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Tuesday, April 21, 2015

Cypark: Current waste-to-energy projects to drive earnings this year

KUALA LUMPUR (April 21): Environmental and infrastructure solutions provider Cypark Resources Bhd expects its current waste-to-energy projects to drive and sustain its earnings this year, said its group chief executive officer Datuk Daud.

"We will continue the projects that we have in hand, such as the waste-to-energy project in Negri Sembilan and other infrastructure-related projects that we have secured," he told reporters after the group’s annual general meeting today.

Moving forward, Daud said Cypark is eyeing to build assets that will enable it to generate income from future concessions.

Daud cite as example its waste-to-energy project in Negri Sembilan, where Cypark is expected to receive future income of some RM2 billion over a 25-year concession period.

"We have changed our business model from being a contractor to somewhat of an asset owner. We are looking for steady, stable and recurring income from recession-proof business that will provide us with healthy returns," he added.

Currently, Cypark's orderbook stands at RM303.71 million, which comprises of infrastructure and construction projects spanning across Putrajaya and Johor.

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