KUALA LUMPUR: Kinergy Advancement Bhd
(KAB) via its unit KAB Energy Holdings Sdn Bhd has entered into a collaboration with Johor Corp (JCorp) to advance Malaysia’s sustainable energy landscape.
In a statement, it said the partnership with Johor’s principal development agency encompasses opportunities to develop customised energy-efficient projects for data centres, renewable energy (RE), clean energy (CE) initiatives for energy-related facilities and engineering projects primarily for data centres or other related facilities under JCorp.
KAB said it would leverage its expertise to provide energy efficiency solutions, with a particular focus on developing district cooling systems to greatly reduce data centres’ overall energy consumption and enhance their power usage effectiveness.
It added that it would demonstrate enhanced engineering capabilities and competence through the engineering, procurement, construction and commissioning development of data centres and/or other energy-related facilities.
Additionally, KAB’s technical proficiency in RE and CE solutions will also extend to other initiatives within JCorp.
The promotion of RE export through Third-Party Access Programmes or other renewable energy schemes will be further pursued to supply RE to JCorp and its related business, supporting them in meeting and achieving their sustainability goals.
For the first quarter ended March 31, 2024, KAB’s net profit doubled to RM4.97mil from RM2.43mil, underpinned by the steady performance of the group’s sustainable energy segment (SES). KAB said the SES segment generated revenue of RM19.86mil.
“Since KAB’s strategic pivot to SES, the group has consistently surpassed its own records, achieving new heights each year.”
Revenue during the quarter was flat at RM42.04mil, compared with RM42.76mil a year earlier, while basic earnings per share stood at 0.25 sen compared with 0.13 sen previously.
In a filing on its quarterly financial performance, KAB said the group is expected to be able to continue to meet all obligations in accordance to the respective project timelines as agreed with the project owner and/or main contractor during the award of respective projects.
