Cypark secures new government contract for landfill upgrading

Posted on December 31, 2011. Filed under: Waste |

-Borneo Post Online-

KUCHING: Environmental technology and engineering specialist Cypark Resources Bhd (Cypark), announced yesterday that the company received a Letter of Acceptance from the Ministry of Housing and Local GovernmentHou (KPKT) for the proposed upgrading of the landfill site at Kok Foh, Jempol, Negeri Sembilan worth RM14.7 million.

In a filing with Bursa Malaysia yesterday, Cypark said that the project completion date would be Nov 6, 2012; or 44 weeks from the date of site possession. The contract was expected to contribute positively to the earnings and net assets of Cypark for the financial year ending Oct 30, 2012.

The contract, amongst others, would involve works for the safe closure of one part of the landfill and the upgrading of the other part of the landfill into a sanitary cell.

Tan Sri Razali Ismail, non-independent, non-executive chairman and founder of Cypark, said, “The contract will further strengthen the company’s position as one of Malaysia’s leading specialists in solid waste management and integrated environmental solution.

“This new contract is an addition to the previously awarded contract by KPKT, which is currently being undertaken, for the safe closure and remediation of 16 landfills across the country, four sites out of which are also located in Negeri Sembilan.”

Cypark is primarily an environmental technology and engineering specialist, focusing on areas of integrated renewable energy, waste management, and environmental remediation.

The company has developed expertise and technical know-how to generate renewable energy whereby waste biomass, landfill gas and solar rays from the remediated sites and brown fields are harnessed to produce green energy at Integrated Renewable Energy Parks.

Razali continued, “By upgrading another landfill site at Negeri Sembilan, it clearly shows the State’s resolve in creating a higher standard of living for the population of Negeri Sembilan. We are proud to be able to do our part in cleaning up the environment for the Jempol population, so that they can enjoy a much healthier and less harmful lifestyle.”

Cypark registered a profit after tax of RM5.1 million for the financial quarter ended July 31, 2011 at the back of revenues amounting to RM35.2 million. The company posted a cumulative profit after tax of RM17.9 million or translated earnings per share of 12 sen.  The company currently has cumulative revenues of RM118.8 million.

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