Latest news with #WawasanDengkilHoldingsBhd
New Straits Times
5 days ago
- Business
- New Straits Times
Wawasan Dengkil rallies over 16pct, nears 25 sen IPO level
KUALA LUMPUR: Wawasan Dengkil Holdings Bhd surged more than 16 per cent in early trade, closing in on its initial public offering (IPO) price of 25 sen, a level it failed to hold on debut in March. The counter opened flat at 21 sen before climbing 16.67 per cent or 3.5 sen to a morning high of 24.5 sen, amid a broader market optimism that also saw a strong debut from Signature Alliance Group Bhd. The FTSE Bursa Malaysia KLCI also opened higher, gaining 2.73 points or 0.18 per cent to 1,510.70. Most sectoral indices were in the green, except energy, financial services, healthcare and telecommunications and media. By 11.34am, the earthworks and civil engineering firm had eased to 23.5 sen, still up 11.90 per cent with 3.57 million shares changing hands. Since its ACE Market debut on March 25, the stock has touched a low of 20.5 sen, after ending its first trading day two sen, or eight per cent, lower at 23 sen. The firm has breached the IPO price of 25 sen twice over the past 72 days, reaching a high of 25.5 sen, its highest level so far. Wawasan Degkil, which specialises in road, drainage and sewerage system construction, posted a net profit of RM2.13 million for its third financial quarter ended March 31, 2025. The earnings were lifted by contributions from its construction segment and lower depreciation costs in its machinery rental unit. Revenue came in at RM40.63 million, mainly from ongoing infrastructure projects such as the LRT Line 3, Sungai Long and Setia Alaman developments. No year-on-year comparisons were available as this marks Wawasan Dengkil's first financial disclosure since listing. As at end-March, the group held RM24.39 million in cash and bank balances. Total liabilities stood at RM96.09 million, including RM52.75 million in bank borrowings. The group said it remains focused on delivering its RM369.6 million order book, comprising 13 active projects. It also plans to pursue solar infrastructure jobs under the National Energy Transition Roadmap.
The Sun
25-05-2025
- Business
- The Sun
Wawasan Dengkil registers RM134.7 million revenue for nine-months FY25
PETALING JAYA: Earthworks and civil engineering construction services provider Wawasan Dengkil Holdings Bhd recorded revenue of RM134.7 million for the nine months ended March 31, 2025 (9M25), with 89.6% contributed by its construction services segment and the balance by its trading of construction materials and hiring of machinery and commercial vehicles segments. Group profit after tax (PAT) stood at RM8.2 million, translating into a healthy margin of 6.1%. After excluding the one-off IPO listing expenses of RM1.3 million for 9M'25, Wawasan Dengkil would have recorded an adjusted PAT of RM9.5 million and an adjusted PAT margin of 7.1% for the financial period under review. Wawasan Dengkil also announced its third quarter (Q3'25) financial results. On a quarter-on-quarter basis, the group recorded revenue of RM40.6 million in Q3'25, compared to RM48 million in the previous quarter (Q2'25). This was mainly due to lower contributions from the construction segment as several projects were completed or near completion. The trading segment also saw lower contribution in the quarter following the completion of a major customer's project. Meanwhile, the group registered PAT of RM2.1 million in Q3'25, which, after excluding the one-off IPO listing expenses, would have been RM2.9 million and is comparable to Q2'25's PAT of RM3.4 million. There are no comparative figures for the preceding corresponding quarter and period ended as the company was listed was listed on the ACE Market of Bursa Securities on March 25. Wawasan Dengkil executive director Lim Soon Yik said, 'We are pleased to report a set of healthy performance following our recent listing on Bursa Securities. Our project pipeline remains strong and will keep us engaged over the next two to three financial years. Currently, we are managing 13 ongoing construction projects, with an unbilled order book of RM369.6 million as at March 31 2025. 'While we are mindful of tariff developments, the group does not foresee any impact as we operate domestically without reliance on imports or exports. The outlook remains positive, with the construction industry to benefit from government-led initiatives and increased spending in infrastructure development. With the RM27 million in fresh capital raised through the IPO, we are aiming to enhance our internal capabilities to tender for more and larger-scale projects. 'As of March 31, 2025, our tender book stands at RM1.6 billion, primarily within civil engineering services for property development, highways, urban rail construction, as well as solar farm infrastructure works.' Additionally, the group is well-positioned to capitalise on the national energy transition, which aims for a 40% renewable energy capacity target by 2035. Utility-scale programmes such as LSS5, LSS5+, and the upcoming LSS6 present significant opportunities for the group. As earthworks are typically required during the initial phases of building and infrastructure projects, Wawasan Dengkil is strategically placed to benefit from these growth prospects.
