Ranhill Utilities Berhad reported that revenue for the fourth quarter ended 31 December 2021 (“Q4FY21”) increased 21.9% to RM421.11 million compared with RM345.42 million in the same quarter of 2020 (“Q4FY20”). The increase in revenue for the quarter is mainly due to an increase in revenue in the Services segment contributed by new subsidiaries acquired during the year.
The Company registered RM17.96 million for a profit before tax and zakat (“PBTZ”) compared with a loss before tax and zakat of RM9.85 million in Q4FY2020 while RM22 million was recorded for profit after tax compared with a loss after tax of RM7.69 million.
Headed by Tan Sri Hamdan who has been deeply involved in turning the company around, managed to get Ranhil to register for the full financial a 4.3% rise in revenue to RM1.53 billion compared to RM1.47 billion in the corresponding period of the previous year while PBTZ recorded at RM93.70 million and PAT at RM66.09 million in FYE21, respectively.
The environment business recorded revenue of RM1.16 billion as for the services business it contributed RM151.8 million to revenue compared with RM55.81 million, with the increase mainly due to the contributions from newly acquired subsidiaries, and; the energy business generated revenue of RM220.71 million compared with RM233.4 million.
The group has said that it will continue to explore opportunities in expanding water supply operations to other parts of Malaysia while aiming to convert existing operations and maintenance contracts to longer-term ROT concessions consistent with the strategy of expanding into the long-term regulated asset business in Thailand, where the Company owns and operates 10 water and wastewater treatment plants and reclamation plant with industrial park developers and other private enterprises. It is also looking to expand services into Indonesia and had thrown in a bid with consortium partners for the development of a “source-to-tap” project aiming to extract 10,000-litre per second from the Jatiluhur dam and supply treated water to Jakarta.
Ranhill Energy will also be looking to secure a gas-fired capacity and 300MW of solar photovoltaic energy and in discussion with other subsidiaries to install ground-mounted solar PV or rooftop solutions in the subsidiaries’ facilities.
