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Kawan Renergy, through its subsidiaries, is principally involved in the design, fabrication, installation, and commissioning of industrial process equipment, process plants as well as renewable energy and co-generation plants.
The company’s engineering solutions are applicable to a wide range of industries, such as food processing, oleochemical, and chemical processing, oil and gas, waste recovery, power plant and utilities.
In addition to this, Kawan Renergy is also an independent power producer involved in power generation and sale of electricity.
The ownership structure of Kawan Renergy Berhad (KENERGY) is as follows:
General Public: Holds 110,000,000 shares, which represents 20% of the company.
Individual Insiders: Hold 440,000,000 shares, which represents the remaining 80% of the company.
The top three shareholders own 80% of the company:
Lim Lai holds 429,000,000 shares.
Chong Choong holds 6,160,000 shares.
Heng Aun holds 4,840,000 shares.
Kawan Renergy recently made its debut on the ACE Market of Bursa Malaysia after an initial public offering (IPO) that raised RM33 million. The IPO involved an offer of 144.5 million ordinary shares, including 110 million new shares representing 20% of the enlarged share capital and an offer for sale of 34.5 million existing shares (6.3% of the enlarged share capital) by way of private placement to selected investors.
The public portion of Kawan Renergy’s IPO was oversubscribed 94.99 times.
The company’s products are used in various industries such as food processing, oleochemicals, chemical processing, oil and gas, waste recovery, power plants, and utilities.
Proceeds from the IPO will be allocated for working capital, investment in a new 2MW power plant, output improvements, machinery upgrades, and repayment of bank borrowings and listing expenses.
In its most recent results announcement, Kawan Renergy registered a net profit of RM4.2 million in the first quarter ended January 31, 2024, with revenue of RM19.95 million. In FY23, the company posted a profit after tax of RM13.3 million compared to RM14.23 million in FY22, with revenue of RM98.38 million against RM139.18 million in the preceding year.
