KUALA LUMPUR: Kinergy Advancement Bhd (KAB), a sustainable energy and engineering solutions provider, recorded a milestone year in FY24, posting RM244.8 million in revenue, a 22.8% increase from the previous year.
This marks the first time the group has crossed the RM200 million revenue threshold, reflecting its ongoing expansion in sustainable energy solutions and engineering services.
KAB’s exceptional performance was driven by strong growth in its sustainable energy solutions (SES) segment, which doubled revenue to RM123.5 million compared to the RM61.7 million achieved a year ago.
This more than twofold surge highlights KAB’s strong market positioning and ability to capitalise on the booming demand for sustainable energy projects, including solar, biogas, and hydropower initiatives in Malaysia and the Asean region.
The group’s engineering segment also delivered a solid performance, contributing RM119.4 million in revenue.
This segment remains integral to KAB’s holistic approach as a comprehensive provider of integrated sustainable solutions.
KAB’s net profit for FY24 stood at RM21.5 million, reflecting consistent earnings generation as the group invests strategically in new energy projects and infrastructure developments.
Executive deputy chairman and group managing director Datuk Lai Keng Onn said FY24’s performance builds on the company’s transformative journey, strengthening strategic initiatives while aligning with the nation’s aspirations for sustainable energy growth and energy transition goals.
“KAB is committed to expansion with a clear vision - not only to drive innovation within the business ecosystem through advanced energy solutions but also to sustain momentum in scaling our operations, backed by industrial recognition for our operational excellence.
“With a robust order book and a promising project pipeline, we are optimistic about the opportunities ahead as we continue playing a key role in Malaysia and Asean’s clean energy transition,” he said.
The group’s revenue sustained its upward trajectory in Q4 FY24, recording RM79.4 million, a 26.1% (RM62.9 million) increase compared to the same period last year.
Net profit for the quarter nearly doubled to RM4.9 million, compared to RM2.5 million in Q4 FY23.
The engineering segment registered a 50.5% YoY increase to RM40.6 million, supported by steady project execution.
The SES segment remained on an upward path, contributing RM37.2 million in revenue, a 3.9% year-over-year growth.
This reflects the sector’s continued development and market demand for sustainable energy solutions.
The group anticipates that the SES segment will benefit from the accelerated regional adoption of sustainable energy technologies, which is driven by favourable regulatory developments, rising environmental awareness, and increasingly ambitious corporate sustainability targets.
KAB enters 2025 with a strong order book comprising RM672 million in SES projects and RM102 million in Engineering projects.
The group’s tender pipeline, valued at RM3.4 billion, ensures earnings visibility while reinforcing its expansion strategy in the SES sector.
This solid pipeline of confirmed projects and tenders reaffirms the group’s long-term revenue stability and cements the company as the segment’s energy and engineering solutions provider.
