An established infrastructure company engaged in multiple concessionary business like water treatment, supply and distribution, highway and toll management, waste management and construction and engineering, Taliworks Corporation like many other felt the impact of long lockdowns as it presented a lower first quarter financial results for the financial year ending 31 December 2021.
For the quarter under review, the company reported a revenue of RM65.6 million, the lower figure was attributed to due to reduced contribution from the water treatment, supply and distribution segment, where contribution from the Langkawi operations ceased from end October 2020. In addition, the movement control order that was re-imposed in January to curb the Covid-19 pandemic also impacted its toll highway operations.
Although the impact was hard, Taliworks was able to cushion the effects from the higher revenue contribution from its construction division. In view of the lower revenue, profit after tax was lower at RM13.8 million, as compared to the preceding year’s corresponding quarter of RM17.5 million. Commenting on the results, the Executive Director of Taliworks, Dato’ Ronnie Lim said, “Amid the undesired on-going impact of the Covid-19 pandemic, our business performances remained resilient, backed by our strong business fundamentals. With the roll out of the vaccination programme in Malaysia, we are hopeful that the Covid-19 pandemic can be contained to allow for a recovery in the economy.”
Moving forward, the company is committed to continue to deliver sustainable growth by seeking out new value-accretive opportunities to drive our earnings growth for our shareholders. The Board of Directors declared a first interim single-tier dividend of 1.65 sen per share on 2.02 billion ordinary shares, amounting to RM33.3 million, which shall be paid on 30 June 2021.
