KUALA LUMPUR, Feb 25 — UEM Edgenta Bhd’s net profit fell to RM148.24 million for the financial year ended Dec 31, 2018 (FY18) from RM418.19 million posted the previous year.
Revenue, however, rose three per cent to RM2.18 billion from RM2.10 billion previously, derived across all of UEM Edgenta’s major business divisions, it said in a filing with Bursa Malaysia today.
It said the healthcare support division delivered a strong eight per cent increase in revenue on a year-on-year basis on the back of new contracts secured in FY18 in Singapore and Taiwan, coupled with a high customer retention rate of almost 90 per cent in its commercial business.
“The division has also benefited from the continuous sharing of best practices and technology transfer between its concession and commercial businesses such as the introduction of UETrack, the commercial business’ proprietary technology for service delivery, in Malaysian government hospitals.
“These practices, coupled with a healthy pipeline of new projects, will enable organic growth for UEM Edgenta in FY19,” the asset management and infrastructure solutions company said.
Managing director/chief executive officer Datuk Azmir Merican said the group has leveraged on new technologies to drive its growth in shaping an operationally excellent environment.
“We remain optimistic of our prospects in healthcare and infrastructure. As the industry leader in these sectors in the countries we operate, we will focus on protecting our market share, as well as expand and deepen our value chain offerings,” he added.
For FY18, UEM Edgenta has declared a total dividend payout of 14 sen. — Bernama
