KUALA LUMPUR: Pengurusan Air Selangor Sdn Bhd (Air Selangor) reported a total revenue of RM2.82 billion, marking a 15.1 per cent increase from the RM2.45 billion recorded the previous year.
Air Selangor attributed this growth to various operational income sources.
In its 2023 sustainability report, the company noted that it had incurred capital expenditures (capex) of RM560 million, compared to RM2.68 billion in the year before that.
The majority of the 2022 expenditure, amounting to RM1.97 billion, was allocated to the Rasau Water Supply Scheme Stage 1 project, the company said.
"After adjustment for 2023, there was an 18.8 per cent increase in capex compared to RM467.99 million in 2022 (excluding Rasau)," it added.
As of Dec 31, 2023, Air Selangor had issued six Sustainability Sukuk, totaling RM3.13 billion since the first issuance on October 29, 2021.
"These Sustainability Sukuk are allocated for water supply projects, sustainable water management, and renewable energy initiatives.
"This includes the development of new water treatment facilities, maintenance of existing facilities, pipe replacement programmes, and the Renewable Energy for Water (RENEW) project," it added.
The company also reported notable achievements in its 2023 sustainability initiatives, including a significant increase in the water reserve margin to 15.34 percent from 12.02 percent in 2022.
This improvement was due to an additional supply of 275 million litres per day (MLD) from Langat 2 Western Corridor starting on Aug 27, 2023, and an increased distributable capacity of 250 MLD from the Sg Rasa Water Treatment Plant beginning in November 2023.
The water reserve margin is expected to further rise to 17.7 per cent by 2030.
"These successes demonstrate Air Selangor's commitment to ensuring efficiency and effectiveness in every endeavour, integrating sustainable operational initiatives alongside strong governance, ethical business practices, and sustainable financing," Air Selangor said.