Full Release: Kuala Lumpur, 26 August 2020 – UEM Edgenta Berhad (“UEM Edgenta” or “Company”), the region’s leading Asset Management and Infrastructure Solutions company announced its unaudited financial results for the period ending 30 June 2020 (“1H FY2020”) here today.
The Company reported net loss of RM15.2 million in 1H FY2020 on the back of RM950.3 million revenue, as compared to net profit of RM68.1 million and RM1.1 billion respectively for the same period in FY2019. The normalised net profit stood at RM34.8 million in 1H FY2020, after excluding a one-off impairment of RM50 million on unsold property inventories. This was part of the Company’s ongoing restructuring efforts to rationalise the non-core businesses while re-positioning and prioritising resources in the healthcare and infrastructure sectors.
Comparing the second quarter of FY2020 (“Q2 FY2020”) with the immediate preceding quarter (“Q1 FY2020”), normalised net profit grew to RM22.7 million, an increase of 87.6% from RM12.1 million in Q1 FY2020, with revenue declining by 10.6% from RM501.9 million to RM448.5 million. Growth in normalised net profit for Q2 FY2020 compared to the previous quarter was proof of the Company’s prudent efforts in managing its operating costs and preserving margins on the back of the full COVID-19 pandemic impact during the quarter. As at 30 June 2020, UEM Edgenta’s balance sheet remains healthy with low gross gearing ratio at 0.3x times.
Managing Director/Chief Executive Officer, Syahrunizam Samsudin commented, “UEM Edgenta will continue to play a leading role in supporting national economic recovery efforts and work with our clients to ensure our services are delivered at the highest level of quality throughout this challenging period. Our business fundamentals remain firm, as we focus on managing costs and maintaining prudent cashflow management to ensure business resiliency without sacrificing potential opportunities and investments for growth in selected businesses. We will also continue to establish and enhance our technology enabled solutions to deliver best in class services to our clients”.
UEM Edgenta’s commitment to operational excellence initiatives over the preceding years anchored the Company’s agility in providing uninterrupted healthcare support services at the front lines, at both public and private hospitals under its care throughout the region since the onset of the COVID-19 pandemic.
Apart from delivering essential services, UEM Edgenta continues to support the Malaysian Government’s efforts throughout the pandemic through corporate responsibility initiatives which benefited the Ministry of Health (“MoH”). This includes the contribution of 30 units of ventilators, 30 units of patient monitoring systems, as well as the development of an Epidemic Management System which provides MoH with real-time information from hospitals and quarantine centres nationwide. Additionally, the Company worked together with MoH’s Engineering Department to successfully construct a Field Hybrid Intensive Care Unit at the Tengku Ampuan Rahimah Hospital in Klang, Selangor, as an alternative solution to ICUs which are in high demand at government hospitals responding to the COVID-19 pandemic.
Downloads:
