KUALA LUMPUR, 16th May 2019 – Kejuruteraan Asastera Berhad (“KAB” or the “Company”) is pleased to announce its financial performance for the first quarter ended 31th March 2019 (1Q 2019). The Company reported a total revenue of RM31.07 million and a pre-tax profit (PBT) of RM3.28 million for 1Q 2019. Revenue decreased by -5.3% while PBT increased by 0.2%, in comparison to the preceding year’s corresponding quarter’s (1Q 2018) revenue of RM32.80 million and PBT of RM3.27 million.

Year-on-year, the Company’s profit after tax and non-controlling interests (PATNCI) of RM2.37 million for 1Q 2019 was 0.4% higher than RM2.36 million reported for 1Q 2018. Earnings per share (EPS) stood at 0.74 sen versus 0.74 sen from the corresponding three-month period of last year.

Despite a drop in the Company’s revenue, the improvement in the Group’s financial performance during this period was mainly due to higher profit margin recognised to adjusted budgeted costs for several near completion projects, as well as reduction in administrative expenses and finance costs.

The Company will continue to focus on the following future plans and business
strategies for the future growth and expansion of its business: -

I. Grow its market share in Malaysia by increasing tendering activities;

II. Strengthen its capabilities by growing its mechanical engineering services
segment;

III. Diversifying its revenue stream by providing maintenance services including
upgrading, expansion, refurbishment, retrofitting and renovation projects; and

IV. In the area of technology innovation, the Company is planning to collaborate
with a software specialist to develop its own proprietary Internet-of-Things (IOT)
based software that can monitor ventilation and air-conditioning systems in
order to enhance operational efficiencies and reduce cost

As of 31th March 2019, the Company’s order book, contracts secured, and tenders are
as follows: -

I. Order book balance is approximately RM297 million;

II. Total value of contracts secured is approximately RM51 million; and

III. Approximately RM312 million worth of tenders still pending.

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