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BURSA ANNOUNCEMENTS

Date : 25 September 2014

OTHERS TALIWORKS CORPORATION BERHAD ("TCB" or "the Company") - DIVIDEND POLICY

TALIWORKS CORPORATION BERHAD

TypeAnnouncement
SubjectOTHERS
DescriptionTALIWORKS CORPORATION BERHAD ("TCB" or "the Company")
- DIVIDEND POLICY

 

The Board of Directors of the Company is pleased to announce that it has approved a dividend payout ratio of not less than 75% of its consolidated profit after tax (excluding exceptional items) for the financial year ending 31 December 2015 onwards as a Dividend Policy for the Company. However, such payments will depend upon a number of factors, including amongst others, the earnings, capital commitments, general financial conditions, distributable reserves and other factors to be considered by the Board.

The Group is primarily involved in the treatment, supply and distribution of treated water, toll roads (collectively referred to as “Infrastructure Assets”), management and operation of waste management and construction. Other than the construction segment, all the other businesses of the Group are concession-based.

The existing Infrastructure Assets are mature and under normal circumstances require minimal sustaining capital expenditure and therefore, the Board is proposing to pay as dividends cash generated from these business segments.

However, the Board also notes that currently Sungai Harmoni Sdn Bhd, a main subsidiary which manages and operates the Sungai Selangor Water Treatment Works Phase 1 (“SSP1”) that supplies to large parts of Selangor and Kuala Lumpur, only receives partial payment from its principal pending the final resolution of the on-going water consolidation exercise in Selangor as highlighted in the Company’s Interim Financial Reports and this may impede the ability of the Board to declare, recommend or pay at the above dividend payout ratio.

A copy of the Dividend Policy is attached hereto for reference.

This announcement is dated 25 September 2014.

 

 

 

 

 

 

 

Attachments

TCB- Dividend Policy 2015.pdf
221 KB



Announcement Info

Company NameTALIWORKS CORPORATION BERHAD  
Stock Name TALIWRK    
Date Announced25 Sept 2014  
CategoryGeneral Announcement
Reference NoCK-140923-57987

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