UEM EDGENTA POSTS HIGHER NET PROFIT OF RM181.78 MLN IN FY19

NURUL JANNAH KAMARUDDIN

KUALA LUMPUR, Feb 26 (Bernama) -- UEM Edgenta Bhd's net profit for the financial year ended Dec 31, 2019 (FY19) increased to RM181.78 million from RM148.43 million in the preceding financial year.

Revenue rose to RM2.41 billion from RM2.18 billion previously, mainly contributed by the asset management and infrastructure solutions business segments.

It said the infrastructure services division recorded a 3.8 per cent growth in revenue amid challenges faced in the operating environment, while the asset consultancy division registered a 15.6 per cent growth in revenue over the same period.

In FY19, UEM Edgenta also booked a profit of RM32.7 million on the final payment settlement of its Abu Dhabi’s project.

Meanwhile, the healthcare support division recorded a 15 per cent growth in full-year revenue to RM1.1 billion, mainly attributed to new contracts secured from tenders in Singapore for the provision of non-clinical support services to the re-clustered Ministry of Health (MOH) Singapore hospitals.

For the fourth quarter (Q4), its net profit jumped to RM97.49 million from RM67.92 million in the same quarter of 2018, while revenue rose to RM712.26 million from RM647.35 million.

Managing director and chief executive officer Datuk Azmir Merican said UEM Edgenta closed FY19 with a healthy order book across all its business divisions, with RM13.2 billion work-in-hand.

The company has secured over RM900 million in new contracts with the re-clustered MOH Singapore hospitals, out of which approximately RM650 million is from new hospitals previously not serviced by the company.

Additionally, the asset consultancy business continues with its focus on road infrastructure management consultancy projects of socioeconomic importance in East Malaysia, namely the Coastal Road Network and Second Trunk Road projects in Sarawak.

-- BERNAMA

 

TAGS:

UEM Edgenta, Sarawak’s Coastal Road Network, Sarawak’s Second Trunk Road, Azmir Merican