Kejuruteraan Asastera Berhad (KAB), a home-grown electrical and mechanical engineering specialist listed on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities), yesterday announced that it recorded a revenue of RM31.32 million and profit after tax of RM1.43 million for the fourth quarter ended 31 December 2017.
On a cumulative perspective, KAB recorded revenue of RM114.55 million and profit after tax of RM6.78 million in the 12-month ended 31 December 2017.
In comparison against the immediate preceding quarter, KAB registered higher gross profit of RM7.03 million for the fourth quarter as compared with RM5.20 million in the preceding quarter (third quarter) as a result of higher revenue and better margins generated.
The Company incurred a one-off non-recurring listing expenses amounting to RM3.34 million during the financial year ended 31 December 2017 in relation to the listing of KAB on the ACE Market of Bursa Securities.
Hence, the Company’s profit after tax excluding the non-recurring listing expenses, being the core earnings of the Company, for the cumulative period ended 31 December 2017 would have been RM9.38 million.
Datuk Lai Keng Onn, Managing Director of KAB, said, “Our performance for our 2017 financial year was satisfactory in view of the operating landscape.”
“Following KAB’s successful listing in the 4th quarter of 2017, we will now focus our efforts to grow our market share in Malaysia by increasing tendering activities, specifically for the affordable housing sector, as well as expanding our geographic footprint.”
“At the same time, we are also strengthening our capabilities by growing our mechanical engineering services segment and diversifying our revenue stream by providing maintenance services in this segment,” he added.
“Moving forward, the construction and building sectors are expected to remain vibrant, spurred by affordable housing and transportation infrastructure projects. This will augur well for KAB as we continue to enhance our presence and offerings for these sectors,” Dato’ Lai concluded.
KAB’s earnings per share for the cumulative period ended 31 December 2017 is 2.71 sen. Total assets as at 31 December 2017 is RM90.23 million.