CIMB Research retains Add for Cypark

An aerial view of the Cypark Suria Pajam Renewable Energy Park in Negri Sembilan.

The EE’s operating profit jumped 47% on-year to RM12mil, thanks to increased external and internal projects while GTRE’s operating profit rose 21% on the back of higher tipping fees generated from the landfill operation in Tanah Merah.

It said Cypark has also submitted many tenders and proposals worth more than RM2bil. It is optimistic that some of the tenders at an advance stage of negotiation could be secured this year.