ANEKA JARINGAN ANNOUNCES 186.41% GROSS PROFIT GROWTH IN 3Q FYE2024

Group Achieves Fourth Consecutive Profitable Quarter and Secures Pivotal New Contracts

KUALA LUMPUR, 25 JULY 2024 – Aneka Jaringan Holdings Berhad ("Aneka Jaringan" or the "Group"; Bursa: ANEKA, 0226), a basement and foundation construction specialist, is pleased to announce the financial results for third quarter ended 31 May 2024 (“3Q FYE2024”). The Group achieved a gross profit of RM4.36 million in 3Q FYE2024, marking a notable improvement of 186.41% from the gross profit of RM1.52 million in corresponding year’s same period (“3Q FYE2023”).

In 3Q FYE2024, Aneka Jaringan recorded a revenue of RM41.85 million, an increase of RM0.60 million from 3Q FYE2023. This consistent growth reflects the Group’s effective execution of projects and strategic initiatives, as well as the stable recovery in the construction industry.

Despite incurring total administrative expenses of RM3.53 million and financing costs of RM1.05 million, the Group reported a Profit After Tax (“PAT”) of RM0.55 million for 3Q FYE2024, showcasing a remarkable turnaround compared to the Loss After Tax (“LAT”) of RM2.86 million in 3Q FYE2023.

For the nine months ended 31 May 2024 (“9M FYE2024”), the Group achieved a cumulative revenue of RM154.84 million, reflecting a robust increase of RM17.78 million compared to the same period in the previous year (“9M FYE2023”). Most notably, Aneka Jaringan recorded a PAT of RM2.48 million for 9M FYE2024 compared to the RM11.84 million LAT for the corresponding year’s same period, signifying the successful turnaround by the management of the Group.

In addition to these impressive financial results, Aneka Jaringan has also secured significant new contracts, demonstrating the Group’s robust capabilities and expanding its footprint in the construction sector. The Group was awarded a contract valued at RM12.9 million by Totalbuildz Sdn. Bhd. for the Hanaz @ Jalan Mayang project, which includes earthworks, piling, pile cap, and sub-structure works. Furthermore, Aneka Jaringan received a substantial RM53.0 million Letter of Award from Grand Dynamic Builders Sdn. Bhd. on 11 July 2024 for the construction of a new logistic hub in Shah Alam, Selangor.

Managing Director of Aneka Jaringan, Pang Tse Fui said, “It is encouraging to see Aneka Jaringan's continued growth and profitability, reflecting our dedication and resilience in navigating market challenges. Our financial results for the third quarter demonstrate our ability to execute effectively and manage our operations efficiently. Alongside our financial success, we have also been consistently securing new projects, further solidifying our position in the industry. As we move forward, we remain committed to delivering value to our stakeholders and driving sustainable growth. The completion of these projects on schedule is paramount, and we will continue to focus on leveraging our order book of RM231.38 million as of 31 May 2024, ensuring timely delivery and quality execution.”