AWC Bhd’s wholly-owned subsidiary Ambang Wira Sdn Bhd and the Government of Malaysia have mutually terminated the contract for the facilities management of Terminal Bersepadu Selatan (TBS), in Bandar Tasik Selatan, Kuala Lumpur.
The contract value for the maintenance of the TBS was approximately RM130 million and was slated to be carried out over a period of five years.
Commenting on the TBS contract, AWC’s Managing Director & Group CEO, Dato’ Ahmad Kabeer said, “We are disappointed with the termination of the TBS contract, however; our facilities division has secured an impressive RM131.4 million worth of maintenance contracts over the past few months from JKR that minimises the impact from the termination of the TBS contract.”
“The current outstanding orderbook for the facilities division stands at RM851.6 million and represents a cover of approximately 7.4 times FYE2017 division revenue. This puts us in a good position to sustain growth for the division as we continue to aggressively tender for more contracts.”
To recap, AWC recently announced yet another record year with revenue and PATMI of RM296.14 million and RM21.59 million respectively for its financial year ended 30 June 2017 (“FYE2017”). This significantly surpassed the previous year’s achievements.
The Group also announced a final dividend of 1.0 sen per ordinary share in addition to an interim single-tier dividend of 1.0 sen that was paid on 5 April 2017. This brings the total dividend for the year to 2.0 sen per ordinary share or a total payout of RM5.3 million, translating to a dividend payout ratio of 24.2%.
As at 30 June 2017, the Group’s balance sheet remained robust, boasting a net cash position of RM62.4 million and current ratio of 2.6 times. The Group’s outstanding orderbook as at 30 June 2017 stood at approximately RM1.1 billion.