Announcement • Apr 30
Kinergy Advancement Berhad, Annual General Meeting, Jun 15, 2026 Kinergy Advancement Berhad, Annual General Meeting, Jun 15, 2026, at 09:00 Singapore Standard Time. Location: the pearl kuala lumpur, in swan 3, level 7, batu 5, jalan klang lama, 58000 kuala lumpur, wilayah persekutuan, Malaysia Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: RM0.014 (vs RM0.011 in FY 2024) Full year 2025 results: EPS: RM0.014 (up from RM0.011 in FY 2024). Revenue: RM513.2m (up 110% from FY 2024). Net income: RM30.3m (up 41% from FY 2024). Profit margin: 5.9% (down from 8.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 26
Third quarter 2025 earnings released: EPS: RM0.004 (vs RM0.003 in 3Q 2024) Third quarter 2025 results: EPS: RM0.004 (up from RM0.003 in 3Q 2024). Revenue: RM155.5m (up 91% from 3Q 2024). Net income: RM7.90m (up 29% from 3Q 2024). Profit margin: 5.1% (down from 7.5% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. New Risk • Aug 24
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 22
Second quarter 2025 earnings released: EPS: RM0.003 (vs RM0.003 in 2Q 2024) Second quarter 2025 results: EPS: RM0.003 (in line with 2Q 2024). Revenue: RM97.7m (up 134% from 2Q 2024). Net income: RM6.49m (up 17% from 2Q 2024). Profit margin: 6.6% (down from 13% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Aug 14
Kinergy Advancement Berhad has completed a Follow-on Equity Offering in the amount of MYR 65.242985 million. Kinergy Advancement Berhad has completed a Follow-on Equity Offering in the amount of MYR 65.242985 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 61,266,000
Price\Range: MYR 0.325
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 57,817,788
Price\Range: MYR 0.33
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 31,096,000
Price\Range: MYR 0.33
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 48,454,500
Price\Range: MYR 0.33
Transaction Features: Subsequent Direct Listing New Risk • Jun 13
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 29% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (29% accrual ratio). New Risk • Jun 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Profit margins are more than 30% lower than last year (8.4% net profit margin). Reported Earnings • May 30
First quarter 2025 earnings released: EPS: RM0.003 (vs RM0.003 in 1Q 2024) First quarter 2025 results: EPS: RM0.003 (in line with 1Q 2024). Revenue: RM68.6m (up 63% from 1Q 2024). Net income: RM6.25m (up 26% from 1Q 2024). Profit margin: 9.1% (down from 12% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Apr 28
Kinergy Advancement Berhad, Annual General Meeting, May 29, 2025 Kinergy Advancement Berhad, Annual General Meeting, May 29, 2025, at 09:00 Singapore Standard Time. Location: function room, acacia i, level 1 of espira kinrara, jalan kinrara 6, bandar kinrara, 47180 puchong, selangor darul ehsan, Malaysia New Risk • Mar 08
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Profit margins are more than 30% lower than last year (8.8% net profit margin). Reported Earnings • Mar 01
Full year 2024 earnings released: EPS: RM0.011 (vs RM0.015 in FY 2023) Full year 2024 results: EPS: RM0.011 (down from RM0.015 in FY 2023). Revenue: RM244.8m (up 23% from FY 2023). Net income: RM21.5m (down 22% from FY 2023). Profit margin: 8.8% (down from 14% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. New Risk • Nov 22
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.8% Last year net profit margin: 15% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.8% net profit margin). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Reported Earnings • Aug 21
Second quarter 2024 earnings released: EPS: RM0.003 (vs RM0.002 in 2Q 2023) Second quarter 2024 results: EPS: RM0.003 (up from RM0.002 in 2Q 2023). Revenue: RM41.8m (down 7.2% from 2Q 2023). Net income: RM5.57m (up 66% from 2Q 2023). Profit margin: 13% (up from 7.4% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. New Risk • Jun 07
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (9.9% increase in shares outstanding). Reported Earnings • May 21
First quarter 2024 earnings released: EPS: RM0.003 (vs RM0.001 in 1Q 2023) First quarter 2024 results: EPS: RM0.003 (up from RM0.001 in 1Q 2023). Revenue: RM42.0m (down 1.7% from 1Q 2023). Net income: RM4.97m (up 105% from 1Q 2023). Profit margin: 12% (up from 5.7% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • May 01
