Kinergy Advancement Berhad, a One-Stop provider of sustainable energy and engineering solutions, recorded a milestone year in FY2024, 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 booming market demand for sustainable energy projects, spanning solar, biogas, and hydropower initiatives across 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 FY2024 stood at RM21.5 million, reflecting consistent earnings generation as the Group continues to strategically invest in new energy projects and infrastructure developments.
Dato’ Lai Keng Onn, Executive Deputy Chairman and Group Managing Director of KAB, emphasized that this year’s performance reflects the company’s transformative journey, strengthening strategic initiatives aligned with the nation’s sustainable energy goals. He expressed confidence in KAB’s expansion, driven by innovation and operational excellence, with a strong order book and promising project pipeline supporting Malaysia and ASEAN’s clean energy transition.
The Group’s revenue sustained its upward trajectory in Q4 FY2024, 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 FY2023.
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% YoY growth, reflecting the sector’s continued development and market demand for sustainable energy solutions.
The Group anticipates the SES segment to benefit from the accelerated regional adoption of sustainable energy technologies, 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 its role as a trusted, premier One-Stop Energy and Engineering Solutions Provider in the segment.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
 reported a record RM244.8 million revenue for FY2024, driven by strong growth in its Sustainable Energy Solutions (SES) segment. With a solid order book, promising pipeline, and net profit of RM21.5 million, KAB is poised for continued success in Malaysia and ASEAN's clean energy transition, supported by a robust portfolio of projects and tenders.){kind=link}