What Kelington Group does

Kelington Group Berhad is a Malaysian public-listed integrated engineering services and industrial gases company serving semiconductor, electronics, petrochemical, oleochemical, oil & gas, and industrial process customers across Asia Pacific and Europe. Founded in 1999 and listed on the Main Board of Bursa Malaysia since 2009 (ticker: KGB), the company operates through four business divisions: UHP Delivery System, Process Engineering, Industrial Gases, and General Contracting. It maintains wholly-owned subsidiaries and offices in Malaysia (HQ in Shah Alam), Singapore, China (Shanghai engineering and Chuzhou manufacturing), Taiwan, Germany (Dresden), Indonesia, and the Philippines, with recent market entry into India via a USD 105 million semiconductor wafer fab contract.

The company's core technical offering centers on ultra high purity (UHP) gas and chemical delivery systems for semiconductor manufacturers, including bulk gas distribution, specialty gas cabinets, valve manifold boxes, purifiers, abatement systems, and chemical dispensing/mixing systems. Engineering capability is supported by proprietary K-Flow Vision simulation software for fluid dynamics modeling and specialized UHP orbital welding techniques. The Process Engineering division delivers mechanical and electrical construction, tankage, equipment fabrication, underground pipeline, and steel structure services for industrial process plants. The Industrial Gases division operates through subsidiaries Ace Gases Sdn Bhd and Cryotech Logistics, supplying on-site gas generation, liquid CO2, dry ice, electronic specialty gases, and liquefied industrial gases. The General Contracting division executes turnkey EPC construction including cleanrooms for semiconductor fabs.

Kelington generates revenue primarily through project-based engineering contracts (design, fabrication, installation, commissioning) supplemented by recurring industrial gas supply arrangements. FY2025 audited revenue was RM 1,274,936 thousand (~USD 270 million) with a record net profit of RM 150,995 thousand, against FY2024 revenue of RM 1,272,169 thousand. The customer base includes tier-1 semiconductor manufacturers (TSMC, Samsung, SMIC, Micron, Western Digital, Infineon, IM Flash, Silterra, Hanergy, HP Malaysia), petrochemical and oleochemical operators (BASF Petronas, KL Kepong), oil & gas (Petron Co.), and medical devices (B. Braun). Pricing is project-specific and contract-based, with no public standard pricing tiers.

Name

Kelington Group

Legal name

Kelington Group Berhad

Website

https://kelington-group.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

101–250 employees

Short description

Kelington Group Berhad is a Malaysian-listed engineering services and industrial gases company serving semiconductor, electronics, and petrochemical manufacturers across Asia and Europe. It specializes in ultra high purity gas delivery systems, process engineering, and turnkey EPC construction.

Ownership category

akta.pro rank

Headquarters

HQ city

Shah Alam

HQ country

Malaysia

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Engineering Services - UHP Delivery System: Project-based engineering services for ultra high purity gas delivery systems serving electronics and semiconductor manufacturers including wafer fabrication, flat panel display, solar and LED industries. Revenue recognized from design, fabrication, and installation contracts.
2. Process Engineering Services: Mechanical and electrical engineering and construction services for industrial process plants including tankage construction, equipment fabrication, underground pipeline, and steel structure work across oil & gas, petrochemical, oleochemical, and glove industries.
3. Industrial Gases Manufacturing & Trading: Manufacturing and trading of industrial and specialty gases including on-site gas supply, liquid CO2 and dry ice, electronic specialty gases, and liquefied industrial gases through subsidiaries Ace Gases and Cryotech Logistics.
4. General Contracting - EPC: Turnkey construction services with engineering, procurement, and construction scope for semiconductor plants including cleanroom construction, civil works, and complete facility building.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Kelington Group provides integrated engineering services across four divisions: (1) Ultra High Purity (UHP) gas and chemical delivery systems for semiconductor, wafer fab, flat panel display, solar and LED manufacturers; (2) Process Engineering including mechanical and electrical construction, tankage, equipment fabrication, underground pipelines and steel structures for petrochemical, oleochemical and glove industries; (3) Industrial Gases manufacturing and trading through subsidiaries Ace Gases and Cryotech Logistics; and (4) General Contracting turnkey EPC services including cleanroom and civil construction for semiconductor and petrochemical clients.

Product overview

Kelington Group Berhad is a multi-disciplinary engineering services provider and industrial gases company. The company operates four core business divisions: (1) UHP Delivery System providing ultra high purity gas and chemical delivery solutions for semiconductor and electronics manufacturers; (2) Process Engineering delivering mechanical and electrical systems for industrial plants including tankage, process plants, equipment fabrication, underground pipelines and steel structures; (3) Industrial Gases supplying onsite gas, liquid CO2, dry ice, specialty gases and liquefied industrial gases through subsidiaries Ace Gases and Cryotech Logistics; and (4) General Contracting providing turnkey EPC construction services including civil works and clean room construction for semiconductor and petrochemical industries. The company utilizes proprietary K-Flow vision simulation software for system optimization and has regional presence across Malaysia, Singapore, China, Taiwan, Indonesia, Philippines and Germany.

