Puncak Niaga Holdings Bhd has posted RM241.708 million pre-tax profit for the first half ended June 30, 2012 against RM45.477 million pre-tax loss in the same quarter last year.

Revenue rose to RM1.732 billion from RM1.086 billion.

Executive Chairman Tan Sri Rozali Ismail said water revenue from 70 per
cent-owned subsidiary, Syarikat Bekalan Air Selangor (Syabas) climbed 3.5 per cent or 26.4 million to RM791 million due to higher water demand from consumers in Kuala Lumpur and Selangor.

He said the latest financial results showed positive uptrend and growth in
new sectors for the group with its recent venture into the oil and gas industry in the second half of last year, coupled with improved contributions from local rural water supply projects secured in 2010.

"Puncak Niaga has made a right decision to invest in the oil and gas sector, together with its involvement in construction and environmental engineering.

"The two sectors have contributed to the group's profit," he said in a
statement today.

Rozali said the group would continue with its existing core business and
actively seek new projects and concessions within the environment sector,locally and abroad and at the same time strengthen its position in the oil and gas sector. -- Bernama