Taliworks gains 2.25% after 3Q net profit triples

Taliworks gains 2.25% after 3Q net profit triples

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KUALA LUMPUR (Nov 28): Shares in Taliworks Corp Bhd gained 2.25% this morning after its net profit tripled to RM72.64 million for 3QFY19 from RM19.68 million last year, boosted by a gain relating to the termination of an agreement by Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH).

At 9.15am, Taliworks added 2 sen to 91 sen, giving it a market capitalisation of RM1.83 billion.

Revenue, however, fell 5% to RM93.62 million from RM98.36 million.

For the nine-month period, net profit surged 113% to RM95 million from RM44.7 million last year, despite a 2% decrease in revenue at RM271.57 million from RM277.13 million.

The group announced the appointment of Tunku Ali Redhauddin Ibni Tuanku Muhriz — formerly senior vice-president/director of investments at Khazanah Nasional Bhd between 2004 and 2010 — as its independent non-executive chairman, and Datuk Roger Tan Kor Mee as its independent non-executive director, effective today. Tunku Ali is also the independent non-executive chairman at Bumi Armada Bhd.