Taliworks Corporation

What Taliworks Corporation does

Taliworks Corporation Berhad is a Malaysian B2G (business-to-government) infrastructure company listed on the Bursa Malaysia Main Market (TALIWRK, 8524) under the Utilities sector. It traces its origins to a 2000 reverse takeover of Carpets International Malaysia Berhad, in which the LGB Group injected water treatment assets and the platform was renamed Taliworks. Headquartered at Level 19, Menara LGB, 1 Jalan Wan Kadir, Kuala Lumpur, Taliworks operates five distinct business segments: water treatment and supply via Sungai Harmoni Sdn. Bhd. (which runs the Sungai Selangor Phase 1 plant, 950 MLD, supplying ~20% of Klang Valley/Selangor treated water under a Bulk Water Supply Agreement with Air Selangor extended to December 2036); highway toll operations via Grand Saga Sdn. Bhd. (Cheras-Kajang Highway, 11.5 km, concession to September 2045) and Grand Sepadu (NK) Sdn. Bhd. (New North Klang Straits Bypass Expressway, 17.5 km, concession to December 2032), each via EPF-aligned joint ventures; engineering and construction through Taliworks Construction Sdn. Bhd. (a CIDB Grade G7, ISO 9001-certified contractor active in water supply schemes and dams); waste management via a 35% associate stake in SWM Environment Holdings Sdn. Bhd., whose concession-owning subsidiary SWM Environment Sdn. Bhd. serves 26 local authorities across Johor, Negeri Sembilan, and Melaka (~28,500 sq km, 5 million+ population, ~5,200 tonnes/day, ~1.8 million tonnes for FY2025); and renewable energy via four wholly owned brownfield solar project companies (TR Sepang, TR SaTerm, TR CPark) totalling 19 MWp under the SEDA FIT programme, with operations managed by Taliworks Renewables Operations Sdn. Bhd. (acquired June 2022).

Taliworks makes money almost exclusively from long-dated Malaysian government concession agreements, service contracts, and design-and-build tenders. Pricing is not publicly disclosed; construction contracts are tendered at fixed sums (e.g., RM896M Sungai Rasau, RM273M Mengkuang Dam, RM265M Grand Sepadu acquisition) and recurring streams come from bulk water supply tariffs (Air Selangor), highway toll collection, FIT-regulated electricity sales (SEDA), waste management service fees from 26 local authorities, and EPF-aligned joint-venture economics in highways and waste. Customer concentration is structurally High by design: revenue is entirely counterparty to Malaysian federal ministries, state governments, the state water utility Air Selangor, municipal authorities, SEDA, and the regulator SPAN, with employees totalling over 9,387 in the waste segment plus additional cleansing and collection workforces and a presence across Kuala Lumpur, Selangor, Johor, Negeri Sembilan, Melaka, Kedah (historical), Sepang, and Langkawi (historical). The model effectively monetises regulatory concessions, with reported certifications spanning ISO 9001/14001/17025/27001 and recognitions including MSWG Top 100 Malaysian PLCs and 2025 ESG and IKM Laboratory Excellence awards.

Name

Taliworks Corporation

Legal name

Taliworks Corporation Berhad

Website

https://taliworks.com.my

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Taliworks Corporation Berhad is a Malaysian B2G infrastructure company listed on Bursa Malaysia (TALIWRK, 8524) operating five segments — water treatment, highway toll operations, engineering and construction, waste management, and renewable energy — under long-dated government concessions serving federal ministries, state governments, Air Selangor, 26 local authorities, and SEDA across Malaysia.

Ownership category

akta.pro rank

Product category

Infrastructure Services

NAICS

Sewage Treatment Facilities (22132), Other Nonhazardous Waste Treatment and Disposal (562219), Utility System Construction (2371)

SIC

Water Supply (4941), Hazardous Waste Management (4955)

akta.pro primary industry

Monitoring & Control (Dosing Systems, Remote Monitoring, Sensors) (BPABAJAK)

akta.pro secondary industries

Hazardous Waste Handling, Transport & Disposal (RCRA/TSDF) (IMAIAGAC), Subtitle: Waste Treatment & Disposal — Sub-industries (L4) (EUAIACAA), Project & Construction Management (EPCM, Owner’s Engineer, Scheduling/Controls) (IMAKAOAG)

