Tex Cycle Technology (M) Berhad (“Tex Cycle” or the “Group”), an established waste management and recycling solutions provider, announced its financial results for the second quarter ended 30 June 2025 (“Q2 FY2025”), recording a Profit Before Tax (“PBT”) of RM3.4 million, a 21% increase compared to RM2.8 million in the corresponding quarter last year.
Revenue rose by 5% year-on-year to RM8.6 million from RM8.3 million previously, supported by contributions across its trading and renewable energy divisions.
The quarter’s performance was driven by a fair value gain and dividend income from the Group’s investments in quoted securities, contributing to stronger bottom-line results.
Despite a 24% year-on-year decline in revenue from the recycling segment due to lower sales demand, this was partially offset by an encouraging RM1.3 million rise in trading revenue and a RM0.6 million increase in renewable energy revenue, stemming from higher solar output under Feed-in-Tariff (“FiT”) and Corporate Renewable Energy Power Purchase Agreement (“CREPPA”) projects.
On a cumulative basis, for the six-month period ended 30 June 2025, Tex Cycle posted revenue of RM17.5 million, a 8% increase from RM16.3 million recorded in the same period last year. PBT stood at RM6.0 million compared to RM10.2 million a year ago, which had included a one-off investment disposal gain of RM15.0 million in 2024.
Excluding that, the Group’s normalised PBT this year reflects improved operational consistency and well-managed expenses across the board.
Mr. Gary Dass A/L Anthony Francis, Group Chief Executive Officer of Tex Cycle commented,
“We are pleased with our resilient performance for the first half of the year, which reflects the strength of our core operations and disciplined investment strategies. With the successful completion of the Meridian World acquisition, Tex Cycle is now expanding into the e-waste segment, a fast-growing and highly specialised area within the scheduled waste management sector.
Meridian World’s established track record of approximately 30 years and strong expertise in specialised waste streams, including chemical waste and niche waste codes such as e-waste, positions us better to capture this market and strengthen our presence across industries.”
He added, “In addition, on 29 July 2025, our Tex Cycle (P2) Sdn Bhd’s 2MW biomass gasification power plant successfully completed the Initial Operation Date (IOD) test with TNB and is now undergoing the Power Quality (PQ) measurement test.
The Acceptance Test/Performance Assessment (ATPA) under SEDA’s requirements will follow, paving the way for the issuance of the Feed-in Tariff Commencement Date (FiTCD). With these strategic developments, we are confident of further strengthening our capabilities, enhancing sustainable income streams, and unlocking greater value for our stakeholder.”
With the recent completion of the acquisition of Meridian World Sdn Bhd in August 2025, Tex Cycle has taken a significant step forward in diversifying into chemical processing of waste, wastewater treatment, and the trading of industrial chemicals. The acquisition complements the Group’s ESG-focused agenda and will broaden its addressable market within the environmental solutions space.
As at 5:00 P.M., 12 August 2025, the share price of Tex Cycle closed at RM1.110, representing a market capitalisation of RM312.1 million.
For more information, visit https://www.texcycle.com.my/
