Sunday 14 Jul 2024
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KUALA LUMPUR (July 1): Kinergy Advancement Bhd (KL:KAB) has partnered with Johor Corp (JCorp) to undertake and develop sustainable energy solutions projects with a specific focus on energy-efficient initiatives for data centres.

The project encompassing energy-efficient measures, renewable energy solutions, clean energy initiatives, and engineering construction across various energy-related facilities, was secured by Kinergy Advancement’s wholly-owned subsidiary, KAB Energy Holdings Sdn Bhd.

The collaboration will see Kinergy Advancement provide energy efficiency solutions, with particular focus in this collaboration on developing district cooling systems to greatly reduce data centres' overall energy consumption and enhance their power usage effectiveness.

“KAB will demonstrate enhanced engineering capabilities and competence through the engineering, procurement, construction, and commissioning development of data centres and other energy-related facilities,” the group stated in a statement on Monday.

“By having JCorp as our new partner, our confidence in driving substantial and transformative impacts has greatly increased,” said Kinergy Advancement deputy chairman-cum-group managing director Datuk Lai Keng Onn.

Meanwhile JCorp president and chief executive Datuk Syed Mohamed Syed Ibrahim said the collaboration marks significant progress in the company's sustainable efforts through innovative energy solutions.

“We recognise the critical importance of finding the right partner to enhance the efficiency of JCorp's existing assets and new projects. Kinergy Advancement has demonstrated its capabilities to deliver innovative energy solutions, and we are confident that this strategic partnership will support us in achieving our sustainability goals,” Syed Mohamed added.  

The collaboration is expected to positively impact the group’s future earnings and the company’s earnings per share for the financial year ending Dec 31, 2024.

Shares in Kinergy Advancement remained unchanged at 37 sen during Monday’s noon break, valuing the company at RM734.95 million.

Edited BySurindran Murugiah
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