Keywords

• Water treatment operations
• Highway toll concessions
• Waste management services
• Engineering construction services
• Solar renewable energy

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Water Treatment and Supply: Revenue is generated from operations and maintenance contracts for water treatment plants. Sungai Harmoni operates the Sungai Selangor Phase 1 plant (950 MLD capacity, ~20% of Klang Valley treated water requirement) under a Bulk Water Supply Agreement with Air Selangor, extended to December 2036. Previously, Taliworks Langkawi operated the Langkawi water supply concession (25-year contract, 1995–2020, now concluded).
2. Highway Toll Operations: Revenue is generated from toll collections on two highways: the Grand Saga Highway (Cheras-Kajang, 11.5 km, concession until September 2045) and the Grand Sepadu Highway (New North Klang Straits Bypass Expressway, 17.5 km, concession until December 2032). Both are operated through joint venture companies with EPF participation.
3. Engineering and Construction: Revenue from infrastructure construction contracts, primarily in water supply schemes. Key projects include: Projek Bekalan Air Kedah Tengah (RM120 million, 2002), Padang Terap Water Supply Project (RM149 million, 2006), Mengkuang Dam Expansion Project (RM273 million, 2011–2017), and the Sungai Rasau Water Treatment Plant project packages (total RM896 million, awarded December 2021).
4. Waste Management Services: Revenue is generated through SWM Environment Holdings Sdn. Bhd. (35% associate) for solid waste collection and public cleansing management in the southern states of Peninsular Malaysia. Services include domestic waste collection, garden/bulky/recyclables collection, street sweeping, drain cleaning, and the KITARecycle programme. Approximately 1.8 million tonnes of waste collected for FY2025.
5. Renewable Energy (Solar): Revenue from sale of electricity generated from four brownfield solar photovoltaic plants (total 19 MWp capacity) operating under the Feed-in Tariff (FIT) programme administered by SEDA. Taliworks consolidated renewable energy segment revenue from Q2 2022 following completion of the acquisition in June 2022.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Taliworks is an established Malaysian infrastructure company operating across five distinct business sectors: (1) Water Treatment and Supply — operating and maintaining the Sungai Selangor Phase 1 water treatment plant (950 MLD capacity) supplying potable water to Selangor and Kuala Lumpur; (2) Highway Toll Operations — operating the Grand Saga Highway (11.5 km, Cheras-Kajang) and Grand Sepadu Highway (17.5 km, North Klang Straits Bypass); (3) Engineering and Construction — Grade G7 CIDB-registered contractor for water supply schemes and civil infrastructure; (4) Waste Management — solid waste collection and public cleansing for 26 local authorities in Johor, Melaka, and Negeri Sembilan via SWM Environment Holdings; and (5) Renewable Energy — four brownfield solar projects (19 MWp aggregate capacity) operating under the Feed-in Tariff programme near KLIA.

Product overview

Taliworks Corporation Berhad is an established infrastructure company operating across five distinct business sectors. The portfolio comprises: (1) Water Treatment and Supply through Sungai Harmoni Sdn. Bhd. operating the Sungai Selangor Water Treatment Plant Phase 1; (2) Highway Toll Operations via Grand Saga Sdn. Bhd. (Cheras-Kajang Highway) and Grand Sepadu (NK) Sdn. Bhd. (New North Klang Straits Bypass Expressway); (3) Engineering and Construction through Taliworks Construction Sdn. Bhd.; (4) Waste Management via 35% equity interest in SWM Environment Holdings Sdn. Bhd. with its KITARecycle mobile application for recycling rewards; and (5) Renewable Energy through four brownfield solar projects (TR Sepang, TR SaTerm, TR CPark) totaling 19 MWp with operations managed by Taliworks Renewables Operations Sdn. Bhd.

