Solid waste management company eyeing Malaysia’s main market listing

Cypark Resources Berhad, a leading service provider in environmental engineering and technology services, announced recently that the company expects to float its entire enlarged issued and paid-up share capital on the Main Market of Bursa Malaysia Securities Berhad by the end of this year.

Cypark is an integrated environmental and landscape services expert, said to have a successful track record both locally and internationally. The company was co-founded by the Chairman, Tan Sri Razali Ismail, Group Chief Executive Officer, Daud Ahmad and Executive Director, Siow Kwang Khee in 1999, to specialise in the application of environmental science and technology and strategic skills, to provide innovative and practical solutions for a wide variety of environmental problems.

Leachate before undergoing treatment through the leachate management system that CRB has developed. Leachate is the dirty and dark water found in landfills and some are highly toxic in nature.

The company specialises in providing solutions to waste management, which is one of Malaysia’s most critical environmental hazards. Cypark has developed a Sustainable Engineered Restoration (“SER”) System which combined internal technologies and engineering expertise to design and build landfill closure system that mitigate or eliminate the impact of harmful pollutants to the environment and surrounding ecology and habitat. The company also developed the leachate management system that can be adopted either by a new sanitary or closed landfill.

Group Chief Executive Officer of Cypark, Encik Daud Ahmad said:

This proposed listing is a major milestone for Cypark, established since 1999 to specialise in the application of environmental science and technology and strategic skills, to provide innovative and practical solutions for a wide variety of environmental problems.

He said:

In the market that we are operating in, changes can only be brought about by regulation. We were faced with the prospect of uncertainty about the Government’s readiness to deal with the waste management issues in the past but the readiness is clear at this point in time with the introduction of the Solid Waste and Public Cleansing Act in 2007. That single change in policy brought about this RM5Billion per annum industry called solid waste management. Being a unique solution provider to this specific field thus far, landfill closure alone, will keep us busy for quite a while.

Landfills will remain the predominant route for waste in Malaysia for the foreseeable future. There are more than 17,000 tonne of waste generated daily, most of which land up in unsanitary landfills. These landfills must be closed or replaced by the government. Under RMK10, the Government has allocated the budget to close more than 112 landfills.

Leachate after treatment. After treating the leachate, the water is clean and safe for consumption. Looking on is CRB Group CEO, Daud bin Ahmad (right)

Besides landfills treatment and restoration services, Cypark also provides environmental solutions focusing on the area of contaminated land through internally developed technology named COLARIS, ground water assessment, remediation, and information system (“GARIS”), environmental monitoring and management, and wastewater treatment.

Daud said:

We are excited about the prospect of listing the company, more so for what lies ahead. The listing of Cypark will make us a major player in this space and the strength to raise financing to secure much larger projects and concessions. This listing represents our clear strategic intent. While our innovative environmental solutions solve government’s waste issues, we believe we can now complement our service offerings with better financing solutions, for instance, through Private Financing Initiatives (PFIs). This will allow our government to quickly address environment issues without the worry of budgetary and financial limitations.

Some of Cypark’s high profile projects include Taman Beringin Landfill Restoration Project which was a flagship project to turn a landfill into an environmental site, Waterfront Promenade in Putrajaya as well as the Asia Games Village in Doha. The Company has also been mandated to close an additional 16 landfills nationwide, and the projects are currently on schedule.