ANEKA JARINGAN REPORTS RM58.78 MILLION REVENUE AND RECORDED PROFIT IN 1Q FYE2024

Group Witnesses Notable Year-Over-Year Recovery and Expansion in Indonesia

KUALA LUMPUR, 23 JANUARY 2024 – Aneka Jaringan Holdings Berhad ("Aneka Jaringan" or the "Group"; Bursa: ANEKA, 0226), a basement and foundation construction specialist, is pleased to announce a significant year-over-year financial turnaround for the first quarter ended 30 November 2023 ("1Q FYE2024"). The Group generated a revenue of RM58.78 million in 1Q FYE2024, an increase of RM5.94 million or 11.23% compared to RM52.85 million in 1Q FYE2023. This revenue growth was mainly due to the increase in jobs for the period.

The Group achieved a gross profit of RM3.05 million in 1Q FYE2024, in stark contrast to a gross loss of RM0.95 million in same quarter of the previous year (“1Q FYE2023”). Following this strong performance, it's noteworthy that this quarter marks the second consecutive period of profitability for Aneka Jaringan. The Group previously reported a profit after tax of RM0.35 million in the last quarter (“4Q FYE2023”), reinforcing the momentum in its financial recovery and growth trajectory.

The Group also reported a notable improvement in bottom line, with a profit after tax of RM1.39 million for 1Q FYE2024, compared to a loss after tax of RM4.62 million in 1Q FYE2023. This improvement is a testament to the Group's enhanced operational efficiency and project management capabilities.

On a quarter-over-quarter basis, Aneka Jaringan experienced a 14.10% increase in revenue, rising from RM51.52 million in 4Q FYE2023 to RM58.78 million in 1Q FYE2024. The Group's profit before tax and profit after tax demonstrated significant growth, increasing by 22.01% and 292.35% to RM1.53 million and RM1.39 million, respectively, in 1Q FYE2024.

Managing Director of Aneka Jaringan, Pang Tse Fui said, "Our performance in 1Q FYE2024 not only demonstrates our ability to adapt and thrive in challenging market conditions but also marks a significant milestone in our recovery plan, with the company being profitable since last quarter, 4Q FYE2023. We are particularly encouraged by PT Aneka Jaringan Indonesia’s (“PTAJI”) growth in Indonesia, which is a testament to our strategic focus on diversification and expanding our geographical footprint. The progress made in recent quarters lays a solid foundation for our continued recovery and sustainable growth as we have recorded profit for two consecutive quarters. We are committed to maintaining this positive trajectory and delivering sustained value to our stakeholders in FYE2024 and beyond."

As of 1Q FYE2024, Aneka Jaringan's total order book has grown substantially to RM253.59 million, with Malaysian operations contributing RM227.69 million and a notable increase from Indonesian operations contributing RM25.90 million.