Monday, May 23

KAB transfers to Main Market of Bursa


KUCHING: Kejuruteraan Asastera Berhad (KAB) announced its transfer from the ACE Market to the Main Market of Bursa Malaysia Securities Bhd effective today.

“This is a major milestone for us and we are delighted to have finally made our successful debut on the Main Market after all the years of hard work and dedication.

“We would like to take this opportunity to thank all our stakeholders consisting our management, staff, business partners, customers, and shareholders for their continuous support in bringing KAB to where we are today, a billion ringgit company in the Main Market,” remarked KAB’s managing director, Datuk Lai Keng Onn in a statement.

The Main Market listing will give the group three significant benefits, including strengthening its competitive advantage to supplement growth plans,

customer acquisitions and expansion of businesses with recurring income; elevate KAB’s profile among customers (domestic and foreign) and other key stakeholders, and strengthen its shareholder base with higher institutional participation.

“We have great ambitions ahead and have already established a blueprint in businesses with strong prospects, such as energy efficiency, solar power, co-generation and waste heat recovery as well as new technology.

“We want to continue strengthening our presence in our core business and new businesses to help KAB grow to greater heights.

“We believe there will be opportunities present in this crisis and being in the Main Market will provide the capital for us to significantly grow our customer base, which will lead to better growth in our top and bottom lines.

“We are very optimistic on the future of the group,” Lai added.