UEM Edgenta Records RM2.9 Billion in Revenue & Profit Before Tax of RM113.8 Million in FY2016 with Strong Local Performance

February 24, 2017 Press Release No Comments

KUALA LUMPUR, 24 February – UEM Edgenta Berhad (“UEM Edgenta” or “Company”) today announced revenue of RM2.9 billion and a profit before tax of RM113.8 million in its unaudited consolidated results for the year ended 31 December 2016 (FY16).

The Company’s Q4 performance against Q3 continued to generate positive contributions with revenue increasing by 18.3% to RM857 million contributed by the Infra Services Division recording higher revenue of RM85.5 million, Integrated Facilities Management Division recognizing a higher revenue by RM34.3 million and the Asset Consultancy Division, recording an increased revenue of RM23.5 million.

Overall revenue for 2016 declined due to losses incurred by Opus International Consultants Limited (OIC) and the loss in Hospital Support Services (HSS) contribution from East Malaysia operations. Losses in OIC was attributed to weak global oil prices affecting OIC’s subsidiary, Opus Stewart Weir Limited’s (OSW) operations in Canada. For the year, the Company had recognized an impairment loss on goodwill on OSW, which includes a full impairment of the geomatics business in Canada.

According to Azmir Merican, Managing Director/Chief Executive Officer, UEM Edgenta, several key initiatives were in place to sustain the Company’s continued growth momentum in 2017. These include the acquisitions of KFM Holdings Berhad in April 2016 and Asia Integrated Facility Solution Pte. Ltd. which owns UEMS Pte. Ltd. (UEMS), on 15 December 2016.

UEMS which is headquartered in Singapore, is a leading player providing integrated facilities management services for the private healthcare and hospital sector in Malaysia, Singapore and Taiwan markets. UEMS business will complement the Company’s existing growth initiatives in the healthcare sector, with possible future expansion into other Southeast Asia regions.

He added with the launch of the new Command and Contact Centre in August 2016, the Company will focus on real-time energy management system and Internet of Things (IoT) applications for facilities management for all buildings and projects under the Company’s purview. These technology offerings will help the Company promote predictive maintenance and intelligent building management for South East Asia markets, in the near future.

“With these initiatives in place and our focus on improving operational and organizational excellence and the use of technology and innovation, we look forward to a positive growth trajectory for 2017”, said Azmir.