UEM EDGENTA POSTS NET PROFIT OF RM6.7 MLN IN Q1

KUALA LUMPUR, May 27  -- UEM Edgenta Bhd posted a net profit of RM6.69 million in the first quarter (Q1) ended March 31, 2021, compared with RM11.16 million in the same period last year.

Revenue fell to RM483.55 million from RM501.87 million previously, it said in a filing with Bursa Malaysia today.

UEM Edgenta said revenue from asset management increased by RM44.2 million mainly resulting from healthcare support contracts secured in Malaysia, Taiwan, and Singapore.

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“The improvement in this segment is also contributed by new facilities maintenance and energy performance contracting projects secured in Malaysia by the property and facility solutions division,” it said.

However, revenue from infrastructure solutions decreased by RM64.9 million mainly due to less maintenance work performed for expressways during the Movement Control Order period.

Besides that, the company said lesser consultancy works performed by the asset consultancy division had also contributed to the decrease in revenue for this segment.

On prospects, UEM Edgenta said it would continue to focus on cost management and would remain agile and adaptable as it pursued growth strategy with a focus on new products and solutions, expansion into new geographies and regional partnerships.

“The company is confident that its refreshed business strategy is positioned to benefit from post-pandemic recovery and emerge stronger for the remaining FY2021,” it said.

Meanwhile, in a statement, managing director and chief executive officer Syahrunizam Samsudin said the company continued to grow its order book and had secured over RM400 million worth of new contracts in Q1 FY2021.

He revealed the company’s healthcare support division, particularly the commercial portfolio, secured 59 per cent of the total new contracts amounting to RM240 million from international markets in Singapore and Taiwan.

“This represents a significant portion of the new contract wins, further supporting the company’s refreshed strategy under Edgenta of the Future 2025 (EoTF2025),” he said, adding that the robust order book currently stood at RM12.0 billion, providing long-term visibility until 2038.

-- BERNAMA