AWC wins RM18.4mil waste system contract

KUALA LUMPUR: AWC Bhd’s wholly-owned subsidiary, Stream Environment Sdn Bhd (SESB), has entered into a RM18.4mil concession agreement with Landasan Kapital (M) Sdn Bhd (LKSB) and Terminal Bersepadu Gombak Sdn Bhd (TBGSB).

The agreement covers the construction, operation, service, and maintenance of an automated waste collection system at Terminal Bersepadu Gombak, Kuala Lumpur, for a period of ten years, starting March 15, 2025.

Group chief executive officer/president Datuk Ahmad Kabeer Mohamed Nagoor said that securing the concession was a significant milestone for the company, as it was a testament to their deep technical expertise and proven track record.

“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.

“It also enhances the RM163mil order book of our environment division as of end-December 2024,” he said in a statement.

“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.