KUALA LUMPUR, May 31 – Dedicated teamwork propelled UEM Edgenta Berhad to a strong start in Q1 FY2023 with a 15.9 per cent growth in profit after tax and non-controlling interest (“PATANCI”) totalling RM10.9 million from RM9.4 million in Q1 FY2022, says Syahrunizam Samsudin, its Managing Director/Chief Executive Officer.
“With a healthy balance sheet featuring a low gross gearing ratio of 0.32 times and a robust net cash position, including bank balances of RM114.9 million, we aim to maintain this growth momentum as we explore new business opportunities,” he adds in a statement.
In announcing its unaudited financial results for the quarter ended March 31, 2023, the company’s revenue grew by 17.2% to RM631.8 million (Q1 FY2022:RM539.2 million). UEM Edgenta’s orderbook during the quarter saw new contracts totalling RM651 million, representing 50 per cent of total contract wins achieved in FY2022.
International markets accounted for about 50 per cent of UEM Edgenta’s new contracts, demonstrating the continued success of the company’s strategy in expanding its global presence.
In addition, its Healthcare Support division played a crucial role in securing new commercial and Integrated Facilities Management (“IFM”) contracts, contributing 55 per cent to the overall new contract wins, which was partly driven by strong contract renewals in Singapore and Taiwan at a commendable rate of 96 per cent.
UEM Edgenta says this reflected its commitment to delivering high-quality services as well as the confidence and trust that its international clients have in the company.
Domestically, UEM Edgenta continued to strengthen its presence in the private healthcare sector by extending services to new clients besides securing contract renewals by existing clients.
Its investments in sustainability and technology continued to garner traction through the Energy Performance Contracting and IFM contracts secured nationwide by using its tech-driven solution via Edgenta NXT.
UEM Edgenta says its Infrastructure division’s orderbook was enhanced through the renewal of state road maintenance contracts and the award of additional roadworks, entrenching its role in maintaining the critical transport infrastructure assets in Peninsular Malaysia.
“We believe that we are on the right path, remaining agile and innovative to secure a sustainable global UEM Edgenta franchise. As we expand our technology solutions and business footprint, we are actively collaborating with new partners in the highly sought-after smart city solutions and sustainability services, as well as expanding into promising markets in the Middle East,” says Syahrunizam.
“Bridging the gap between present and future service delivery, the Asset and Facilities Management industry is undergoing rapid transformation, moving away from the traditional ‘maintain-repair-restore’ model. Instead, it now emphasises the preservation of assets and continuous operational optimisation of buildings, townships, and cities. This paradigm shift paves the way for innovative technology-based solutions, which we are delivering through Edgenta NXT,” he adds.
Edgenta NXT, he explains, is commercialising its interoperable digital asset management platform, Asseto, that integrates various technologies such as automation, sensors, robots, and data aggregation, allowing for data-driven decision-making that optimises energy utilisation, waste management, and user experience, enhancing efficiency and returns to all stakeholders.
–WE