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Kee Ming is also actively seeking for opportunities to penetrate into high-voltage substations for data centres and potentially tap Tenaga Nasional Bhd’s power infrastructure projects, no problem for KEEMING la
Overall revenue mix looks pretty healthy, with Malaysia still being the main contributor at 68%, while overseas markets chip in a solid 32%. On the business side, the Sourcing segment remains the key revenue driver, contributing 65.8% in Q2. Overall, a good mix of strong local demand and growing exposure to overseas markets
While the impairment is quite significant, the good thing is that it’s a non-cash adjustment, so there’s no impact on the RL’s cashflows. It also shows that the Group is taking a realistic and prudent approach in valuing the investment based on the current market price. With the investment now carried at a much lower value, this could provide a cleaner position going forward
