ONE-STOP sustainable energy-cum-engineering solutions specialist Kinergy Advancement Bhd (KAB) (previously Kejuruteraan Asastera Bhd) has secured a RM31.04 mil contract to undertake electrical works for property giant Mah Sing Group Bhd’s multi-storey M Nova residential development in Kepong, Kuala Lumpur.
This award which is the second contract touching RM30 mil in November 2023, has elevated KAB’s outstanding order book value before the year concludes.
The contract entails the appointment of KAB as subcontractor to carry out electrical, telephone and extra low voltage works for three blocks of Mah Sing’s service apartment project.
There are altogether 2,080 units to be built over two phases with the first phase consisting of Tower A and Tower B with 624 units respectively on top of seven floors of carpark facilities and other amenities and a second phase in the form of Tower C with the remaining 832 residential units and a retail podium at the lower levels.
The contract awarded to KAB highlights its 26 years of proficiency and expertise in providing top-tier electrical and telecommunications infrastructure services.
“We feel delighted to be managing this project as our 13th project for Mah Sing. This contract will not only fortify our existing order book with a long-term client but also further solidify our partnership with Mah Sing,” KAB’s executive deputy chairman-cum-group managing director Datuk Lai Keng Onn pointed out.
Besides technical expertise, both KAB and Mah Sing are also committed to sustainable development, responsible business, and environmental, social, governance (ESG) practices.
“This shared commitment will enable us to collaborate effectively in creating projects that not only meet the highest standards of quality but also contribute positively to the effort of creating a sustainable and ESG-conscious ecosystem,” added Lai.
More broadly, the project win reaffirms KAB’s credentials within the construction, mechanical and engineering segment as well as the group’s existing partnership with Mah Sing as its selected initial green vendor and an early adopter of Bursa Malaysia’s Centralised Sustainability Intelligence Platform.
By selecting KAB as a vendor for its development project, Mah Sing will be able to incorporate KAB’s carbon footprint data which in turn contributes directly to Mah Sing’s own decarbonisation of its supply chain.
Both companies which have a competent track record in the construction and property segment have been actively making strides in the area of sustainability with Mah Sing’s own ESG commitment which include its own supply chain sustainability improvement programme and KAB with its successful transformation into a sustainable energy solution provider with proactive ESG and sustainability strategies.
At the close of today’s trading, KAB was up 0.5 sen or 1.39% to 36.5 sen with 11.66 million shares traded, thus valuing the company at RM710 mil. – Dec 5, 2023
