added that 25,000 individuals would be given such opportunities this year and next year to help prepare Malaysia’s talent pool as the economy becomes more complex. GLIC investments are also being directed towards national priorities, including the ageing