Latest news with #WCEHoldingsBhd
The Star
27-05-2025
- Business
- The Star
Higher toll collections lift WCE's 4Q25 revenue
The concession segment saw toll collection revenue surge 107% year-on-year. PETALING JAYA: WCE Holdings Bhd , the operator of the 233km West Coast Expressway, expects to move closer to profitability as more sections of the expressway open, boosting toll revenue and easing the impact of financing costs. The group said its outlook is supported by the continued ramp-up in sectional toll revenue and the scheduled opening of the remaining three sections: Section 3 (Shah Alam Expressway-Federal Highway Route 2), Section 4 (Federal Highway Route 2-New North South Klang Straits Bypass) and Section 7 (Assam Jawa-Tanjung Karang) 'As the full alignment becomes operational, the group anticipates a transition toward sustained profitability,' WCE said in a filing with Bursa Malaysia. WCE's revenue surged in its fourth quarter ended March 31 (4Q25), driven by higher construction activity and rising toll collection from newly opened sections of the West Coast Expressway. However, interest costs kept the group in the red. For 4Q25, WCE's topline surged nearly 250% to RM318.13mil, compared with RM91.57mil in the corresponding quarter a year ago. Despite the stronger revenue, the group remained in the red, although its net loss narrowed significantly to RM13.64mil from RM60.76mil in 4Q24. WCE attributed the continued losses mainly to interest costs related to completed sections, which amounted to RM54.8mil in 4Q25 compared with RM43.8mil in 4Q24. For its full financial year 2025 (FY25), the group's revenue rose 2.3% to RM629.1mil from RM614.7mil in FY24. However, the group's net loss widened slightly to RM138.64mil, compared with RM133.74mil in the previous financial year. Still, WCE recorded earnings before interest, taxes, depreciation and amortisation of RM98.2mil in FY25, indicating the group is profitable at an operating level. The concession segment saw toll collection revenue surge 107% year-on-year (y-o-y), driven by increased traffic following the opening of three key sections. However, overall concession revenue fell 18%, due to the recognition of lower construction revenue following project completion. In 4Q25 alone, concession revenue rose 144% y-o-y, driven by higher construction activity for rest and service areas along the expressway and higher toll collections. The West Coast Expressway runs from Banting, Selangor to Taiping, Perak, under a build-operate-transfer concession of up to 60 years from Dec 20, 2013. As at March 31, eight of 11 sections of the expressway were operational, covering 180km. Meanwhile, the construction segment, undertaken by WCE Maju Sdn Bhd, saw FY25 revenue soar 431%, supported by intensified project execution. Key ongoing work includes an access road to a mixed development in Kota Seri Langat in Selangor, construction of Section 7B, and 10 rest areas. The construction segment posted a pre-tax profit of RM3.7mil, reversing a loss of RM4.1mil in FY24. 'Looking ahead, the continued ramp-up in sectional toll revenue is expected to further improve the group's financial performance in terms of cash flows and operating results,' WCE said. 'In the long term, as the full WCE alignment becomes operational, revenue growth is anticipated to outpace financing costs, supporting a transition to sustained profitability.'
New Straits Times
27-05-2025
- Automotive
- New Straits Times
WCE's revenue soars 247pct in Q4, losses narrow on expressway openings
KUALA LUMPUR: WCE Holdings Bhd's net loss narrowed to RM13.64 million for the fourth quarter ended March 31, 2025 (4Q25), from RM60.76 million a year earlier, on lower interest costs for completed highway sections. Quarterly revenue jumped 247.5 per cent to RM318.13 million from RM91.57 million, driven by higher toll collections and intensified construction activity following the opening of key sections of the West Coast Expressway (WCE). The stronger performance was attributed to increased construction activities across both the concession and construction segments, as well as a 79 per cent rise in toll revenue following the openings of Sections 1, 2 and 11. Loss per share shrank to 0.44 sen from 2.03 sen in 4Q24, according to the group's filing with Bursa Malaysia. Construction revenue rose 164 per cent in 4Q25 versus the same quarter last year, mainly due to ongoing Rest and Service Area works along the expressway. WCE Maju Sdn Bhd, the group's construction arm, posted a 1,879 per cent surge in revenue for the quarter, reflecting the ramp-up in project execution. For the full financial year ended March 31, 2025 (FY25), WCE Holdings recorded a wider net loss of RM138.64 million compared to RM133.74 million in FY24, while revenue increased to RM629.1 million from RM614.72 million. Looking ahead, the group remains optimistic about further operational improvements, supported by higher sectional toll revenue and the opening of the final three sections: Section 3 (KESAS–Federal Highway Route 2), Section 4 (Federal Highway Route 2–NNKSB), and Section 7 (Assam Jawa–Tanjung Karang). With the full alignment nearing completion, the group expects a transition toward sustained profitability.
New Straits Times
21-04-2025
- Business
- New Straits Times
West Coast expressway gets green light to accept RM1.5bil loan facility
KUALA LUMPUR: WCE Holdings Bhd's 80 per cent-owned subsidiary West Coast Expressway Sdn Bhd (WCE) has received the Malaysian government's approval to accept a term loan facility of up to RM1.15 billion from Bank Pembangunan Malaysia Bhd. In a filing with Bursa Malaysia, WCE Holdings said the financing facility would be used to partly finance the costs and expenses related to the construction and development of the West Coast Expressway, as well as other associated fees and expenses. The company added that the financing facility would provide the necessary funding to ensure the expressway's completion.
The Star
21-04-2025
- Business
- The Star
West Coast Expressway gets green light to accept RM1.15bil loan facility
The West Coast Expressway operations centre at Bandar Bukit Raja, Klang in Selangor. KUALA LUMPUR: WCE Holdings Bhd 's 80 per cent-owned subsidiary West Coast Expressway Sdn Bhd (WCE) has received the Malaysian government's approval to accept a term loan facility of up to RM1.15 billion from Bank Pembangunan Malaysia Bhd. In a filing with Bursa Malaysia, WCE Holdings said the financing facility would be used to partly finance the costs and expenses related to the construction and development of the West Coast Expressway, as well as other associated fees and expenses. The company added that the financing facility would provide the necessary funding to ensure the expressway's completion. - Bernama
New Straits Times
21-04-2025
- Business
- New Straits Times
West Coast expressway gets green light to accept RM1.5 bil loan facility
KUALA LUMPUR: WCE Holdings Bhd's 80 per cent-owned subsidiary West Coast Expressway Sdn Bhd (WCE) has received the Malaysian government's approval to accept a term loan facility of up to RM1.15 billion from Bank Pembangunan Malaysia Bhd. In a filing with Bursa Malaysia, WCE Holdings said the financing facility would be used to partly finance the costs and expenses related to the construction and development of the West Coast Expressway, as well as other associated fees and expenses. The company added that the financing facility would provide the necessary funding to ensure the expressway's completion.
