ONE-STOP sustainable energy and engineering solutions specialist Kinergy Advancement Bhd (KAB) (formerly Kejuruteraan Asastera Bhd) has announced its successful re-classification under Bursa Malaysia’ newly introduced “Renewable Energy” (RE) sub-sector within the Energy and Utilities sector.
This re-classification which came into effect today (Jan 13) was highlighted during the RE sub-sector lunch event held today (Jan 13) at Bursa Malaysia.
Accordingly, Bursa Malaysia Securities Bhd has updated the sector and sub-sector classification for 13 listed entities currently identified as operating within the RE space.
Today marks yet another milestone for KAB following its prestigious recognition in TIME’s The Intelligent Investor: Special Focus on Malaysia published on Dec 30, 2024.
This acknowledgment re-affirms KAB’s position as an energy industry leader which is hailed for driving true innovation, fostering strategic growth and consistently delivering transformative value.
“Our re-classification is a validation to the strength and clarity of our strategic vision,” stated KAB’s group managing director Datuk Lai Keng Onn.
“We are energised to move forward with sustainable and innovative solutions that will shape and redefine industry benchmarks.”
Added Lai who is also KAB’s executive deputy chairman: “Our proven financial performance since embarking on diversification highlights the success of our expansion strategy which has transformed KAB into the dynamic energy company we are today.
“Receiving this prestigious recognition is a reflection of our relentless pursuit of excellence and our capacity to meet the evolving demands of the energy sector. This milestone reflects six years of impactful progress, marked by our consistent alignment of operations and values.”
Meanwhile, Bursa Malaysia’s director (origination & listing) Leong See Meng has described the re-classification under the RE sub-sector as “underscoring the immense potential of Malaysia’s RE landscape”.
“Private sector innovation will be instrumental in achieving the nation’s ambitious goal of reaching 70% RE capacity by 2050,” he remarked.
“This milestone enhances visibility for listed companies and fosters collaboration and innovation. I also extend my gratitude to all stakeholders for their unwavering support, hard work and dedication in making this progress possible.”
At the close of today’s (Jan 13) trading, KAB was unchanged at 34.5 sen with 5.82 million shares traded, thus valuing the company at RM717 mil. – Jan 13, 2025
