The EE pretax profit rose 17% on-year to RM11mil in 4Q16 due to increased work activities for the second phase of its WTE project in Tanah Merah, Negeri Sembilan. RE pretax profit rose 119% yoy to RM5.5m in 4Q16 as the group only started to collect tipping fees from its landfill operations in Tanah Merah last year.
“We project that Cypark’s core EPS will rise by 2% in FY17, driven mainly by stronger non-RE earnings. The group’s construction arm is a potential beneficiary of the government’s initiative to construct more public housing in the country,” it said.
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