Cypark Assets quarterly web revenue up 5.5%


KUALA LUMPUR: Cypark Assets Bhd‘s web revenue rose 5.5% to RM15.81mil within the first quarter ended Jan 31, 2022 (1Q22) from RM14.98mil a yr in the past pushed by the decrease recognition of deferred tax bills in quarter.

In a submitting with Bursa Malaysia, Cypark stated its income was up 0.9% to RM77.20mil within the quarter in contrast with RM76.47mil within the corresponding interval a yr in the past as a result of higher efficiency of the renewable power (RE) division within the quarter .

For the RE section, it stated income and revenue earlier than tax for 1Q22 elevated to RM66.3mil and RM17.5mil respectively.

“Larger income and revenue in present quarter had been primarily contributed by the higher power technology from many of the photo voltaic vegetation in present quarter in contrast with 1Q21,” it added.

The federal government’s willpower to spice up utilization of RE is in keeping with its dedication to the 2012 Paris settlement.

Cypark stated this was an incentive for the group to contribute in direction of acceleration of Malaysia’s adoption of inexperienced power, together with photo voltaic.

“With the rise within the RE adoption goal, Cypark expects sizeable photo voltaic quota to be supplied by the Vitality Fee by means of the large-scale photo voltaic 5 tender and past through which Cypark will take part in,” it added.

Cyparksaid there may be massive potential for development within the waste-to-energy (WTE) section as a result of authorities’s give attention to the inexperienced financial system beneath the twelfth Malaysia Plan.

“On this respect, the continual effort of the federal government beneath the Housing and Native Authorities Ministry in inculcating a greener means for waste administration may end in extra WTE vegetation being constructed.

“Out of the 5 potential new WTE tenders that had been highlighted, Cypark has participated in two tenders in Johor and Melaka in collaboration with Johor and Melaka state-owned corporations,” the group stated.

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