Kinergy Advancement Berhad, Annual General Meeting, May 31, 2024 Kinergy Advancement Berhad, Annual General Meeting, May 31, 2024, at 09:00 Singapore Standard Time. Agenda: To receive the Audited Financial Statements for the financial year ended 31 December 2023 together with the Reports of the Directors and the Auditors thereon; to approve the payment of Directors fees payable to the Directors of the Company amounting to MYR 570,000.00 for the financial year ending 31 December 2024; to re-elect Mr. Lu Chee Leong, a Director who retires pursuant to Clause 76(3) of the Company's Constitution; and to consider other matters. Announcement • Apr 30
Kinergy Advancement Berhad Appoints Datuk Wira Mubarak Hussain Bin Akhtar Husin as Non Independent and Non Executive Director Kinergy Advancement Berhad appointed Datuk Wira Mubarak Hussain Bin Akhtar Husin as Non Independent and Non Executive Director, Age is 47. Date of change is 29 April 2024. He has done Masters Applied Management of Science Asia E University. Working experience and occupation Datuk Wira Mubarak Hussain bin Akhtar Husin commenced his career as Managing Director in numbers of companies starting with Seri Jaya Perkasa Sdn Bhd since 11 May 2000, which mainly involves in construction and property developments. On 18 October 2005, he founded MN Millennium Security Sdn Bhd, which primarily provides security services. On 3 October 2014, he further venture into investment holdings under a company known as Voultier Sdn Bhd. Throughout his business career, he has numerous experiences in strategic thinking, risk management and has successfully managed numerous projects, from planning, design, construction, setting-up, to the day-to-day operation. He is dedicated to adopt and promote business organizations with policies and practices which aims to achieve continuing growth in both companies returns as well as products and services offered. New Risk • Mar 07
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 1.3% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (1.3% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (9.9% increase in shares outstanding). New Risk • Mar 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 243% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (9.9% increase in shares outstanding). Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: RM0.016 (vs RM0.002 in FY 2022) Full year 2023 results: EPS: RM0.016 (up from RM0.002 in FY 2022). Revenue: RM199.4m (up 6.6% from FY 2022). Net income: RM28.7m (up RM25.8m from FY 2022). Profit margin: 14% (up from 1.5% in FY 2022). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Announcement • Feb 07
Kinergy Advancement Berhad Announces Resignation of Goh Kok Boon as Executive Director, Effective 06 March 2024 Kinergy Advancement Berhad announced resignation of Mr. Goh Kok Boon as Executive Director, age 49, gender is male, nationality is Malaysia. Date of change is 06 March 2024. Reason: Pursue personal interest. New Risk • Nov 28
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 16% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risk Shareholders have been diluted in the past year (7.6% increase in shares outstanding). Reported Earnings • Nov 25
Third quarter 2023 earnings released: EPS: RM0.011 (vs RM0.001 in 3Q 2022) Third quarter 2023 results: EPS: RM0.011 (up from RM0.001 in 3Q 2022). Revenue: RM48.6m (flat on 3Q 2022). Net income: RM20.4m (up RM19.3m from 3Q 2022). Profit margin: 42% (up from 2.2% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. New Risk • Oct 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings have declined by 19% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (7.6% increase in shares outstanding). New Risk • Aug 23
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings have declined by 19% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: RM0.002 (vs RM0 in 2Q 2022) Second quarter 2023 results: EPS: RM0.002 (up from RM0 in 2Q 2022). Revenue: RM45.1m (up 5.7% from 2Q 2022). Net income: RM3.35m (up 417% from 2Q 2022). Profit margin: 7.4% (up from 1.5% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Jul 26
KAB Energy Holdings Sdn. Bhd. completed the acquisition of Matahari Suria Sdn Bhd from Unique Forging & Components Sdn. Bhd. KAB Energy Holdings Sdn. Bhd. entered into a Share Sale Agreement to acquire Matahari Suria Sdn Bhd from Unique Forging & Components Sdn. Bhd for approximately MYR 5.3 million on August 18, 2022. Kejuruteraan Asastera acquire 1 million shares of Matahari. The gearing amount to MYR 0.57 million and EPS is MYR 0.005 million. The Proposed Acquisition is not subject to the approval of shareholders of KAB but could be subject to the approval of relevant authority(ies), if required. The Board of Directors of the Company, having reviewed and considered the terms and conditions of the SSA(s), are of the opinion that the SSA(s) are in the best interest of the Company and the terms and