Latest news with #KAB
Focus Malaysia
2 days ago
- Business
- Focus Malaysia
Kinergy lands green industry enthusiast Gan Kong Hiok as substantial shareholder
MAIN Market-listed one-stop provider of sustainable energy and engineering solutions, Kinergy Advancement Bhd (KAB) (formerly Kejuruteraan Asastera Bhd) has found a new substantial shareholder in Datuk Gan Kong Hiok. The enterprising businessman had acquired 63.33 million shares in KAB on July 24 through a direct business transaction to raise his shareholding level to 128.61 million shares which are equivalent to a 6.05% stake, according to a Bursa Malaysia filing today (July 28). Widely recognised within Malaysia's corporate circles for his disciplined investment philosophy and a strong commitment to long-term value creation, Gan had previously served as executive director and managing director at PK Resources Bhd, significantly contributing to its expansion until his stepping down in 2007. A graduate of University of Aston and Oxford, Gan is currently involved prominently as a major investor and board member in several reputable companies, including Nextgreen Global Bhd – a leading green technology enterprise in Malaysia where he holds over a 12% stake. Known for his strategic patience, steady accumulation approach and a strong conviction in transformative sectors such as green technology, Gan exemplifies an investment philosophy centred on companies with long-term growth trajectories. Gan's pursuit of businesses with sustainable growth potential reinforces confidence in KAB's strategic direction and strengthens its position within its respective industry. At the close of today's trading, KAB was unchanged at 33 sen with 3.19 million shares traded, thus valuing the company at RM702 mil. – July 28, 2025
The Sun
6 days ago
- Business
- The Sun
SunBiz 2025-07-24 03:58 PM
KUALA LUMPUR: Kinergy Advancement Bhd (KAB), through its wholly owned subsidiary KAB Energy Holdings Sdn Bhd, has secured feed-in approvals for two hydropower projects under the Sustainable Energy Development Authority's (SEDA) Feed-in Tariff (FiT) 2.0 initiative. This latest milestone adds a combined installed capacity of 8.04 megawatts (MW), comprising two facilities with outputs of 5.2 MW and 2.84 MW, respectively. Building on the success of its mini-hydropower project in Indonesia, acquired in August 2023 and powered by environmentally friendly run-of-river technology, the group is now expanding its hydropower footprint in Malaysia through these newly approved projects under SEDA's FiT 2.0 programme. As these projects progress, KAB's Sustainable Energy Solutions (SES) segment is poised to benefit from stable, recurring revenue over 21 years, enabled by SEDA's structured tariff framework. Under the scheme, the approved tariff rates are fixed at RM0.34/kWh for the first 10 years and RM0.32/kWh for the following 11 years. The group's strategic move to initiate its renewable energy (RE) journey with the Indonesian mini-hydropower project is now bearing fruit—fueling tangible growth and strengthening its domestic presence in Malaysia. KAB executive deputy chairman and group managing director Datuk Lai Keng Onn said the company's progression from Indonesia to Malaysia reflects the scalability and synergy of its SES segment. 'We continue to unlock the growth potential of our sustainable energy portfolio. The approval of more than 8.0 MW demonstrates a well-aligned regional strategy and reaffirms the group's commitment to advancing sustainable energy development across Southeast Asia. 'We aim to contribute meaningfully to Malaysia's energy transition goals by ensuring each initiative delivers impactful, long-term economic growth—while most importantly, enhancing national energy security,' he said in a statement. SEDA's FiT 2.0 initiative is designed to promote renewable energy investment, create jobs, and accelerate Malaysia's shift toward cleaner energy sources. Its transparent online bidding process has increased industry participation, boosted investor confidence, and supported the development of renewable energy infrastructure nationwide.
The Sun
6 days ago
- Business
- The Sun
KAB wins SEDA FiT 2.0 nod for two hydropower projects with 21-year fixed tariff
KUALA LUMPUR: Kinergy Advancement Bhd (KAB), through its wholly owned subsidiary KAB Energy Holdings Sdn Bhd, has secured feed-in approvals for two hydropower projects under the Sustainable Energy Development Authority's (SEDA) Feed-in Tariff (FiT) 2.0 initiative. This latest milestone adds a combined installed capacity of 8.04 megawatts (MW), comprising two facilities with outputs of 5.2 MW and 2.84 MW, respectively. Building on the success of its mini-hydropower project in Indonesia, acquired in August 2023 and powered by environmentally friendly run-of-river technology, the group is now expanding its hydropower footprint in Malaysia through these newly approved projects under SEDA's FiT 2.0 programme. As these projects progress, KAB's Sustainable Energy Solutions (SES) segment is poised to benefit from stable, recurring revenue over 21 years, enabled by SEDA's structured tariff framework. Under the scheme, the approved tariff rates are fixed at RM0.34/kWh for the first 10 years and RM0.32/kWh for the following 11 years. The group's strategic move to initiate its renewable energy (RE) journey with the Indonesian mini-hydropower project is now bearing fruit—fueling tangible growth and strengthening its domestic presence in Malaysia. KAB executive deputy chairman and group managing director Datuk Lai Keng Onn said the company's progression from Indonesia to Malaysia reflects the scalability and synergy of its SES segment. 'We continue to unlock the growth potential of our sustainable energy portfolio. The approval of more than 8.0 MW demonstrates a well-aligned regional strategy and reaffirms the group's commitment to advancing sustainable energy development across Southeast Asia. 'We aim to contribute meaningfully to Malaysia's energy transition goals by ensuring each initiative delivers impactful, long-term economic growth—while most importantly, enhancing national energy security,' he said in a statement. SEDA's FiT 2.0 initiative is designed to promote renewable energy investment, create jobs, and accelerate Malaysia's shift toward cleaner energy sources. Its transparent online bidding process has increased industry participation, boosted investor confidence, and supported the development of renewable energy infrastructure nationwide.
