Kejuruteraan Asastera Berhad (‘KAB’), a home-grown electrical and mechanical engineering specialist listed on the ACE Market of Bursa Malaysia Securities Berhad, maintained its positive momentum by registering improved year-on-year performance for its second quarter ended 30 June 2018.
During the quarter under review, KAB posted revenue of RM38.51 million, which was a 29% increase, when compared with revenue of RM29.87 million registered in the corresponding quarter a year ago. Subsequently, KAB’s profit before tax during the said quarter rose to RM4.48 million from RM2.11 million last year, marking a notable increase of 112%.
From a cumulative perspective, KAB registered revenue of RM71.31 million in the first six months ended 30 June 2018. This was an improvement of 34% when compared with revenue of RM53.05 million registered over the same period a year ago. Profit before tax for the said six-month period was RM7.75 million, an increase of 67%, when compared to RM4.63 million last year.
Datuk Lai Keng Onn, Managing Director of KAB, said, “Our improved performance in the first half of 2018 can be attributed to an increase in work volume for our electrical engineering segment. This is in tandem with our commitment to expand our tendering activities as well as the continued health and vigor of Malaysia’s property and construction industries.”
“Moving forward, we look forward to securing more jobs outside Klang Valley, especially in the Northern and Southern parts of Peninsular Malaysia. We are also focused in diversifying our income stream by tendering for more mechanical engineering and maintenance jobs,” he concluded.
As at 30 June 2018, KAB’s order book stood at RM233 million with RM300 million worth of tenders still pending. KAB has successful secured total contracts valued at approximately RM49 million during the six-month period under review.
KAB’s basic earnings per share as at 30 June 2018 was 1.76 sen, an increase from 1.34 sen a year ago while net assets per share grew to RM0.15 from RM0.13 last year.