conditions of the SSA(s) are fair, reasonable and on terms that are not detrimental to the minority shareholders of the Company. Completion of the sale and purchase of the Sale Shares is provided to take place on the day falling within 30 days from the date by which all conditions precedent must be fulfilled or waived (I.e. Cut-off Date), where Cut-Off Date is defined as 1 month from the Latching Period. “Latching Period” is defined as a 2-month time frame commencing from the date of the SSA during which the Purchaser shall complete the due diligence exercises and the Parties may renegotiate and agree upon any terms to be incorporated into the SSA based on the findings during the due diligence or upon the advice of the Purchaser’s consultants. Therefore, in brief, if the Parties reaffirm the Proposed Acquisition on the same or varied terms of the SSA during the Latching Period, the estimated time frame for completion is 4 months from the date of the SSA. Upon completion of the Proposed Acquisition, MSSB will become a wholly-owned subsidiary of KABEH. As of March 16, 2023, The Board of KAB wishes to announce that KABEH and UFC, had mutually agreed to extend the Cut-Off Date as stipulated in the Agreement in relation to the Proposed Acquisition to May 17, 2023. As on May 16, 2023, The Board of KAB wishes to announce that KAB Energy Holdings Sdn. Bhd. and Unique Forging & Components Sdn. Bhd, had mutually agreed to extend the Cut-Off Date as stipulated in the Agreement in relation to the Proposed Acquisition to July 17, 2023.KAB Energy Holdings Sdn. Bhd. completed the acquisition of Matahari Suria Sdn Bhd from Unique Forging & Components Sdn. Bhd on July 25, 2023. New Risk • Jun 08
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings have declined by 20% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Announcement • Jun 02
Kejuruteraan Asastera Berhad Announces Redesignation of DATO' LAI KENG ONN from Managing Director to Executive Deputy Chairman Kejuruteraan Asastera Berhad announced redesignation of DATO' LAI KENG ONN from Managing Director to Executive Deputy Chairman. Date of change: 01 Jun 2023. Age 54. Gender: Male. Qualifications: Degree: Bachelor of Science in Construction Management,Greenwich University, Australia. Working experience and occupation: Dato' Lai Keng Onn ("Dato' Lai") started his career as a project manager at Wira Teknik Sdn. Bhd. from 1990 to 1996. On 24 February 1997, he founded Kejuruteraan Asastera Sdn. Bhd. His leading role as the Group Managing Director has ascended the Company from KLSE ACE Market, listed on 17 November 2017 to the Main Market of Bursa Malaysia Securities Berhad on 28 August 2020. Dato' Lai is also the founder of the power generation segment of KAB Group of Companies. The power generation business established since 2018 has augured well for the sustainable growth of the company. His exceptional management and dedicated commitment have driven the transformational journey for Kejuruteraan Asastera Berhad, which mission and vision to become a One-Stop Engineering and Energy Solutions Provider in the industry. Reported Earnings • Jun 02
First quarter 2023 earnings released: EPS: RM0.001 (vs RM0 in 1Q 2022) First quarter 2023 results: EPS: RM0.001 (up from RM0 in 1Q 2022). Revenue: RM42.8m (down 19% from 1Q 2022). Net income: RM2.43m (up 311% from 1Q 2022). Profit margin: 5.7% (up from 1.1% in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 24
Full year 2022 earnings released: EPS: RM0.002 (vs RM0.003 in FY 2021) Full year 2022 results: EPS: RM0.002 (down from RM0.003 in FY 2021). Revenue: RM190.5m (up 9.0% from FY 2021). Net income: RM2.89m (down 29% from FY 2021). Profit margin: 1.5% (down from 2.3% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 24
Third quarter 2022 earnings released: EPS: RM0.001 (vs RM0 in 3Q 2021) Third quarter 2022 results: EPS: RM0.001 (up from RM0 in 3Q 2021). Revenue: RM48.3m (up 51% from 3Q 2021). Net income: RM1.05m (up RM880.0k from 3Q 2021). Profit margin: 2.2% (up from 0.5% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 51% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent & Non-Executive Chairman Peng Ong was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: RM0 (vs RM0.001 in 2Q 2021) Second quarter 2022 results: EPS: RM0 (down from RM0.001 in 2Q 2021). Revenue: RM42.6m (up 6.2% from 2Q 2021). Net income: RM648.0k (down 53% from 2Q 2021). Profit margin: 1.5% (down from 3.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 89% per year, which means it is well ahead of earnings. Announcement • Aug 19
