ANEKA JARINGAN DELIVERS STRONG REVENUE OF RM54.2 MILLION IN 2Q FYE2024, MARKING ANOTHER QUARTER OF GROWTH

Construction Specialist Aneka Jaringan Reports Revenue Increase and Growing Orderbook

KUALA LUMPUR, 24 APRIL 2024 – Aneka Jaringan Holdings Berhad ("Aneka Jaringan" or the "Group"; Bursa: ANEKA, 0226), a basement and foundation construction specialist, continues to demonstrate resilience and growth in its financial performance for the second quarter ended 29 February 2024 ("2Q FYE2024"). In 2Q FYE2024, the Group recorded a revenue of RM54.22 million, showcasing a robust increase of RM11.24 million compared to 2Q FYE2023. This significant growth reflects the Group’s effective execution of projects and strategic initiatives, as well as the positive recovery in the construction industry.

Moreover, Aneka Jaringan achieved a gross profit of RM4.72 million in 2Q FYE2024, marking a notable improvement from the gross profit of RM0.40 million in 2Q FYE2023. Additionally, the Group generated other income of RM0.33 million, primarily from interest income, rental of premises, and debt recovery of RM0.22 million. Despite incurring total administrative expenses of RM3.32 million and financing costs of RM0.94 million, the Group reported a profit after tax of RM0.55 million for 2Q FYE2024, showcasing a remarkable turnaround compared to the loss after tax of RM4.36 million in 2Q FYE2023.

The Group remains optimistic about the prospects of its construction and renewable energy segment, where PT. Aneka Jaringan Energy ("PTAJE"), secured its first EPCC project worth RM0.48 million in 2Q FYE2024. Nonetheless, the recent contract win for the Kingswoodz Bukit Jalil project from Binastra Builders Sdn. Bhd. ("Binastra") further strengthens the Group’s position in the construction industry, with a total contract sum of RM16.0 million, secured by the Group in March 2024.

Managing Director of Aneka Jaringan, Pang Tse Fui said, “It is delightful to see Aneka Jaringan’s continued growth and profitability, reflecting our dedication and resilience in navigating market challenges. We are particularly pleased with the positive performance of our construction operations and the significant milestone achieved by PT. Aneka Jaringan Energy. As we move forward, we remain committed to delivering value to our stakeholders and driving sustainable growth.”

Looking ahead, Aneka Jaringan will leverage its existing order book of RM233.16 million as at 29 February 2024, focusing on the timely completion of ongoing projects to sustain its momentum.