KUALA LUMPUR: Main market-listed leading engineering services group, AWC Bhd’s wholly-owned subsidiary, Stream Environment Sdn Bhd (SESB), signed an agreement with Landasan Kapital (M) Sdn Bhd (LKSB) and Terminal Bersepadu Gombak Sdn Bhd (TBG) for a build-operate-transfer (BOT) concession that includes construction, operation, service and maintenance of an automated waste collection system at Terminal Bersepadu Gombak, Kuala Lumpur.
The concession agreement is for ten years commencing on March 15, 2025, with a total value of RM18.4 million.
AWC group CEO and president Datuk Ahmad Kabeer Mohamed Nagoor said securing this concession is certainly a significant milestone for the company, as it is a testament to its deep technical expertise and proven track record.
“Furthermore, it underscores our environment division’s continued growth and technological leadership in automated waste collection systems, showcasing our implementation of cutting-edge technologies.
“More importantly, the concession agreement gives us clear earnings visibility over the next ten years, further boosting our recurring revenue, which currently stands at approximately 22% of total turnover,“ he said.
He added that the agreement also enhances the company’s RM163 million order book of its environment division as of end-December 2024.
“Looking ahead, we remain upbeat on the prospects of our environment division as we see ample opportunities in this space both locally and globally.
“The group is leveraging our proprietary technologies and deep industry expertise to capitalise on them, contributing to advancing sustainable urban infrastructure.
“For us, we see automated waste collection as the future of urban infrastructure management and we are not just managing waste, but we are redefining how modern transportation terminals operate by creating efficient, environmentally-friendly solutions for these public transportation hubs,” Ahmad Kabeer said.
This is the group’s second BOT project, with the first being the successful decade-long BOT project at the KLIA Terminal 2, which has now transitioned into a three-year maintenance contract valued at RM8.9 million.
These contracts demonstrated AWC’s ability to create long-term value and maintain strong client relationships.
Ahmad Kabeer said AWC remain upbeat on the prospects of its environment division and sees ample opportunities in this space both locally and globally.