Focus Malaysia
6 days ago
- Business
- Focus Malaysia
Kinergy's subsidiary gets SEDA FiT 2.0 nod for 2 hydropower projects with 21-year fixed tariff
KINERGY Advancement Bh (KAB), a Main Board-listed one-stop provider of sustainable energy and engineering solutions, has successfully secured feed-in approvals for two hydropower projects under the Sustainable Energy Development Authority's (SEDA) FiT 2.0 initiative. Achieved through its wholly owned subsidiary KAB Energy Holdings Sdn Bhd, the latest milestone adds a total installed capacity of 8.04MW comprising two facilities with outputs of 5.2 megawatts (MW) and 2.84MW. Building on the success of the group's mini-hydropower project in Indonesia – acquired in August 2023 and also powered by run-of-river technology known for minimal environmental impact – the group is now expanding its hydropower footprint with two locally approved projects under the SEDA's FiT 2.0 programme. As these local projects advance, the SES segment will benefit from predictable, recurring revenue over a period of 21-year period through SEDA's structured tariff framework. With a fixed tariff of 34 sen/kWh for the first 10 years and 32 sen/kWh for the subsequent 11 years, the group's bold move to initiate its renewable energy (RE) portfolio through its mini-hydropower project in Indonesia is now translating into tangible growth and stronger local presence. 'This progression from Indonesia to Malaysia highlights our SES segment's scalability and synergy as we continue to unlock the growth potential of our sustainable energy portfolio,' commented KAB's group managing director Datuk Lai Keng Onn. 'The approval of over 8.0MW reflects a well-aligned regional strategy that reinforces the group's commitment to sustainable energy development across Southeast Asia.' Added Lai who is also KAB's executive deputy chairman: 'We aspire to continue contributing to Malaysia's energy transition goals by ensuring that each initiative delivers significant sustainable economic growth while strengthening our national energy security.' SEDA's FiT 2.0 initiative is designed to encourage investment in RE, drive job creation and accelerate Malaysia's transition towards more sustainable energy sources. The initiative's transparent online bidding process has enhanced industry participation, investor confidence and the development of renewable energy infrastructure nationwide. At the close of today's (July 24) mid-day trading break, KAB was down 0.5 sen or 1.52% to 32.5 sen with 4.24 million shares traded, thus valuing the company at RM691 mil. – July 24, 2025
The Star
6 days ago
- Business
- The Star
KAB subsidiary bags two hydropower projects under SEDA FiT 2.0
KUALA LUMPUR: Kinergy Advancement Bhd (KAB) via its wholly-owned subsidiary KAB Energy Holdings Sdn Bhd has secured fee-in approvals for two hydropower projects under the Sustainable Energy Development Authority's (SEDA) FiT 2.0 initiative. In a statement, the one-stop provider of sustainable energy and engineering solutions said the two projects have outputs of 5.2MW and 2.84MW, for an additional installed capacity of 8.04MW. It said the SES segment will benefit from predictable, recurring revenue over a 21-year period through SEDA's structured tariff framework. "With a fixed tariff of 34 sen/kWh for the first 10 years and 32 sen/kWh for the subsequent 11 years, the group's bold move to initiate its RE portfolio through its mini-hydropower project in Indonesia is now translating into tangible growth and a stronger local presence," it said. The projects build on the group's mini-hydropower project in Indonesia, which was acquired in August 2023 and also powered by run-of-river technology known for minimal environmental impact. KAB executive deputy chairman and group managing director Datuk Lai Keng Onn said the progression from Indonesia to Malaysia highlights the SES segment's scalability and synergy as it continues to unlock the growth potential of the sustainable energy portfolio. "We aspire to continue contributing to Malaysia's energy transition goals, ensuring that each initiative delivers significant, sustainable economic growth - while more importantly, strengthening our national energy security.'