KAB Energy Holdings Sdn. Bhd. entered into a Share Sale Agreement to acquire Matahari Suria Sdn Bhd from Unique Forging & Components Sdn. Bhd. for approximately MYR 5.3 million. KAB Energy Holdings Sdn. Bhd. entered into a Share Sale Agreement to acquire Matahari Suria Sdn Bhd from Unique Forging & Components Sdn. Bhd for approximately MYR 5.3 million on August 18, 2022. Kejuruteraan Asastera acquire 1 million shares of Matahari. The gearing amount to MYR 0.57 million and EPS is MYR 0.005 million. The Proposed Acquisition is not subject to the approval of shareholders of KAB but could be subject to the approval of relevant authority(ies), if required. The Board of Directors of the Company, having reviewed and considered the terms and conditions of the SSA(s), are of the opinion that the SSA(s) are in the best interest of the Company and the terms and conditions of the SSA(s) are fair, reasonable and on terms that are not detrimental to the minority shareholders of the Company. Completion of the sale and purchase of the Sale Shares is provided to take place on the day falling within 30 days from the date by which all conditions precedent must be fulfilled or waived (I.e. Cut-off Date), where Cut-Off Date is defined as 1 month from the Latching Period. “Latching Period” is defined as a 2-month time frame commencing from the date of the SSA during which the Purchaser shall complete the due diligence exercises and the Parties may renegotiate and agree upon any terms to be incorporated into the SSA based on the findings during the due diligence or upon the advice of the Purchaser’s consultants. Therefore, in brief, if the Parties reaffirm the Proposed Acquisition on the same or varied terms of the SSA during the Latching Period, the estimated time frame for completion is 4 months from the date of the SSA. Upon completion of the Proposed Acquisition, MSSB will become a wholly-owned subsidiary of
KABEH. Reported Earnings • May 29
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: RM0 (down from RM0.001 in 1Q 2021). Revenue: RM53.0m (up 6.5% from 1Q 2021). Net income: RM590.0k (down 62% from 1Q 2021). Profit margin: 1.1% (down from 3.1% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 106% per year, which means it is well ahead of earnings. Announcement • May 25
Kejuruteraan Asastera Berhad announced that it expects to receive MYR 100 million in funding from Pinetree Field Sdn Bhd Kejuruteraan Asastera Berhad announced that it has signed a memorandum of understanding for gross proceeds of MYR 100 million in a round of funding on May 23, 2022. The transaction will include participation from Pinetree Field Sdn Bhd. The company will raise funding in two years. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent & Non-Executive Chairman Peng Ong was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: RM0.003 (down from RM0.004 in FY 2020). Revenue: RM174.4m (up 16% from FY 2020). Net income: RM4.35m (down 18% from FY 2020). Profit margin: 2.5% (down from 3.5% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 6.6%. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 91% per year, which means it is well ahead of earnings. Announcement • Jan 21
Kejuruteraan Asastera Berhad (KLSE:KAB) entered into term sheet agreement to acquire PT Inpola Mitra Elektrindo from Sarawak Cable Berhad (KLSE:SCABLE), Parulian Marpaung, Subari Rudi and Tiopan Hasudungan Marpaung for MYR 61.5 million. Kejuruteraan Asastera Berhad (KLSE:KAB) entered into term sheet agreement to acquire PT Inpola Mitra Elektrindo from Sarawak Cable Berhad (KLSE:SCABLE), Parulian Marpaung, Subari Rudi and Tiopan Hasudungan Marpaung for MYR 61.5 million on January 19, 2022. Sum of MYR 10,000 towards settlement of the Consideration payable by the Purchaser to SCB upon execution of the Term Sheet, the balance sum of MYR 61,490,000 or such other figure representing the Final Debt within 3 months from the Unconditional Date. Upon completion of the Proposed Acquisition, PT IME will become a wholly-owned subsidiary of KEJURUTERAAN ASASTERA BERHAD. SCB obtaining the consent from Bank of China, Parties obtaining all necessary approvals or consents of any party, that are necessary for the sale and disposal of the PT IME Shares, the fulfilment of any other conditions or matters arising from any findings from the Due Diligence, the Purchaser or SCB obtaining the necessary approval/consent from and making the necessary announcement to the relevant regulatory authority, if necessary,The shareholders of SCB and KAB for the Proposed approval. The Parties shall complete the Conditions Precedent within three months from the date of the SPA. The Purchaser shall have the right to waive any of the Conditions Precedent unless such Condition Precedent requires compliance by law the relevant regulatory authority.
