What KUB Malaysia Berhad does

JAG Capital Berhad (formerly KUB Malaysia Berhad) is a Malaysian investment holding company listed on the Main Market of Bursa Malaysia Securities Berhad, with operations spanning five distinct business segments. Under the Solar Gas brand, the company imports, bottles, markets and distributes Liquefied Petroleum Gas (LPG) to industrial, commercial and consumer customers across Peninsular Malaysia. Through its Cables and Building Materials (CBM) segment, it manufactures and supplies low to medium-voltage copper and aluminium power cables, plumbing fittings, ceramic sanitary ware, and engineering and civil works services for the power sector. The Agro segment owns and manages two palm oil estates in Mukah, Sarawak, producing Fresh Fruit Bunches (FFB) for the palm oil market. The ICT Solutions segment provides integrated telecommunications solutions spanning infrastructure development and ICT equipment supply to private and public sector clients. A residual Others segment handles property management and investment holding activities.

The company generates revenue through a mix of transaction-fee based LPG distribution, hardware sales in cables and building materials, agricultural commodity sales, and managed services in property and corporate functions. Customer segmentation is horizontal, with named segments across Industrial, Commercial, Consumer, Power Sector, Government, Private Sector and Agriculture. Headcount sits in the 501-1,000 range and the headquarters are at Hampshire Place, Kuala Lumpur. The firm traces its incorporation to 1965 and underwent a corporate rebranding from KUB Malaysia Berhad to JAG Capital Berhad, with no specific funding rounds, M&A activity, or leadership changes disclosed in the available source data. Disclosed financials show reported revenue figures that appear to scale substantially year-on-year (2023 through 2025), though the absolute figures provided in the input contain unit-formatting ambiguities that limit direct comparability to peer benchmarks.

Name

KUB Malaysia Berhad

Legal name

JAG CAPITAL BERHAD 196501000205 (6022-D)

Website

https://kub.com

Company type

Public

Founded year

1965

Operating status

Operating

Headcount range

501–1,000 employees

Short description

JAG Capital Berhad (formerly KUB Malaysia Berhad) is a Bursa Malaysia Main Market-listed investment holding company operating five segments: Solar Gas LPG distribution across Peninsular Malaysia, power cables and building materials manufacturing, palm oil estates in Sarawak, ICT infrastructure solutions, and property management.

Ownership category

akta.pro rank

Product category

Diversified Industrial Holdings

NAICS

Management of Companies and Enterprises (55111), Natural Gas Distribution (22121)

SIC

Natural Gas Distribution (4924), Oil & Gas Field Services, Nec (1389), Public Warehousing & Storage (4220)

akta.pro primary industry

Multi-Site SMB Retail Supply & Portfolio Management (EUAGABAL)

akta.pro secondary industries

Civil & Site Works EPC (Earthworks, Roads, Drainage, Foundations) (EUAEADAA), SCADA, Controls & Communications Integration (RTU, Fiber, Networking) (EUAEADAD)

Keywords

• LPG distribution
• Power cable manufacturing
• Palm oil plantations
• ICT infrastructure solutions
• Investment holding company

Headquarters

HQ city

Petaling Jaya

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. LPG Distribution: Import, bottle, market and distribute Liquefied Petroleum Gas (LPG) for industrial, commercial and consumer customers under the Solar Gas brand. Operating a cross-Peninsular Malaysia LPG distribution network.
2. Cables and Building Materials (CBM): Manufacturing and supplying low to medium-voltage copper and aluminium power cables, plumbing fittings and ceramic sanitary ware, along with engineering and civil works services in the power sector.
3. Agro (Oil Palm): Owning and managing palm oil estates in Mukah, Sarawak, producing Fresh Fruit Bunches (FFB) for the palm oil market.
4. ICT Solutions: Providing integrated solutions for telecommunications, spanning infrastructure development to the supply of ICT equipment and services to private and public sector clients.
5. Property Management and Investment Holding: Property management, investment holding and provision of management services.

Distribution channels3 records

Marketing channels1 record

Core offering

KUB Malaysia Berhad (now known as JAG Capital Berhad) is an investment holding company that operates five core business segments: Solar Gas (importing, bottling, marketing and distributing Liquefied Petroleum Gas for industrial, commercial and consumer customers across Peninsular Malaysia); Cables and Building Materials (manufacturing and supplying low to medium-voltage copper and aluminium power cables, plumbing fittings, ceramic sanitary ware, and engineering/civil works services for the power sector); Agro (owning and operating two palm oil estates in Mukah, Sarawak producing Fresh Fruit Bunches); ICT Solutions (telecommunications infrastructure development and supply of ICT equipment and services to private and public sector clients); and Others (property management, investment holding and management services).

