Sunnier outlook seen for Cypark in FY2022 | Free Malaysia Today – Free Malaysia Today

KUALA LUMPUR: Cypark Resources Bhd is likely to see its financial outlook strengthen with the completion of its energy-generation projects this year, according to a research house.
Maybank Investment Bank (Maybank IB) noted that the company’s solar photovoltaic projects, namely the 50mw large scale solar (LSS2) project in Danau Tok Uban in Kelantan and the 100mw LSS3 in Terengganu, are expected to be completed by September and December respectively.
It said the company’s balance sheet is expected to improve once the two projects as well as its waste-to-energy (WTE) project are commissioned and cash flow generation begins although its rapid expansion into renewable energy over the last few years has weakened its financials.
Maybank IB has maintained its “buy” call on the company’s shares. It has also revised the target price to RM1.01 taking into account new estimated commissioning time frame for its three projects.
Cypark Resources has been one of the most active counters on Bursa Malaysia since last Monday.
At the midday break today, the stock rose by a sen, or 2.35%, to 43.5 sen, with 17.9 million shares traded.
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