KUALA LUMPUR (March 19): Renewable energy group Cypark Resources Bhd (KL:CYPARK) reported a net loss in its third quarter, mainly due to the absence of a reversal of provisions and settlement income recorded in the same quarter a year ago.
Net loss for the third quarter ended Jan 31, 2026 (3QFY2026) was RM17 million compared to a net profit of RM8.76 million a year ago, according to a bourse filing on Thursday.
This is the group's third consecutive quarter in the red. In 3QFY2025, Cypark's earnings were lifted by a RM13.3 million settlement with the main contractor for its waste-to-energy (WTE) plant, as well as RM30.09 million in reversal of provision and impairment.
On a year-on-year basis, the decline was partially cushioned by stronger electricity sales and higher tipping income from the WTE segment following the implementation of revised rates and increased waste processing volumes, the group noted.
Meanwhile, revenue increased nearly 9% to RM43.2 million in the quarter, from RM39.7 million previously. No dividend was declared for the quarter under review.
Moving forward, Cypark said its large scale solar 5 plus (LSS5+) project is entering its execution phase, while its SMART WTE Phase 2 expansion is advancing following the group’s agreement with the Malaysian government.
The group's solar, WTE and biogas assets are now "stabilised", it said.
"With 400 megawatt of capacity installed, Cypark is committed to transforming energy responsibly and advancing Malaysia’s sustainable development goals,’’ it added.
Cypark added that its RM4.2 billion tender book in large-scale solar, hybrid solar-and-battery systems, WTE and environmental infrastructure opportunities are progressively being converted into its order book over the next 18 to 24 months.
For the nine months ended Jan 31, 2026 (9MFY2026), Cypark’s net loss rose sevenfold to RM51.12 million from RM7.04 million a year earlier, while revenue dropped 5.51% to RM131.01 million from RM138.71 million.
Shares in Cypark slippped half a sen or 0.72% to 68.5 sen on Thursday, giving the group a market capitalisation of RM563.6 million.