Product overview

KUB Malaysia Berhad (now JAG Capital Berhad) is an investment holding company with a diversified portfolio of five core business segments. The company operates Solar Gas (LPG distribution), Cables and Building Materials (power cables, plumbing, sanitary ware), Agro (oil palm plantations), ICT Solutions (telecommunications infrastructure), and property/investment management services. These operate as distinct business units under unified corporate ownership rather than as an integrated platform product.

Differentiator

Problem solved

Functional benefit

Brands

• Solar Gas: Brand under which the company imports, bottles, markets and distributes Liquefied Petroleum Gas (LPG) for industrial, commercial and consumer customers.

Products and services

• Solar Gas (LPG Distribution) Importation, bottling, marketing and distribution of Liquefied Petroleum Gas (LPG) for industrial, commercial and consumer customers across Peninsular Malaysia under the Solar Gas brand.
• Cables and Building Materials (CBM) Manufacturing and supply of a wide range of low to medium-voltage copper and aluminium power cables, plumbing fittings and ceramic sanitary ware, together with engineering and civil works services in the power sector.
• Agro (Oil Palm Plantations) Ownership and management of two palm oil estates in Mukah, Sarawak, producing Fresh Fruit Bunches (FFB) that contribute to meeting demand for palm oil. Infrastructure upgrades are being implemented to improve estate efficiency.
• ICT Solutions Integrated solutions for telecommunications, spanning infrastructure development to the supply of ICT equipment and services to private and public sector clients; the company positions itself as an established market player in the Malaysian ICT industry leveraging strategic partnerships.
• Others (Property Management and Investment Holding) Property management, investment holding and provision of management services supporting the group's diversified business portfolio.

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Solar Gas (Brand)coreOthersSolar Gas is the brand under which JAG Capital imports, bottles, markets and distributes Liquefied Petroleum Gas (LPG) for industrial, commercial and consumer customers across Peninsular Malaysia.

Scale indicators1 record

Recent moves4 records

Expansion highlights2 records

Emerging players

• SHV Energy: Global LPG distribution group present across Southeast Asia. Relevant emerging/expanding peer benchmarking the LPG distribution business model and competitive density in regional markets where Solar Gas operates.

Direct peers

• YTL Corporation Berhad: Malaysian diversified conglomerate with utilities, construction, hospitality, and ICT businesses. Directly comparable as a multi-segment Bursa-listed holding combining infrastructure, energy-adjacent, and digital businesses.
• Boustead Holdings Berhad: Malaysian diversified holding with heavy industry, plantations, property, and trading arms. Comparable profile as a long-established Main Market holding combining palm oil, industrial, and property operations under one corporate vehicle.
• IOI Corporation Berhad: Top Malaysian palm oil producer with downstream refining and oleochemical operations. Directly comparable to JAG's Mukah, Sarawak palm oil estate business.
• Sime Darby Berhad: Largest Malaysian diversified industrial conglomerate spanning plantations, industrial equipment, and logistics. Highly comparable in being a Bursa Malaysia Main Market holding with multiple commodity-exposed, infrastructure-linked business units and similar governance/disclosure profile.
• Petronas Dagangan Berhad: Leading Malaysian downstream petroleum marketing and distribution company, including LPG. Closest pure-play comparator to JAG Capital's Solar Gas LPG distribution business across industrial, commercial, and retail customers.
• Sarawak Cable Berhad: Malaysian manufacturer of power and telecommunication cables, transformers, and related electrical equipment. Direct peer within JAG's Cables and Building Materials division.
• Cahya Mata Sarawak Berhad: Sarawak-based conglomerate with cement, construction materials, property, and infrastructure investments. Comparable as a regional Malaysian holding combining building materials manufacturing with property/infrastructure exposure.

Broad incumbents

• Telekom Malaysia Berhad: Malaysia's largest telecommunications and ICT infrastructure operator. Comparable to JAG's ICT Solutions business as the dominant incumbent in Malaysian telecom infrastructure.
• Press Metal Aluminium Holdings Berhad: Asia's largest aluminium producer with operations in smelting and extrusion. Comparable to JAG's aluminium power cable manufacturing exposure within CBM, though at a much larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KUB Malaysia Berhad