KUALA LUMPUR: Aneka Jaringan Holdings Berhad, a basement and foundation construction specialist, reported a turnaround in its financial performance for the fourth quarter ended Aug 31, 2023 (4Q FYE2023). The Group reported a revenue of RM51.52 million, a 1.10% increase compared to RM50.95 million in the corresponding quarter of the previous financial year (4Q FYE2022).
The Group achieved a gross profit of RM7.65 million for 4Q FYE2023, a sharp increase from RM2.96 million in 4Q FYE2022. Despite impairments amounting to RM2.46 million in the quarter, the Group generated a net profit of RM0.35 million in 4Q FYE2023, signifying a rebound from the net loss of RM10.47 million incurred in 4Q FYE2022.
For the full financial year ending Aug 31, 2023 (FY 2023), the Group’s generated a total revenue of RM188.58 million, up 9.59% from RM172.08 million in the previous year. The gross profit also improved significantly, transitioning from a gross loss of RM8.07 million in FY 2022 to a gross profit of RM8.61 million in FY 2023.
PT Aneka Jaringan Indonesia, the Group’s Indonesian subsidiary specialising in basement and foundation construction, also secured multiple new projects including its first ever Diaphragm Wall project valued at IDR3.58 billion (RM1.07 million), achieving a significant milestone for the subsidiary and the Group’s Indonesian expansion journey. The balance projects secured are two Bored Piling contract wins collectively valued at IDR39.77 billion (RM11.93 million).
Marking yet another major milestone, PT Aneka Jaringan Energy, the Group’s Indonesian subsidiary specialising in the EPC of Solar Photovolatic systems had received its first purchase order for the feasibility study of a 30MWp solar farm project in West Java, valued at IDR450.0 million (RM0.15 million).
The Group has since 3Q23, successfully secured new projects of contract value amounting to RM232.57 million. This brings the total project value secured for FY 2023 to RM346.09 million and has strengthened the Group’s order book for the financial year ended Aug 31, 2023 to a solid RM295.80 million.
Aneka Jaringan managing director Pang Tse Fui said, “Our entry into the Indonesian renewable energy sector through PT Aneka Jaringan Energy is a particularly exciting development. Securing our first purchase order for a feasibility study for a 30MWp solar project in West Java is a significant milestone. We are confident in our team in Indonesia and we hope to see more projects in the months ahead. Meanwhile, PT Aneka Jaringan Indonesia continues to show promising results, with its PAT continuing to grow year on year. We are also thrilled that PT Aneka Jaringan Indonesia has secured its very first diaphragm wall project, underscoring the Company’s technical prowess and also highlights the confidence our client has in our expertise and capabilities.”
He added that they maintain a cautiously optimistic outlook for the financial year ending Aug 31, 2024 and anticipate continued growth in their key revenue streams, driven by their strategic investments in innovation and cost-efficiency measures, which they believe will help them navigate potential economic uncertainties and maintain their commitment to delivering value to their stakeholders.
As of 4Q FYE2023, Aneka Jaringan's total order book has grown substantially to RM295.80 million, with Malaysian operations contributing RM282.87 million and a notable increase from Indonesian operations contributing RM12.94 million.
