Forum : Stock: [CYPARK]: CYPARK RESOURCES BERHAD

At present, Cypark operates, owns, and/or manages approximately 96 MWp of RE assets. By FYE 2022, with the targeted completion of 172 MWp LSS3 project in Terengganu, 147 MWp LSS2 project in Kedah and Kelantan and the 20 MW SMART WTE Plant in Negeri Sembilan in 2022 together with other RE assets under our stable, Cypark will increase its operation of RE asset capacity to about 400 MW, strengthening Cypark’s position as the RE market leader in Malaysia. Subsequent to FYE 2021, the 49 MW LSS2 project in Sik, Kedah had successfully achieved COD on 1 January 2022. With the impending completion of the LSS2 and LSS3 projects, RE will remain as the major contributor to Cypark’s revenue and profit in year 2022. Cypark also looks into ways to expand its reach in RE, both locally and internationally, through collaboration with renowned leaders in their respective fields. To this end, we have entered into a Memorandum of Understanding (“MOU”) with Huawei Technologies (Malaysia) Sdn Bhd (Huawei) on 3 December 2021 to collaborate for the purposes of a long-term cooperation for a total of 500 MW RE projects located in and outside Malaysia. In this arrangement, Huawei will act as the technology enabler and it will undertake to provide the technical and after-sales support for all products and solutions. Meanwhile, Cypark would be the user and installer of the said products and solutions, subject to agreement of both parties and the terms and conditions of the collaboration. The MOU is in effect from the date of signing and will remain effective for a period of two (2) years until the execution of the set of definitive agreements between the parties or such other period as may be mutually agreed upon in writing. In line with Malaysia’s goal of becoming a carbon neutral nation by 2050, Huawei will leverage on its extensive experience in power electronics and energy storage, as well as on its technical expertise to provide a digital powered solution for different industries, including RE. This MOU not only signifies Cypark’s intention to grow beyond local shores, but it also proves Cypark’s desire to have innovation and digitalisation embedded into its RE project offerings. In addition to this partnership, together with Cypark’s proven competitive advantage and project delivery track record, Cypark is optimistic on its chances to secure oversea contracts in the near future. In addition, the Ministry of Energy and Natural Resources (“KETSA”) had taken the initiative to announce on 22 October 2021 that the Government will be releasing an additional quota of 300 MW of solar energy under the NEM 3.0 programme. Such additional quota which was released on 15 November 2021 is expected to open up more opportunities for the Company to offer rooftop solar solutions to non-domestic consumers in the commercial, industrial, mining and agriculture industries.

nicholas99

9,897 posts

Posted by nicholas99 > 2023-04-05 10:02 | Report Abuse

Construction & Engineering-
With progressive lifting of Movement Control Order (“MCO”) in 2021, albeit a contraction in the construction sector generally, the decline has been cushioned by a rebound in the specialised construction activities subsector. The prospect for the construction sector nationwide in 2022 is forecast to achieve double digit growth driven by higher productivity and margins. The civil engineering subsector will continue to be the main driver of the construction sector. Cypark continues to intensify its efforts and resources to secure more projects in construction of infrastructure, landscaping, residential and commercial buildings withs its proven experience and credibility.

Green Technology & Environmental Services-
Cypark’s biogas and biomass plant in Kg Gajah which utilises by-products from the Palm Oil Industry, mainly the Palm Oil Mill Effluent (“POME”) and Biomass Engineered Fuel (“BEF”) has just begun generating income and expected to contribute significantly to the segment from FYE 2022 onwards. This plant is also considered as one of its kind in the palm oil industry where it integrates the usage of biogas and biomass that led to the company being awarded in the National Energy Awards (“NEA”) 2021 and simultaneously contributes to the country’s aspiration in reducing carbon emission arising from agriculture sector. Looking ahead, Cypark has plans to incorporate solar system into the plant in year 2022 under the NEM initiative. The holistic approach innovated by Cypark will make both the products sold (biomass solid fuel and biogas from palm oil waste) and the production process using solar energy to be environmentally sustainable, hence promoting a true circular economy.

Waste Management & Waste-to-Energy (“WTE”) -
The SMART WTE project in Ladang Tanah Merah, Negeri Sembilan is also expected to reach its completion and operation stage in 2022. This will elevate Cypark to another stage of its competitiveness as it will be the first and distinctive such plant in Malaysia. This integration of advance waste treatment and recovery facilities together with WTE plant is the first of its kind in this region and it is expected to contribute circa RM80 million per annum in revenue. Cypark has participated in two WTE tenders in Johor and Malacca in collaboration with Johor and Malacca state owned companies. The two WTE tenders are part of the five WTE tenders that were announced by KPKT under its national WTE implementation plan. With the track record in designing, constructing, owning, and operating the country’s first WTE plant, Cypark stands a good chance to win more WTE projects in the future. Cypark expects future WTE plant capacity to be between 15MW and 25MW with an expected investment value of above RM500 million each.

yong1985cm

215 posts

Posted by yong1985cm > 2023-04-05 10:37 | Report Abuse

a lot of thing written in the QR is not correct, the MOU with Hua Wei ady lapsed. pity cypark does not have good accountant to do QR for them, i saw they got vacancy on finnace manager over jobstreet.

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