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Year 2013 was a challenging one for the Group. Amidst
the difficult operating environment, our Group managed
to improve the revenues of our core businesses. Our focus
on our vision has enabled us to navigate our business and
operations efficiently while charting our course carefully
through unpredictable economic circumstances.
We continue to grow our business in both the public and
private sectors and position strategic resources to venture into
the oil and gas sector, for the Group to progress as planned
and move up the value chain in Structural Steel Fabrication
engineering and related disciplines. This is intended to expand
and diversify our revenue streams further as we look towards
the future.
SIGNIFICANT DEVELOPMENT
In March 2013, OceanMight Sdn Bhd, an associate company
of KKB has been licensed as Approved Service Provider by
PETRONAS, Kuala Lumpur, for the Major Category – “Offshore
Facilities Construction – Major Onshore Fabrication”. The
significance of this licence is a milestone for our Group
to venture directly into the growing oil and gas sectors, in
line with our long term ambition to expand and grow our
businesses to complement our traditional activities.
Moving forward, the Group’s strategy is to expand into
fabrication for Oil and Gas sector through its 70 acres yard,
commissioned and installed modern production systems under
covered workshops and heavy load-out jetties located at Lot
777, Block 5, Muara Tebas Land District, Kuching, Sarawak.
COMMENDABLE PERFORMANCE
Propelled by strong demand especially in our core engineering
businesses, our revenue grew 37.3% to register RM228.9
million, compared to RM166.7 million achieved in the
preceding year.
Our strong financial performance is also evident from our other
financial parameters including:
• Group’s Profit Before Taxation growth of 75.1% to record
a high of RM47.1 million, compared to RM26.9 million
registered in the preceding year.
• Group’s Profit After Taxation grew to RM35.0 million, some
59.8% growth over the preceding year record of RM21.9
million.
• Earnings per share rose to 12.98 sen, from 7.95 sen
registered in the preceding year.
• Group’s Net Asset Value (NAV) stood at RM277.6 million,
translating into a Net Asset Value of RM1.08 per share, an
8% growth over the preceding year’s NAV of RM1.00 per
share.
Chairman’s
Statement
On behalf of the Board of Directors
(“the Board”) of KKB Engineering
Berhad (“KKB”), it is my honour to
present to you our Group’s Annual
Report for the financial year ended
31 December 2013 (“FYE 2013”).
Annual Report 2013
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