What’s Up? … dated Nov 2010
In five years, Cypark envisages equal revenue contribution from RE and its present business of closing and upgrading existing unsanitary landfills in addition to building new ones.
Cypark is looking at generating RE in the form of biogas and biomass.
Although Cypark is ready to begin generating RE, it is waiting for the new feed in tariff of 32 sen per kilowatt/hour to be implemented under the RE Act from the present nine sen.
The harvesting and conversion of biogas to energy and the conversion of solid waster to biomass is not distracting the company from its core business of environment remediation.
Another possible are of RE the company is considering is solar power.
It currently gets nearly all its contracts from the government. It has secured contracts to close 17 of the 112 unsanitary landfills Malaysia under the 10MP.
The company’s top three shareholders are also in the management team, with chairman and founder Tan Sri Rozali Ismail holding the majority stake of 32.33%, followed by executive vice chairman K K Siow with 9.98% and group financial controller Tan Swee Loon with 9.02%. Group CEO Daud Ahmad holds 8.77%.
Three other long term investors are LTAT, OSK-UOB Asset Management and Great Eastern Asset Management collectively holds 35% stake.
There is speculation that Eukinas was considering acquiring a stake in CyPark. However Daud says the company has not received any indication of interest from the fund, although it is open to opportunities with suitable strategic partners.
In five years, Cypark envisages equal revenue contribution from RE and its present business of closing and upgrading existing unsanitary landfills in addition to building new ones.
Cypark is looking at generating RE in the form of biogas and biomass.
Although Cypark is ready to begin generating RE, it is waiting for the new feed in tariff of 32 sen per kilowatt/hour to be implemented under the RE Act from the present nine sen.
The harvesting and conversion of biogas to energy and the conversion of solid waster to biomass is not distracting the company from its core business of environment remediation.
Another possible are of RE the company is considering is solar power.
It currently gets nearly all its contracts from the government. It has secured contracts to close 17 of the 112 unsanitary landfills Malaysia under the 10MP.
The company’s top three shareholders are also in the management team, with chairman and founder Tan Sri Rozali Ismail holding the majority stake of 32.33%, followed by executive vice chairman K K Siow with 9.98% and group financial controller Tan Swee Loon with 9.02%. Group CEO Daud Ahmad holds 8.77%.
Three other long term investors are LTAT, OSK-UOB Asset Management and Great Eastern Asset Management collectively holds 35% stake.
There is speculation that Eukinas was considering acquiring a stake in CyPark. However Daud says the company has not received any indication of interest from the fund, although it is open to opportunities with suitable strategic partners.
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