UEM Edgenta On Firm Footing, Records Higher Revenue And Profit For Nine Months 2017

November 28, 2017 Press Release No Comments

Revenue and Profit After Tax and Non-Controlling Interest for Nine Months 2017 Up by RM382.3 million (35.9%) and RM29.8 million (46.9%) Respectively

KUALA LUMPUR, 28 November 2017 – The Board of UEM Edgenta Berhad (“UEM Edgenta” or “Company”) announced today its financial results for the nine months ended 30 September 2017 (“9MTH 2017”) which continue to show that the Company is on firm footing.

For Third Quarter 2017 (“Q3 2017”) and 9MTH 2017, UEM Edgenta recorded revenue of RM523.1 million and RM1.448 billion, which is higher by RM149.7 million (40.1%) and RM382.3 million (35.9%), respectively, compared to corresponding period last year.

The improvement in revenue was contributed by UEM Edgenta’s Healthcare Services which recorded higher 9MTH 2017 revenue by RM350.7 million (>100.0%) mainly contributed by its newly acquired commercial business, UEMS Pte Ltd (“UEMS”). This is followed by Real Estate Services and Infrastructure Services Divisions which recorded higher 9MTH 2017 revenue by RM33.5 million (43.2%) and RM32.1 million (6.1%) respectively, mainly contributed by higher civil and pavement works carried out on expressways as well as higher contributions from township management services and facilities contracts secured during the period.

UEM Edgenta recorded Profit After Tax and Non-Controlling Interest (“PATANCI”) of RM93.4 million for 9MTH 2017, which is higher by RM29.8 million (46.9%) compared to last year, mainly due to better performance from all three (3) services divisions.

“We are pleased that our strategy for strengthening the Healthcare Services, Real Estate Services and Infrastructure Services Divisions is delivering positive results as seen in our performance for 9MTH 2017 and we expect to sustain performance driven by organic growth and strong momentum in our three core sectors,” said Dato’ Azmir Merican, Managing Director/Chief Executive Officer of UEM Edgenta.

The Company is also embarking on various operational initiatives to drive operational efficiency and is harnessing revenue synergies as well as cross selling opportunities amongst the sectors and this includes expanding service offerings in the commercial healthcare sector; growing its township and building services in Malaysia’s Southern region; and focusing on its core markets of Malaysia, Indonesia, Singapore, Taiwan and the Middle East.

The Company had on 27 November 2017 received notice from WSP NZ Acquisition Limited (“WSP”) to inform that the full takeover offer to purchase all the ordinary shares of Opus International Consultants Limited (“OIC”) (“Offer”) is now unconditional, in view that the consent from the Overseas Investment Office (OIO) for the Offer has been received.

The settlement of consideration will be paid by WSP within seven (7) business days from 27 November 2017 and the gain on disposal of OIC will be recognised in the last quarter of 2017.