Taliworks’ business remains resilient amid pandemic


KUALA LUMPUR: Taliworks Corporation Bhd expects its business performance to remain resilient, despite the impact of the Covid-19 pandemic, as it seeks out new value-accretive opportunities to drive our earnings growth.

The infrastructure company is engaged in water treatment, supply and distribution, highway and toll management, waste management and construction and engineering.

The company had on Wednesday reported a revenue of RM65.6mil which was affected by the lower contribution from the water treatment, supply and distribution segment, where contribution from the Langkawi operations ceased from Oct 31,2020.

Taliworks said in addition, the movement control order that was re-imposed on Jan 13,2021 by the authorities to curb the Covid-19 pandemic also impacted its toll highway operations.

Nevertheless, this was cushioned by the higher revenue contribution from the construction division. In view of the lower revenue, profit after tax was lower at RM13.8mil, as compared to RM17.5mil a year ago.

Taliworks executive director Datuk 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, we are 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 has declared a first interim single-tier dividend of 1.65 sen per share on 2.02 billion ordinary shares, amounting to RM33.3mil which shall be paid on June 30,2021.

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