Kejuruteraan Asastera Bhd (KAB), a home-grown electrical and mechanical engineering specialist listed on the ACE Market of Bursa Malaysia), yesterday declared a single-tier interim dividend of 0.5 sen per share, amounting to RM1.6 million, for the financial year ending 31 December 2018. This marks the Company’s inaugural dividend payout since its recent listing on 17 November 2017.
The interim dividend is payable on 6 April 2018. The ex-date is 9th March 2018 and entitlement date is 13 March 2018.
Datuk Lai Keng Onn, Managing Director of KAB, said, “We are happy to be able to reward our shareholders with an interim dividend for the current financial year based on the encouraging results we have achieved for the financial year ended 31 December 2017 and the positive outlook for KAB in 2018.”
“Moving forward, the construction and building sectors in Malaysia are expected to be vibrant, spurred by affordable housing and transportation infrastructure projects that are spearheaded by the public and private sectors. This will augur well for KAB as we continue to enhance our presence and offerings for these sectors.”
“Concurrently, we are also strengthening our capabilities by growing our mechanical engineering services segment and diversifying our revenue stream by providing maintenance services that can generate sustained and recurrent income for KAB,” he concluded.
For the financial year ended 31 December 2017, KAB recorded an unaudited revenue of RM114.55 million and profit after tax of RM6.78 million. 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.
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.