The Group is organised into the following business segments:
- Water - The water sector provides water supply services, operate water and wastewater treatment plants and provide specialised services in the management and optimisation of water utility assets. In this sector, the Group has been granted exclusive license (on a 3-year term, renewable for successive 3-year terms on a rollover basis) by the Minister of Energy, Transition and Water Transformation, Malaysia to provide source-to-tap water supply services to end customers in the entire state of Johor, Malaysia. In addition, the Group also has various water and wastewater concessions in relation to water treatment and wastewater treatment plants outside Malaysia.
- Power - In the power sector, the Group owns and operates two 190MV combined cycle gas turbine power plants in Sabah, Malaysia on a build-operate-own (“BOO”) and build-operate-transfer (“BOT”) basis respectively and owns one 50MW solar photovoltaic energy generating plant in Perak, Malaysia on a BOO basis. The Group had entered into Power Purchase Agreements with Sabah Electricity Sdn. Bhd., a subsidiary of Tenaga Nasional Berhad, to sell up to 380 MW of electricity generating capacity and electricity production for a 21-year period. In 2021, the Group entered into a Renewable Energy Power Purchase Agreement (“REPPA”) with Tenaga Nasional Berhad (“TNB”) to design, construct, own, operate and maintain a solar photovoltaic energy generating facility with a capacity of 50 MW located in Perak, Malaysia to generate and deliver solar photovoltaic energy to TNB with a period of 21 years.
The Group received a notification letter from the Energy Commission (“EC”) dated 8 August 2022 notifying, amongst others, the four-year extension of the effective period of REPPA with a total revised concession period of 25 years. The solar plant was completed on 7 February 2024 in which the facility was completed prior to the extended scheduled commercial operation date of 1 April 2024 and the plant commenced its operations on the same date of completion, i.e. 7 February 2024.
- Consultancy and Services - In the consultancy and services sector, the Group provides the following services: Engineering, procurement and construction management services (“EPCM”); Engineering, procurement, construction and commissioning (“EPCC”); Project management consulting services (“PMC”); and Operations and maintenance services.
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Others - The other segment consist of investment holding and provision of management services to subsidiaries within the Group.
| Financial Year Ended 30 June/31 December |
2026 |
2025 |
2023 |
2022 |
| |
9months (Unaudited) |
18months (Audited) |
12months (Audited) |
12months (Audited) |
| Presented in RM'000 |
| Water |
1,345,564 |
2,025,776 |
1,176,676 |
1,173,726 |
| |
73.38% |
61.59% |
51.61% |
67.99% |
| Power |
185,353 |
413,268 |
277,463 |
263,928 |
| |
10.11% |
12.57% |
12.17% |
15.29% |
| Consultancy and Services |
302,737 |
849,890 |
825,697 |
288,687 |
| |
16.51% |
25.84% |
36.22% |
16.72% |
| Total Revenue |
1,833,654 |
3,288,934 |
2,279,836 |
1,726,341 |