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For the quarter under review, the Group recorded revenue of RM93.5 million, an increase of 25% as compared to RM74.8 million in the preceding year’s corresponding quarter, contributed by revenue growth from operating subsidiaries. The water treatment and supply segment recorded higher revenue due to increase in the Bulk Water Supply Rate effective 1 January 2023 and higher electricity rebates. For the toll division, revenue growth was in line with the increase in the average daily traffic whereas for the construction segment, the increase in revenue was attributed to higher contribution from Packages 2 and 3 of Phase 1 of the Sungai Rasau Water Treatment Plant and Water Supply Scheme. The renewable energy division recorded revenue of RM6.4 million for the quarter from the sale of electricity.
The Q result slightly below expectation. Anyway for coming quarter should be better (hopefully the Rasau Project's schedule can be improve and no further delay). Good time to accumulate at present attractive price(good dividend at about 8%)!
