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CORPORATE MILESTONES

Over the years, we have achieved many goals and set benchmark after benchmark, pushing ourselves to do our best. Here’s a quick look at what has happened since it all began.

  • LGB Group undertook a reverse takeover exercise by injecting 100% equity interest in Sungai Harmoni Sdn. Bhd. (“Sungai Harmoni”) and Taliworks (Langkawi) Sdn. Bhd. (“Taliworks Langkawi”) respectively, and a 45% equity interest in C.G.E Utilities (M) Sdn Bhd (which had since ceased operations) into Carpets International Malaysia Berhad (“Carpets”), which was then listed on the Second Board of the Kuala Lumpur Stock Exchange (“KLSE”) (now known as Bursa Securities Malaysia Berhad) (July).
  • Carpets was transferred to the Main Board KLSE(which has since been merged with the Second Board into a single board known as the Main Market) (October).
  • Carpets was renamed Taliworks Corporation Berhad (“Taliworks”) (November).

  • Taliworks was named Forbes 100 Best Smaller-Sized Enterprises in the Asia Pacific and KPMG/The Edge Shareholders Value Awards (ranked no. 21 out of top 100 companies and ranked 2nd within the Infrastructure Grouping).
  • Taliworks completed a bonus issue exercise with the issuance of 58,700,000 new ordinary shares of RM1.00 each on the basis of one (1) new ordinary share for every two (2) existing ordinary shares held in Taliworks (December).

  • Taliworks diversified its business interests to include waste management in the People’s Republic of China.
  • Taliworks was ranked no. 85 out of the top 100 companies for the KPMG/The Edge Shareholders Value Awards.

  • Tianjin-SWM (M) Environment Ltd Co., a 90% owned subsidiary of Taliworks commenced operations in the Tianjin Panlou Municipal Solid Waste Transfer Station, People’s Republic of China (January).
  • Taliworks was ranked no. 78 for The Edge Top 100 Best Companies in terms of return (3 years).
  • Taliworks was ranked no. 40 out of the top 100 companies for the KPMG/The Edge Shareholders Value Awards.
  • Taliworks issued 70,440,000 warrants 2005/2010 pursuant to a rights issue of warrants on the basis of 1 warrant for every 5 ordinary shares of RM0.50 each held after the split of every 1 ordinary share of RM1.00 each into 2 ordinary shares of RM0.50 each (September).
  • Taliworks adopted a general dividend policy of distributing not less than 50% of its net earnings as gross dividends for the next three years commencing from the financial year 2006 (November).

  • Taliworks acquired a 56% stake in Puresino (Guanghan) Water Co. Ltd., a wastewater treatment service provider in April, and subsequently commenced commercial operations of the Guanghan San Xin Dui wastewater treatment plant (September).
  • Taliworks was ranked no. 87 out of 350 main board companies under the Corporate Governance Survey Report 2007 published jointly by the Minority Shareholder Watchdog Group and The University of Nottingham – Malaysia Campus.
  • Taliworks was ranked amongst the top 500 public listed companies selected based on market capitalisation as at 31 December 2006 under the Dividend Survey 2007 published jointly by the Minority Shareholder Watchdog Group and Universiti Teknologi MARA.
  • Taliworks diversified its business interests to highway toll operations and maintenance through the acquisition of 55% interest in a then joint venture company, Cerah Sama Sdn. Bhd. (“Cerah Sama”) for the Cheras-Kajang Highway, also known as Grand Saga Highway (November).
  • Taliworks issued 5-year unsecured convertible bonds 2007/12 with a nominal value of RM225 million (“Convertible Bonds”) (December).

  • Taliworks was ranked no. 45 out of 960 public listed companies under the Corporate Governance Survey Report 2008 published jointly by the Minority Shareholder Watchdog Group and The University of Nottingham – Malaysia Campus.

  • Taliworks was ranked amongst the top 100 public listed companies under the Malaysian Corporate Governance Report 2009 published by the Minority Shareholder Watchdog Group.
  • Due to changes in market conditions, Taliworks re-purchased RM112 million nominal value of the Convertible Bonds (December).

  • Taliworks redeemed the balance RM113 million nominal value of the Convertible Bonds and its obligations in respect of the Convertible Bonds were fully extinguished (December).

  • Taliworks was awarded the sub-contract of the Mengkuang Dam Expansion Project for a contract sum of RM339 million (September).
  • Taliworks (Yinchuan) Wastewater Treatment Co. Ltd., a wholly-owned subsidiary of Taliworks, completed the takeover of the operation of four municipal wastewater treatment plants with recycled water facilities in Yinchuan (December).

  • Taliworks was awarded the Brandlaureate Best Brand Awards 2011-2012 - Best Brands in Industrial - Water Treatment.
  • Taliworks’ entered into a joint-venture with LGB Engineering Sdn. Bhd. to undertake a contract by the State Government of Selangor for the construction and completion of Raw Water Pumping Main and Inter-connection at Matang Pagar Reservoir for a contract sum of RM20.3 million (March).

