SUSTAINING PRECIOUS
VALUE

ANNUAL REPORT 2022

Cover Rationale

The headline of the cover design – Sustaining Precious Value – refers to Taliworks Corporation Berhad’s determination to safeguard our priceless environment. As a company that spearheaded sustainability in Malaysia through its core business activities, it has also built tremendous intrinsic value.

Caring for nature is a theme that flourishes across Taliworks Corporation Berhad’s portfolio of businesses. A diamond is featured on the cover to symbolise the company’s enduring value as well as its neverending commitment to sustainability. In addition, there is a hitech grid in the cover design to emphasize the company’s embrace of innovation and advanced technologies.

Back

At A Glance

REVENUE

0

MILLION

PROFIT FOR THE FINANCIAL YEAR

0

MILLION

TOTAL SHAREHOLDERS’ EQUITY

0

MILLION

Financial Results

(in RM’000)

2021
2022

Revenue

317,880
302,577

Profit before Tax (“PBT”)

78,516
113,975

Gross Profit

123,659
139,695

Profit after Tax (“PAT”)

63,531
102,361

Operating Profit

96,899
118,765

Total Assets Employed

2,075,015
1,943,111

CHAIRMAN’S STATEMENT

Taliworks has been resilient. While COVID-19 left an indelible mark in our history, leaving many institutions and individuals reeling from the effects of the pandemic, we were fortunate, and through persistence and perseverance, we had a successful year.


There is no denying that rising commodity prices, inflation, regional tensions and resulting supply shortages are emerging risks for 2022. Moreover, the resurgence in COVID-19 cases led by Omicron and its sub-variants continues to be a cause for concern. The global outlook remains weak, where the International Monetary Fund projected (in Jan 2022, before the war in Ukraine) that global economic growth will moderate from 5.9% in 2021 to 4.4% in 2022. In comparison, Malaysia is in a better position, with Bank Negara Malaysia projecting the economy to grow between 5.3% and 6.3%, supported by continued expansion in global demand, relaxation of containment measures, reopening of international borders, improvement in labour market conditions and recovery in private investment.

YAM TUNKU ALI REDHAUDDIN IBNI TUANKU MUHRIZ

INDEPENDENT NON-EXECUTIVE CHAIRMAN

4 CORE BUSINESSES

WATER TREATMENT, SUPPLY AND DISTRIBUTION

One of Taliworks’ core businesses is in the water supply sector. The business entails an operations and maintenance (“O&M”) contract for the Sungai Selangor Water Treatment Plant Phase 1 (“SSP1”) that supplies treated potable water to large parts of Selangor and Kuala Lumpur.

HIGHWAY TOLL CONCESSIONAIRE, OPERATIONS AND MAINTENANCE OPERATOR

Taliworks owns and operates two highways, specifically the Cheras-Kajang Highway, also known as Grand Saga Highway and the New North Klang Straits Bypass Expressway, or commonly referred to as the Grand Sepadu Highway.

ENGINEERING AND CONSTRUCTION

Taliworks’ engineering and construction activities are undertaken by its wholly-owned subsidiary, Taliworks Construction Sdn. Bhd. (“Taliworks Construction”). Taliworks secured its first construction project in 2002 i.e. the RM120 million Projek Bekalan Air Kedah Tengah, which was implemented according to the design and build mode of delivery.

WASTE MANAGEMENT

Taliworks’ involvement in the waste management business started in May 2016 when it acquired a 35% equity interest in SWMEH. SWMEH is a waste management and public cleansing service provider in the southern region of Peninsular Malaysia, namely Johor, Negeri Sembilan and Melaka, established in line with the National Privatisation of Solid Waste Management. SWMEH’s wholly-owned subsidiary, SWM Environment Sdn. Bhd. (“SWME”) is the concession owner for the provision of solid waste collection and public cleansing services, with the oncession period ending on 31 August 2033.

SUSTAINABILITY AT TALIWORKS

To ensure a progressive and inclusive future for all while looking out for business opportunities and risks, Taliworks (or the “Group”) has incorporated key Economic, Environmental and Social (“EES”) considerations into our operations, focusing on sustainability as a roadmap for shared success. As a provider of essential infrastructure and services, we believe these considerations will enable us to generate long-term shareholder value, lay the foundation for a sustainable society while playing an important role in advancing the interest of other stakeholders.

OUR SUSTAINABILITY FRAMEWORK

Four central pillars support the Sustainability Framework and ensure that all our operations are able to spur growth, enhance productivity and effectively minimise sustainability risks.

Better Business Through Innovation

Leveraging technology and innovation for the creation of products and services to increase sustainability of our business and value chain.

Impact-Positive Environmental Practices

Minimising the impact of our operations on the environment and proactively responding to climate change through positive actions.

Valued Human Capital

Creating a safe and healthy working environment.

Enriched Communities

Making meaningful contributions to the communities around us through service that enriches lives.

WASTE MANAGEMENT
Our human resource department has been kept considerably occupied with driving continuous effort in developing knowledge, skills, competencies and capabilities of our workforce by exposing them to appropriate and consistent training with the objective of boosting performance and productivity at the workplace.
WATER TREATMENT, SUPPLY AND DISTRIBUTION
To ensure that consumers are assured of clean water that meets the Ministry of Health’s standards and adequate supply of treated raw water at all times, we place great importance in ensuring that our WTP and equipment are kept under good and optimal working conditions and that the preventive rehabilitation, upkeep and maintenance programmes are strictly complied with and promptly attended to.
HIGHWAY TOLL CONCESSIONAIRE, OPERATIONS AND MAINTENANCE OPERATOR
During the year, the total traffic throughput at our Highway was 26.80 million (2020: 27.76 million) paying vehicles with Bukit Raja Toll Plaza accounted for approximately 61% of the total ADT compared to 64% in 2020. Kapar Toll Plaza and MOC B accounted for 22% and 11.0% compared to 20% and 11% respectively in 2020.
ENGINEERING AND CONSTRUCTION
2021 was an eventful year for us as our persistent efforts in tendering for new projects has borne fruits where in the last quarter of 2021, these newly secured projects will contribute positively to our financial performance for the next three years from 2022 to 2024.

DOWNLOAD

DOWNLOAD OUR ANNUAL REPORT 2022

DOWNLOAD
  • Governance
  • Financial Statements
  • Other Information