KUALA LUMPUR: Kinergy Advancement Bhd, a provider of energy and engineering solutions, has introduced a new brand and logo to reflect its commitment to expanding its sustainable energy solutions (SES) business.
Kinergy group managing director Datuk Lai Keng Onn said the name change signified the revitalisation of the company's commercial operations with the SES sector, which represents the way forward in achieving sustainable growth.
"We have made significant strides in our SES segment over the years and with its strong financial performance thus far, we are confident that the SES segment will underpin the group's continued growth moving forward.
"Kinergy will sustain the momentum of our SES segment by targeting new clients and exploring potential opportunities across Southeast Asia. This strategic approach aligns with the increasing demand for SES as countries in the region enhance their commitment to clean and sustainable energy," he said at the launch today.
In 2022, the company's SES segment had robust growth, contributing 32 per cent to its overall net profit after tax.
Kinergy increased its quarterly revenue by 780.9 per cent year-on-year (YoY) to RM2.68 million in its first quarter of 2023 (1Q23) from RM0.30 million in the previous year's equivalent period.
It also began its net zero journey in 2022, with a goal of saving 50 per cent of its SES asset portfolio's greenhouse gas (GHG) emissions in the next year.
The company said it was poised for substantial growth with strategic acquisitions, including a biogas plant and mini hydroelectric power plant in Indonesia.
It is set to develop a gas-fired power plant in partnership with Petronas Gas Bhd, representing its largest SES venture to date at RM230.0 million and strengthening its position in the industry.
Lai said Kinergy was expanding its regional presence in the SES sector and would be making an upcoming announcement regarding the developments.