  • Cerah Sama issued RM420 million Islamic Medium-Term Notes (Sukuk Musharakah) under the Sukuk Programme of up to RM750 million in nominal value (January).
  • Taliworks (Langkawi) was granted an authorisation by the National Water Service Commission to undertake and carry out the operations and activities under the Langkawi Water Supply Privatisation Agreement (October).
  • Taliworks was listed among the Top 100 Malaysian Public Listed Companies (“PLC”) by the Minority Shareholder Watchdog Group as per the ASEAN CG Scorecard methodology on 862 PLC companies.

  • Taliworks gained control over Cerah Sama which subsequently became Taliworks’ subsidiary as a result of an internal re-organisation exercise. Subsequent to the internal re- organisation, Employees Provident Fund (“EPF”) acquired 31.85% effective equity interest in the Grand Saga Highway via TEI Sdn. Bhd. (“TEI”), marking its first partnership with EPF. Taliworks’ equity interest in Cerah Sama reduced from 55% to 28.05% (June to August).
  • The consortium of LGB-Taliworks JV was awarded the SSP3 Package Pipeline, involving the supplying and laying of 11km of 1,200 mm diameters of steel pipes with a contract value of RM30.6 million (June).
  • Taliworks announced a Dividend Policy of declaring a dividend payout ratio of not less than 75% of its consolidated profit after tax (excluding exceptional items) commencing the financial year ending 31 December 2015 (September).
  • Grand Sepadu Sdn. Bhd. (“Grand Sepadu”) executed a Novation Agreement and a Second Supplemental Concession Agreement to take over the New North Klang Straits Bypass Expressway, also known as Grand Sepadu Highway for cash consideration of RM265 million (December).

  • Grand Sepadu issued a RM210 million Sukuk Murabahah.
  • TEI acquired the remaining 35% equity interest in Cerah Sama held by SEASAF Highway Sdn. Bhd. Taliworks’s equity interest in Cerah Sama increased from 28.05% to 51%.
  • LGB Taliworks Consortium Sdn. Bhd., a 20% associate of Taliworks was awarded the SSP7 Project contract by Pengurusan Aset Air Berhad with a contract sum of RM75.9 million (September).
  • Taliworks issued 43,980,000 new placement shares of RM0.50 each at RM3.20 per share pursuant to a private placement exercise (October).
  • Taliworks issued 241,897,790 Warrants 2015/2018 on the basis of 1 Warrant for every 5 ordinary shares held after the share split comprising the subdivision of every 2 existing ordinary shares of RM0.50 each into 5 ordinary shares of RM0.20 each (November).
  • Taliworks completed the 2nd partnership with EPF via the disposal of its 50% equity interest in Pinggiran Muhibbah Sdn. Bhd. (the holding company of Grand Sepadu) to EPF (December).
  • Taliworks was included in the MSCI Global Small Cap Indexes for Malaysia.
  • Taliworks was ranked no. 91 out of the Top 100 Overall CG Companies – Disclosures with ROE Performance by the Minority Shareholder Watchdog Group.

  • In line with Taliworks’ new business strategy to focus on mature operational cash-generating utilities/infrastructure businesses to support its dividend policy, Taliworks completed the disposal of its entire waste management operations in the People’s Republic of China and acquired 35% equity interest in SWM Environment Holdings Sdn. Bhd. (“SWMEH”), a waste management and public cleansing service provider in the southern region of Peninsular Malaysia. This marked Taliworks’ 3rd partnership with EPF, where EPF also held 35% equity interest in SWMEH (May).
  • A consortium comprising of Taliworks and Ikatan Gemajaya Sdn. Bhd. was awarded the Ganchong Water Treatment Works from the East Coast Economic Region Development Council with the total contract sum of RM73.1 million (September).
  • SWM Environment Sdn. Bhd. (“SWME”), a 100% owned subsidiary of SWMEH, was awarded the Brandlaureate SMEs BESTBRANDS Award 2015-2016 - Signature Brand Services – Integrated Solid Waste Management.
  • Taliworks was awarded the IEM 2016 Award for Water Management in Malaysia.
  • Taliworks was ranked no. 44 out of the Top Malaysian 100 PLCs with Good Disclosures by the Minority Shareholder Watchdog Group.
  • Taliworks was ranked no. 29 out of the Top 100 Malaysian PLCs for Overall Corporate Governance and Performance by the Minority Shareholder Watchdog Group.

  • Taliworks was ranked no. 45 out of the Top Malaysian 100 PLCs with Disclosures by the Minority Shareholder Watchdog Group.
  • Taliworks was ranked no. 26 out of the Top 100 Malaysian PLCs for Overall Corporate Governance and Performance by the Minority Shareholder Watchdog Group.
  • SWME was awarded the Best Employer Branding Awards (3rd Edition) by Employer Branding Institute (India) in Malaysia.
  • SWME was awarded Gold Award (Private Sector) for the HR Award – Employer of Choice category by the Malaysian Institution of Human Resource Management.
  • SWME was awarded Gold Award (Head of Department) for the HR Leader category by the Malaysian Institution of Human Resource Management.