If the Defaulting Party is the Purchaser, SCB shall be entitled to forfeit the First Payment, and the Purchaser shall further pay a sum of MYR 1,527,500 in aggregate representing 2.5% of the Debt Sum as agreed liquidated damages and if the Defaulting Party is SCB, then SCB shall be liable to refund all monies paid by the Purchaser in relation to the purchase of PT IME Shares and pay a further sum of MYR 1,527,500 representing 2.5% of the Debt Sum to the Purchaser. Proposed Disposal is subject to a share sale and purchase agreement to be entered into upon satisfactory completion of the due diligence exercise to be carried out on PT IME. The Term Sheet provides for a period of up to three (3) months to conduct Due Diligence. Upon the Purchaser being satisfied with the Due Diligence results, the Parties shall execute the SPA within one month from completion of Due Diligence. The Proposed Disposal is expected to be utilized by the Group for Partial repayment of SCB’s bank borrowings owed to the Lenders and expenses for the Proposed Disposal. The Proposed Disposal will not have any effect on the issued share capital of SCB. Disposal is expected to be completed by the fourth quarter of 2022.Thinkat Advisory Sdn Bhd acted as financial advisor to SCB. Reported Earnings • May 22
First quarter 2021 earnings released: EPS RM0.002 (vs RM0.001 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: RM49.8m (up 57% from 1Q 2020). Net income: RM1.56m (up 5.1% from 1Q 2020). Profit margin: 3.1% (down from 4.7% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 119% per year, which means it is well ahead of earnings. Reported Earnings • Apr 26
Full year 2020 earnings released: EPS RM0.004 (vs RM0.007 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: RM150.8m (down 5.6% from FY 2019). Net income: RM5.29m (down 49% from FY 2019). Profit margin: 3.5% (down from 6.5% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 171% per year, which means it is well ahead of earnings. Executive Departure • Apr 24
Independent Non Executive Chairman Kah Yoong has left the company On the 15th of April, Kah Yoong's tenure in the role of Independent Non Executive Chairman ended. As of December 2020, Kah personally held 30.00m shares (RM18m worth at the time). A total of 2 executives have left over the last 12 months. Executive Departure • Mar 24
Non-Independent Non-Executive Director has left the company On the 22nd of March, Chee Chan's tenure as Non-Independent Non-Executive Director ended after 2.0 years in the role. As of December 2020, Chee personally held 309.93k shares (RM325k worth at the time). Chee is the only executive to leave the company over the last 12 months. Analyst Estimate Surprise Post Earnings • Feb 28
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 6.7%. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS RM0.006 (vs RM0.012 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: RM150.8m (down 5.5% from FY 2019). Net income: RM5.43m (down 48% from FY 2019). Profit margin: 3.6% (down from 6.5% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 140% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 12
New 90-day high: RM1.23 The company is up 16% from its price of RM1.06 on 13 November 2020. The Malaysian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 2.0% over the same period. Major Estimate Revision • Dec 04
Analysts update estimates The 2020 consensus earning per share (EPS) estimate was lowered from RM0.009 to RM0.006. No change was made to the revenue estimate which at the last update was RM135.3m. Net income is expected to grow by 37% next year compared to 37% growth forecast for the Construction industry in Malaysia. The consensus price target of RM0.17 was unchanged from the last update. Share price is down by 4.0% to RM0.97 over the past week. Reported Earnings • Nov 28
Third quarter 2020 earnings released: EPS RM0.002 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: RM43.5m (down 4.7% from 3Q 2019). Net income: RM1.37m (down 50% from 3Q 2019). Profit margin: 3.1% (down from 6.0% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 115% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 14
New 90-day low: RM0.91 The company is down 15% from its price of RM1.07 on 16 July 2020. The Malaysian market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 3.0% over the same period. 