Differentiator

Problem solved

Functional benefit

Brands

• KITARecycle: Mobile application introduced by SWM Environment for recyclable items collection with reward programme (accumulated recycling points can be redeemed for cash).
• Grand Saga Highway
• Grand Sepadu Highway

Products and services

• Sungai Selangor Phase 1 (SSP1) Water Treatment Plant Operations and Maintenance

Quantifiable outcome

• ~20% of total treated water requirement of Klang Valley and Selangor supplied by Taliworks-operated SSP1 plant (950 MLD capacity)
• +5 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Pengurusan Air Selangor Sdn. Bhd. (Air Selangor)coreStrategic or Co-development PartnerAir Selangor is the state water utility of Selangor. In 2019, Sungai Harmoni Sdn. Bhd. (Taliworks' subsidiary) entered into a Bulk Water Supply Agreement with Air Selangor, extending its SSP1 O&M contract for an additional 7 years to December 2036. Air Selangor recommended the award of an Individual License to Sungai Harmoni under the Water Services Industry Act 2006. This partnership followed a water restructuring exercise to consolidate the water industry in Selangor.
• Sustainable Energy Development Authority (SEDA)coreStrategic or Co-development PartnerSEDA is a statutory body formed under the Sustainable Energy Development Authority Act 2011 that administers Malaysia's Feed-in Tariff (FIT) programme. Taliworks' four brownfield solar projects (TR Sepang, TR SaTerm, TR CPark) operate under the FIT programme administered by SEDA, which guarantees grid access and favourable tariff rates to promote renewable energy development.
• Taliworks Renewables Operations Sdn. Bhd.coreStrategic or Co-development PartnerFormerly TerraForm Global Operating (Malaysia) Sdn. Bhd., this wholly owned subsidiary of Taliworks provides end-to-end operations and maintenance services to the four brownfield solar assets (TR Sepang, TR SaTerm, TR CPark) with aggregate capacity of 19 MWp near KLIA. The in-house O&M capability was acquired in April 2022 as part of Taliworks' maiden foray into renewable energy.
• Universiti Selangor (UNISEL)minorStrategic or Co-development PartnerIn October 2023, Sungai Harmoni exchanged a signed Collaboration Agreement with Universiti Selangor to explore opportunities in water supply including management of water treatment plant residuals through UNISEL's Faculty of Engineering and Life Sciences.
• Universiti Teknologi MARA (UiTM)minorStrategic or Co-development PartnerIn August 2024, Sungai Harmoni signed a Collaboration Agreement with Universiti Teknologi MARA to jointly drive innovative research in water treatment plant operations and sustainable management of water residuals.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Gamuda Berhad: Malaysian engineering and infrastructure group operating the Sungai Selangor Phase 2 water treatment plant and Gamuda Water, alongside major highway concessions and construction. Directly comparable to Taliworks given shared exposure to Malaysian water, highway, and construction segments.
• Cypark Resources Berhad: Malaysian environmental services and renewable energy specialist operating waste-to-energy, MSW management, and solar PV. Directly comparable through Malaysian waste and solar segments with prior FIT programme exposure.
• IJM Corporation Berhad: Malaysian construction and infrastructure conglomerate with property, plantation, and industry divisions alongside toll roads and large-scale construction. Comparable diversified infrastructure exposure overlapping with Taliworks' portfolio breadth.
• UEM Edgenta Berhad: Malaysian infrastructure services group providing highway O&M, facility management, and hospital support services. Closely comparable to Taliworks' highway and waste management operational segments.

Broad incumbents

• Sunway Berhad: Malaysian conglomerate spanning construction, property, healthcare, and hospitality with Sunway Construction handling infrastructure projects. Partial overlap with Taliworks' construction and infrastructure footprint; not specialised in water utilities.
• YTL Corporation Berhad: Large Malaysian utilities and infrastructure conglomerate with water (including Power International water operations), power generation, fibre, and construction businesses. Broader multi-utility operator that overlaps with Taliworks' diversification but at significantly larger scale.
• Pengurusan Aset Air Berhad (PAAB): Federal government-owned holding company for water treatment assets in Malaysia. Counterparty/peer interface for Malaysian water concessions and comparable asset-holding structure for water-sector infrastructure.
• MRCB (Malaysian Resources Corporation Berhad): Malaysian infrastructure and property group with highway toll operations and large urban transit projects. Comparable for diversified infrastructure exposure in Malaysia; less water-utility focused.

Emerging players

• China Water Affairs Group Limited: Hong Kong-listed water and environmental services holding group with city-level water concessions across China and Southeast Asia. Comparable concession-based utility model focused on water; relevant given Taliworks' prior (now-exited) China water footprint.

Regional players

• SAJ Holdings Sdn Bhd: State-owned water utility operator in Johor, providing comparable essential-service water utility operations in an adjacent Peninsular Malaysian geography. Directly comparable service mandate though geographically adjacent rather than overlapping.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Taliworks Corporation