UEM Edgenta to Continue Focus on Delivering Service Excellence to Support National Post-COVID-19 Recovery Efforts - News & Announcements

UEM Edgenta to Continue Focus on Delivering Service Excellence to Support National Post-COVID-19 Recovery Efforts

(From Right - Left) Syahrunizam Samsudin, Managing Director/Chief Executive Officer of UEM Edgenta Berhad, Lee Ying Hooi, Head of Corporate Planning of UEM Edgenta Berhad and Muhammad Noor Abd Aziz @ Hashim, Chief Financial Officer of UEM Edgenta Berhad updating the media on its role in support of Malaysia’s recovery efforts and post-COVID-19 opportunities, as well as plans for the rest of the year at the 1H FY2020 media briefing.

Syahrunizam Samsudin, Managing Director/Chief Executive Officer of UEM Edgenta Berhad (middle), flanked by Muhammad Noor Abd Aziz @ Hashim, Chief Financial Officer of UEM Edgenta Berhad and Lee Ying Hooi, Head of Corporate Planning of UEM Edgenta Berhad updating the media on its role in support of Malaysia’s recovery efforts and post-COVID-19 opportunities, as well as plans for the rest of the year at the 1H FY2020 media briefing.

Full Release: Kuala Lumpur, 28 August 2020 – UEM Edgenta Berhad (“UEM Edgenta” or “Company”), the region’s leading Asset Management and Infrastructure Solutions company completed its 1H FY2020 with a normalised net profit of RM34.8 million, which excludes a one-off impairment of RM50 million on unsold property inventories, and on the back of RM950.3 million revenue.

The results were discussed in a briefing session at the Company’s headquarters in Bangsar South earlier today, led by the Company’s Managing Director/Chief Executive Officer, Syahrunizam Samsudin, who also shared UEM Edgenta’s growth outlook for second half of the year.

“Prudent cost management is a priority we have set for the remainder of the year, while diligently playing our role to deliver quality outcomes across our essential front line services in support of national recovery efforts. Our technology-driven platforms and solutions will form the backbone of our future offerings to the market, as we continue to remain agile and resilient in the post-COVID-19 era, to keep our fundamentals strong in embracing the new normal. Based on our first half results, we will not be giving an interim dividend as we remain prudent on cash flow management,” commented Syahrunizam.

1H FY2020 Business Performance
UEM Edgenta’s Healthcare Support division recorded RM565.4 million in revenue and net profit of RM20.5 million for 1H FY2020, mainly due to commencement of new contracts in Singapore and Taiwan and ad-hoc projects including disinfection services in Malaysia and Singapore. The division is focused on protecting its market share, manage cost, whilst utilising technology to achieve efficiency in its operational excellence initiatives. The division is proactively pursuing new opportunities in Singapore and Taiwan with its recent win in the provision of hospital support services to Taiwan’s hospitals, including Cheng Hsin General Hospital and National Yang Ming University Hospital worth up to RM200.7 million on top of protecting existing contracts and securing renewals in the region.

The Property and Facility Solutions (“PFS”) division’s revenue registered at RM68.9 million with an increase of 22.6% year-on-year (“y-o-y”) in net profit to RM11.3 million, attributable to higher margins from the division’s current projects. In ensuring sustainable growth for its operations, PFS will be seeking new opportunities for its customer’s asset enhancement by offering differentiation of services via technology applications and platforms. The division is also actively exploring new market opportunities especially in high-value industrial and commercial buildings following an increase in demand for its sanitisation and disinfecting services.

The Infrastructure Services division posted revenue and net profit of RM268.2 million and RM23.7 million respectively for the period under review. Despite facing challenges in the operating environment which led to the deferment of key infrastructure projects, the division is committed to continue delivering existing work in hand, as well as undertake operational excellence initiatives to protect its profit margins. Meanwhile, performance of the Asset Consultancy division for 1H FY2020 showed an increase of 31.3% y-o-y in net profit to RM7.3 million from RM5.6 million with its revenue registered at RM47.0 million. The division will continue to focus on delivering existing key projects and work-in-hand, including the project management consultancy works for Coastal Road Network and Second Trunk Roads Phase 2 in East Malaysia.

Downloads: