INTEGRATED ANNUAL REPORT 2022 UEM EDGENTA BERHAD p.98 ASSET CONSULTANCY Represented by Opus Consultants, our Asset Consultancy division boasts more than 30 years of experience in delivering mega infrastructure projects, during which time they have amassed a portfolio that includes transportation, buildings and integrated developments. BUSINESS REVIEW p.99 1 2 3 4 5 6 7 8 9 MANAGEMENT DISCUSSION & ANALYSIS ASSET CONSULTANCY Drive infrastructure development across Malaysia Executed a shareholding agreement for a joint venture with PPES Consults Sdn. Bhd., a wholly-owned subsidiary of Sarawak Economic Development Corporation (“SEDC”) Initiated the setting up of a regional office in Kuching, Sarawak, as a permanent investment to intensify our business development activities, drive local capacitybuilding and enhance technology transfer in the region Pursue opportunities in new services Received an Extension of Time (“EOT”) for the provision of Independent Safety Audit services for the Sungai Besi - Ulu Kelang Expressway (“SUKE”) project Built a pipeline of opportunities in sustainability-related projects that leverage our core competencies in engineering and project management Consistently achieve high standards in engineering practice levels Adopted advanced and leading solutions in network planning management, resulting in optimised long-term budgeting due to refined deterioration analysis and a greater focus on highway maintenance Managed the inspection and implementation of the first maintenance of the Penang cable-stayed bridge, which occurs once every four years to optimise asset lifecycle and ensure user safety Achieving positive outcomes from our initial exploration of cold recycled mix as an alternative sustainable pavement technology Collaborated with the Taiping Municipal Council and achieved comparably good results in using sustainable pavement technology at Jalan Taming Sari, Taiping, when compared to conventional methods Conducted and completed the overall field trial lay monitoring using cold recycled mix along the North-South Expressway (“NSE”), with the initial findings indicating encouraging results Transferred the operations of our Pavement Research Centre (“PRC”) to the Infrastructure Services division to centralise, optimise and expand the adoption of resource-efficient technologies KEY FOCUS AREAS Project Management Asset Management Engineering and Technical KEY INITIATIVES RESULTS (RM million) Revenue 2021 2021 2022 99.8 82.7 1.8 (19.4) (RM million) PBT (RM million) Loss Before Tax 2022 FINANCIAL PERFORMANCE Continued to pursue diversification into new services and projects related to sustainability Made further inroads on our Pan Malaysia expansion strategy by setting up a regional office in Kuching, Sarawak Continued to build competencies in areas of core focus while enhancing readiness for potential growth opportunities Consistently delivered excellence in project execution while providing other value-added services for client satisfaction Uncertainty of some projects (which are reliant on government spending and the nation’s continued pandemic recovery) Highly competitive tendering in limited projects available for bidding Executed a shareholding agreement for a joint venture with PPES Consults Sdn. Bhd., a wholly-owned subsidiary of Sarawak Economic Development Corporation (“SEDC”), through Opus Consultants (Sarawak) Sdn. Bhd. Achieved more than 50% of local hiring for ongoing projects in Sarawak and Sabah Secured an Extension of Time (“EOT”) for the provision of Independent Safety Audit services to the Sungai Besi - Ulu Kelang Expressway (“SUKE”) project Secured industry awards from three prominent industry bodies: • IEM Award 2022 for Contribution to Asset Management (Industries category) • Occupational Safety and Health Award (Gold Class 1) from the Malaysian Society for Industrial Safety (“MSOSH”) • Malaysia Industry Excellence Gold Award from the Institution of Engineering and Technology (“IET”) D espite the impact of COVID-19, the infrastructure sector is expected to enter a stage of recovery and we anticipate that funding will be allocated towards the continuation of existing projects such as the Pan Borneo Highway, thereby benefitting our business W e will also continue to explore opportunities in new services and sustainability-related projects while ensuring the successful delivery of ongoing projects KEY CHALLENGES MITIGATING ACTIONS KEY ACHIEVEMENTS OUTLOOK
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