KUALA LUMPUR: Cypark Resources Bhd is positive that the company will have a bright prospects this year with several contracts already in the bag.
Its founder and chairman Tan Sri Razali Ismail said the market growth for solid waste management services is strong, driven by the implementation of Solid Waste Management Act last September.
"With the increasing waste output of Malaysia's population, the group expects to benefit from government projects earmarked under the 10th Malaysia Plan.
"Additionally, with various attractive initiatives offered by the government under the National Renewable Energy Act and with the implementation of the Sustainable Energy Development Authority, Cypark is in a strong position to seize the opportunities in renewable energy sector," he said in a statement.
Cypark is an environmental technology and engineering specialist, focusing on areas of integrated renewable energy, waste management, and environmental remediation.
The company has developed expertise and technical know-how to generate renewable energy whereby waste biomass, landfill gas and solar PV from the remediated sites and brown fields are harnessed to produce green energy at integrated renewable energy parks.
The company obtained a Letter of Acceptance dated December 23 from the Housing and Local Government Ministry for the proposed upgrading of the landfill site at Kok Foh, Jempol, Negeri Sembilan, worth RM14.7 million.
Razali said the company had posted better results in its unaudited financial report for the fourth quarter and for the current full-year ended October 31.
Cypark registered higher net profit of RM22 million despite a slowdown in the world economy compared with RM20.3 million net profit achieved last year.
For the fourth quarter under review, Cypark recorded a 15 per cent revenue growth to RM42.4 million.
The company's net profit for the fourth quarter stood at RM4.1 million compared to RM5.2 million achieved in the same period last year.
"The profit generated for this year has been very encouraging. This is a strong sign that our business continues to remain sustainable even in the current weak global economy," Razali said.
Its founder and chairman Tan Sri Razali Ismail said the market growth for solid waste management services is strong, driven by the implementation of Solid Waste Management Act last September.
"With the increasing waste output of Malaysia's population, the group expects to benefit from government projects earmarked under the 10th Malaysia Plan.
"Additionally, with various attractive initiatives offered by the government under the National Renewable Energy Act and with the implementation of the Sustainable Energy Development Authority, Cypark is in a strong position to seize the opportunities in renewable energy sector," he said in a statement.
Cypark is an environmental technology and engineering specialist, focusing on areas of integrated renewable energy, waste management, and environmental remediation.
The company has developed expertise and technical know-how to generate renewable energy whereby waste biomass, landfill gas and solar PV from the remediated sites and brown fields are harnessed to produce green energy at integrated renewable energy parks.
The company obtained a Letter of Acceptance dated December 23 from the Housing and Local Government Ministry for the proposed upgrading of the landfill site at Kok Foh, Jempol, Negeri Sembilan, worth RM14.7 million.
Razali said the company had posted better results in its unaudited financial report for the fourth quarter and for the current full-year ended October 31.
Cypark registered higher net profit of RM22 million despite a slowdown in the world economy compared with RM20.3 million net profit achieved last year.
For the fourth quarter under review, Cypark recorded a 15 per cent revenue growth to RM42.4 million.
The company's net profit for the fourth quarter stood at RM4.1 million compared to RM5.2 million achieved in the same period last year.
"The profit generated for this year has been very encouraging. This is a strong sign that our business continues to remain sustainable even in the current weak global economy," Razali said.
