Cypark's Muhammad Ashraf said the company's next phase will firmly focus on expanding its role in Malaysia’s green energy landscape.
PETALING JAYA: Cypark Resources Bhd
has returned to the black in its third quarter ended Jan 31, 2025, as it recorded a net profit of RM8.76mil compared with a net loss of RM27.98mil in the previous corresponding period.
Revenue rose to RM39.74mil from RM35.89mil a year earlier.
In a filing with Bursa Malaysia, the environmental engineering and technology provider said the turnaround was largely attributed to a one-off reversal of a prior provision and compensation received from an amicable settlement with the main contractor of a waste-to-energy plant, both of which significantly contributed to profitability.
Additionally, Cypark said the large-scale solar photovoltaic projects in Kelantan successfully achieved their initial operational date on Nov 16, 2024, marking a key milestone in the group's renewable energy contributions to the national grid.
“With the successful completion of all outstanding projects, the group is now selectively pursuing new ventures.
“In line with its target of achieving 800 megawatts capacity by 2027, the group is proactively identifying expansion and diversification opportunities within the renewable energy sector.”
