Latest news with #LaiKengOnn
The Sun
4 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
4 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
4 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
4 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.'
Focus Malaysia
30-06-2025
- Business
- Focus Malaysia
KAB unveils Kinergy WellnessLink – its CSR effort to ensure ample blood supply at national blood Bank
ONE-STOP sustainable energy and engineering solutions specialist Kinergy Advancement Bhd (KAB) (formerly Kejuruteraan Asastera Bhd) has successfully mobilised strong community support for its inaugural blood donation campaign over the weekend (June 28). The event was organised in a strategic collaboration with the Hospital Sultan Abdul Aziz Shah (HSAAS), Universiti Putra Malaysia (UPM) and the National Blood Centre. Held at HSAAS in Serdang, the campaign drew an encouraging turnout of KAB employees, business partners and members of the public. This collective effort directly contributes to the nation's blood bank by providing a vital lifeline for patients in need. The entire seamless and safe donation process was professionally managed by the dedicated medical team from HSAAS who ensured a positive experience for all donors. 'We believe in doing more than just powering industries – we're here to empower lives. Hosting this blood donation campaign under Kinergy WellnessLink is a sincere reflection of our commitment to community well-being,' commented KAB's group managing director Datuk Lai Keng Onn. 'In Malaysia, an estimated 2,000 blood donations are needed daily to maintain sufficient reserves in our national blood supply. 'We are proud that our campaign contributed toward this vital cause – a small but meaningful step in helping save lives and supporting hospitals in their life-saving missions.' For this year, KAB took a different approach to its corporate social responsibility (CSR) exercise by going beyond symbolic gestures by focusing on real, purposeful action. 'The launch of Kinergy WellnessLink reflects our commitment to creating meaningful, sustainable impact while empowering individuals and uplifting the communities we serve,' asserted Lai who is also KAB's executive deputy chairman. 'Witnessing the enthusiastic participation of our own employees alongside the wider community is truly inspiring. It reinforces our belief that corporate success is intrinsically linked to the well-being of the communities we operate in.' Added Lai: 'This successful inaugural campaign is just the beginning as we look forward to driving greater impact through on-going health and wellness initiatives that ensure awareness turn into lasting change.' – June 30, 2025
