Taliworks Corp ... July 09

Taliworks Corporation Bhd has completed the due diligence on the proposed RM225 million hazardous waste management project in Indonesia. The company was now awaiting the Indonesian provincial government’s decision on the project.

The opportunities for hazardous waste management are there. Indonesia’s economy is growing.

The project would be undertaken on a joint-venture basis with an Indonesian partner, adding that Taliworks should be able to provide an update of the project by the fourth quarter of this year or early 2010.

Aside from Indonesia, Taliworks had also ventured into China’s waste management industry. It had already started its due diligence on the proposed project in China, but declined to provide the site for the project. If successful, the project could be worth an estimated RM600 million.

Taliworks is also hoping to participate in the RM6 billion Pahang-Selangor inter-state raw water transfer project.

For the financial year ended Dec 31, 2008, water management projects contributed RM135.9 million in revenue, construction projects RM77 million and waste management projects RM13.5 million.