  • Sungai Harmoni accepted the Letter of Offer from Pengurusan Air Selangor Sdn. Bhd. (“Air Selangor”) relating to the settlement of past receivables owing from Syarikat Pengeluar Air Selangor Sdn Bhd (“SPLASH”) and to enter into a new operations and maintenance agreement (August).
  • Taliworks completed a bonus issue exercise with the issuance of 806,325,239 new ordinary shares on the basis of two (2) new ordinary shares for every three (3) existing ordinary shares in Taliworks (October).
  • Taliworks Construction Sdn. Bhd. accepted the Letter of Award for the proposed construction and completion including handing over to the authority of 76ML R.C. reservoir R4 and related ancillary works at Cyberjaya Flagship Zone for a contract sum of RM42.4 million (October).
  • The unexercised Warrants 2015/2018 that have lapsed were subsequently delisted (November).
  • SWME was awarded two silver medals by Perbadanan Teknologi Hijau Melaka under the category of Green Corporate Social Responsibility and Green Practices.
  • Taliworks was ranked no. 88 out of the Top Malaysian 100 PLCs with Disclosures by the Minority Shareholder Watchdog Group.
  • Taliworks was ranked no. 82 out of the Top 100 Malaysian PLCs for Overall Corporate Governance and Performance by the Minority Shareholder Watchdog Group.

  • Sungai Harmoni completed its negotiations with Air Selangor resulting in the execution of the following agreements (May):
    • Termination and Settlement Agreement (“TSA”) with Air Selangor and SPLASH in relation to the settlement of outstanding receivables due from SPLASH arising from the operations and maintenance agreement dated 24 January 2000 for Sungai Selangor Phase 1 water treatment plant (“SSP1”);(ii)Bulk Water Supply Agreement (“BWSA”) with Air Selangor in relation to the appointment of Sungai Harmoni as the operator for SSP1 and the supply of treated water up till 31 Dec 2036; and(iii)Raw Water Abstraction Agreement with Air Selangor in relation to the abstraction of raw water from the relevant raw water source for SSP1.
  • Sungai Harmoni received the Individual Licence pursuant to Section 9 of the Water Services Industry Act 2006 from the Suruhanjaya Perkhidmatan Air Negara and commenced operations of SSP1 under the BWSA (September).
  • Sungai Harmoni completed the securitisation of receivables owing from SPLASH under the TSA via Starbright Capital Berhad pursuant to an asset-backed securitisation exercise (December).
  • SWME was awarded the Perkhidmatan Skim Terbaik 2019 (Muar, Johor) by SWCorp.
  • Grand Sepadu was awarded the Silver Rating for operational highway from 31/06/2019 to 30/06/2024 under the Green Highway Index (MyGHI).

  • The expiration of Taliworks Langkawi’s privatisation contract with the Government of Kedah Darul Aman for the management, operations and maintenance of the water supply system in Pulau Langkawi. All operations were handed over to Syarikat Air Darul Aman Sdn. Bhd., a corporatised body under the State Government of Kedah (October).
  • Taliworks was ranked no. 53 out of the Top 100 Malaysian PLCs for Corporate Governance Disclosure 2020 by the Minority Shareholder Watchdog Group.
  • Taliworks entered into two separate Sales and Purchase Agreements to acquire four (4) solar assets with an aggregate capacity of 19-megawatt peak, located within the vicinity of the Kuala Lumpur International Airport (December).

  • Taliworks was ranked no.8 out of the top 10 mid-cap companies (RM1 billion to RM2 billion) of the inaugural Malaysia Board Diversity Study & Index, conducted by the Institute of Corporate Directors Malaysia in collaboration with Wills Towers Watson (April).
  • Taliworks received Letters of Award from Pengurusan Air Selangor Sdn Bhd for the proposed development of Sg. Rasau water supply scheme (Stage 1), Selangor Darul Ehsan (a) Package 2 – Design and Build of Proposed Rasau Treated Water Pumping Station, Treated Water Pumping Mains to existing Bukit Lipat Kajang Reservoirs, Distribution and Associated Works at a contract sum of RM602.4 million and (b) Package 3 – Design and Build of Proposed New Bukit Lipat Kajang Booster Station, Reservoirs and Associated Works at a contract sum of RM293.9 million (December).

  • Taliworks successfully acquired the majority economic interest in four (4) brownfield solar projects within the vicinity of the Kuala Lumpur International Airport with an aggregate capacity of 19-megawatt peak and 100% equity in TerraForm Global Operating (Malaysia) Sdn. Bhd. (now known as Taliworks Renewables Operations Sdn. Bhd.), an operations and maintenance services provider of the solar projects (April).
  • Taliworks completed the acquisition of the remaining minority stake in the four (4) brownfield solar projects (June).
  • Taliworks was ranked no. 86 out of the Top 100 Malaysian PLCs for Corporate Governance Disclosure 2021 by the Minority Shareholder Watchdog Group (November).

  • Sungai Harmoni exchanged a signed collaboration agreement with Universiti Selangor (“UNISEL”) to explore opportunities in water supply including management of water treatment plant residuals through UNISEL’s Faculty of Engineering and Life Sciences (October).
  • SWM Environment Sdn. Bhd. was awarded SME100 Awards 2023 – Malaysia Fast Moving Companies.