Aneka Jaringan Posts RM42.98 Million in Revenue for 2Q

Group registered 14.55% increase in first-half FYE2023 revenue, with gross loss narrowing significantly

KUALA LUMPUR (27 APRIL) – Aneka Jaringan Holdings Berhad (Aneka Jaringan or the Group; Bursa: ANEKA, 0226), a basement and foundation construction specialist, announced today that the Group reported an increase of revenue to RM42.98 million for the second quarter ended 28 February 2023 (2Q FYE2023) compared with RM42.01 million in the corresponding quarter of the previous financial year (2Q FYE2022).

For the quarter under review, Aneka Jaringan recorded a gross profit of RM0.40 million compared with a gross loss of RM3.98 million in 2Q FYE2022 while the Group’s loss after tax (LAT) narrowed to RM4.36 million compared with RM6.20 million in 2Q FYE2022.

For the six months ended 28 February 2023 (1H FYE2023), the Group registered a 14.55% increase in revenue to RM95.82 million compared with RM83.65 million in the corresponding period of the previous financial year (1H FYE2022). Aneka Jaringan’s gross loss for 1H FYE2023 narrowed significantly to RM0.56 million compared with RM6.86 million in 1H FY2022 while LAT narrowed to RM8.98 million compared with RM11.61 million.

Managing Director of Aneka Jaringan, Pang Tse Fui said, “We have been steadily replenishing our order book, successfully securing three new projects worth RM46.46 million in April, while for the current financial year to date, we have secured a total of RM111.55 million in new projects. We will continue to seek opportunities in both government and private sector projects in Malaysia and Indonesia that meet our standards.”

“For Malaysian operations, the Group will maintain current capacity after successfully increasing its labour force via the quota to recruit 150 foreign workers granted in September 2022. We are anticipating the announcement of contracts for the RM45 billion MRT Line 3 project around the middle of this year while for the Indonesian operations, we will continue to invest and grow our market presence there by increasing our capacity via the acquisition of new machinery.”

As of 28 February 2023, Aneka Jaringan’s total order book stood at RM103 million, of which Malaysian operations contributed RM86 million, with Indonesian operations contributing RM17 million. Tender book in Malaysia were valued at RM1.12 billion while tender book in Indonesia were valued at RM68 million as of 31 March 2023.