Differentiator

Problem solved

Functional benefit

Brands

• Ace Gases: Industrial gases supply and distribution subsidiary providing onsite gas supply, liquid carbon dioxide, dry ice, specialty gases, and liquefied industrial gases.
• Cryotech Logistics

Products and services

• UHP Delivery System

Quantifiable outcome

• Record net profit of RM 151 million in FY2025
• +2 more outcomes

Named customers14 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature4 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Mercator Science Education (MSE) / University of Duisburg-Essen (UDE)minorOthers · 1 April 2026Industry-academia meeting and collaboration discussion on building human capability, future-ready talent development, AI applications in engineering, and knowledge retention in semiconductor and advanced manufacturing sectors.
• Universiti Kebangsaan Malaysia (UKM)minorOthers · 1 December 2025Academic partnership through Malaysia-Germany Bridging Research & Expert Exchange program with UKM FKAB, supporting talent development and knowledge exchange in engineering and semiconductor sectors.
• Worldwide Energy Development (WED)coreStrategic or Co-development Partner · 10 October 2025Joint development of 2MW green hydrogen production hub in Selangor, Malaysia. The facility will be powered by WED's Batang Kali Small Hydropower Plant, enabling zero-carbon hydrogen production via electrolysis using renewable energy. This supports Malaysia's Hydrogen Economy & Technology Roadmap and NETR.
• SKS CoachbuildersminorStrategic or Co-development Partner · 10 October 2025Collaboration in the green hydrogen ecosystem spanning the hydrogen value chain from production to mobility applications with fuel cell electric vehicle (FCEV) buses, supporting the Selangor SHORE program.
• PETRONAS CCS SolutionscoreStrategic or Co-development Partner · 3 July 2025Collaboration with PETRONAS CCS Solutions to explore carbon capture technologies and emissions management. The partnership involves Kelington's subsidiary Ace Gases working with PETRONAS CCS Solutions to conduct studies on carbon dioxide capture and management, supporting Malaysia's energy transition goals. The collaboration expanded in June 2026 to include additional CCS initiatives.
• Malaysian Industrial Safety and Health Association (MiSHA)minorOthersKelington participated in MiSHA awards program focused on industrial safety and health excellence, receiving Platinum Award in first participation.

Scale indicators7 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Worley Limited: Australian-listed global EPC and engineering services company delivering process plant design, construction, and maintenance across energy, chemicals, and minerals. Comparable to Kelington's Process Engineering and General Contracting divisions for industrial process plants.
• Sinopec Engineering Group: Major Chinese EPC contractor delivering large-scale petrochemical, oil refining, and industrial process plant projects across China and overseas. Comparable to Kelington's Process Engineering division for tankage, pipelines, and process plants, though primarily serving the petrochemical sector.
• Nippon Sanso Holdings: Japanese industrial gases major with strong Asia-Pacific semiconductor gas delivery system business serving TSMC, Samsung, and Japanese fabs. Highly comparable to Kelington in customer overlap and Asia-centric footprint.
• Air Products and Chemicals: Global industrial gases company with a significant on-site gas supply and electronics gases business serving semiconductor fabs in Asia. Comparable to Kelington's Ace Gases on-site supply and UHP delivery operations.
• Linde plc: World's largest industrial gases company with an Electronics & Specialty Gases division delivering bulk and specialty gases plus gas distribution equipment to semiconductor manufacturers globally. Closest broad incumbent to Kelington's combined UHP + industrial gas offering.
• Air Liquide: Global industrial gas major with a large Electronics business line providing ultra high purity gases, gas delivery systems, and abatement to semiconductor fabs worldwide. Overlaps directly with Kelington's UHP delivery and Ace Gases segments but at vastly larger scale.

Direct peers

• Entegris: US-listed specialty materials and gas delivery systems company providing gas purification, fluid delivery, and filtration solutions for semiconductor and high-tech manufacturers. Most direct comparable to Kelington's UHP gas delivery and chemical delivery systems business.
• Applied Energy Systems: Specialty gas delivery systems manufacturer providing gas cabinets, valve manifold boxes, and ultra high purity gas distribution equipment for semiconductor and similar high-purity applications. Closest US-based direct peer to Kelington's bulk and special gas delivery system product lines.

Emerging players

• Ichinen Holdings Co., Ltd. Japanese industrial gases and engineering services group providing specialty gases and gas equipment for electronics manufacturing, with a smaller scale profile comparable to Kelington's regional Asian footprint and UHP delivery specialization.

Regional players

• CTCI Corporation: Taiwanese EPC contractor specializing in petrochemical, power, and high-tech plant construction including semiconductor fabs, with strong customer overlap with TSMC. Highly comparable to Kelington's general contracting and process engineering business in the regional semi-fab market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries7 records

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 Kelington Group