FOURTH QUARTERLY REPORT
Quarterly report on consolidated results for the financial year ended 31 December 2025. The figures have not been audited.
CONDENSED CONSOLIDATED INCOME STATEMENT FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025
INDIVIDUAL QUARTER
Fourth quarter ended
31 DecemberCUMULATIVE PERIOD
Financial year ended
31 December2025 RM'000 | 2024 RM'000 | 2025 RM'000 | 2024 RM'000 | ||
Revenue | 3,012,802 | 2,728,315 | 11,884,319 | 10,911,824 | |
Cost of sales | (2,213,120) | (2,238,169) | (8,627,721) | (8,361,584) | |
Gross profit | 799,682 | 490,146 | 3,256,598 | 2,550,240 | |
Other income | 266,959 | 101,169 | 652,550 | 479,734 | |
Other expenses | (767,312) | (378,035) | (2,191,326) | (1,694,152) | |
Other gains/(losses) - net | 105,667 | (356,070) | 344,704 | 109,374 | |
Profit/(loss) from operations before impairment losses | 404,996 | (142,790) | 2,062,526 | 1,445,196 | |
Impairment losses | (135,198) | - | (137,896) | (35,081) | |
Profit/(loss ) from operations | 269,798 | (142,790) | 1,924,630 | 1,410,115 | |
Finance costs | (228,093) | (164,590) | (828,242) | (690,969) | |
Share of results in associates | (599) | (61,880) | (109,022) | (229,195) | |
Share of results in a joint venture | (138) | 1,117 | (2,281) | (3,234) | |
Profit/(loss ) before taxation | 40,968 | (368,143) | 985,085 | 486,717 | |
Taxation | 82,241 | (117,409) | (314,220) | (324,568) | |
Profit/(loss ) for the financial period/year | 123,209 | (485,552) | 670,865 | 162,149 | |
Profit/(loss ) attributable to: | |||||
Equity holders of the Company | 145,900 | (457,902) | 754,915 | 251,278 | |
Non-controlling interests | (22,691) | (27,650) | (84,050) | (89,129) | |
123,209 | (485,552) | 670,865 | 162,149 | ||
Earnings /(loss ) per share (sen) for profit attributable to equity holders of the Company: | |||||
- Basic | 2.57 | (8.08) | 13.32 | 4.43 | |
- Diluted | 2.57 | (8.08) | 13.32 | 4.43 |
(The Condensed Consolidated Income Statement should be read in conjunction with the audited Financial Statements for the financial year ended 31 December 2024.)
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025
INDIVIDUAL QUARTER
Fourth quarter ended
31 DecemberCUMULATIVE PERIOD
Financial year ended
31 December2025 2024 2025 2024
RM'000 RM'000 RM'000 RM'000
Profit/(loss ) for the financial period/year 123,209 (485,552) 670,865 162,149
Other comprehensive (loss)/income Items that will not be reclassified
subsequently to profit or loss:
Actuarial (loss)/gain on retirement benefit
liability (1,630) 3,508 (1,630) 3,508
Changes in the fair value of equity instruments at fair value through
other comprehensive income - | 4,331 | - | 1,368 | ||
(1,630) | 7,839 | (1,630) | 4,876 | ||
Items that may be reclass ified subsequently to profit or loss: Cash flow hedges 1,167 | (3,364) | 11,612 | (3,364) | ||
Foreign currency exchange differences | |||||
Net foreign currency exchange differences on translation of foreign operations | (306,114) | 614,479 | (716,145) | (286,586) | |
Reclassification to profit or loss upon remeasurement of previously held interest in associates to fair value | - | - | (23,311) | - | |
(306,114) | 614,479 | (739,456) | (286,586) | ||
(304,947) | 611,115 | (727,844) | (289,950) | ||
Other comprehensive (loss)/income, | |||||
net of tax | (306,577) | 618,954 | (729,474) | (285,074) | |
Total comprehensive (los s)/income for | |||||
the financial period/year | (183,368) | 133,402 | (58,609) | (122,925) | |
Total comprehensive (los s)/income attributable to:
Equity holders of the Company | (192,348) | 228,698 | (60,666) | (56,150) | |
Non-controlling interests | 8,980 | (95,296) | 2,057 | (66,775) | |
(183,368) | 133,402 | (58,609) | (122,925) |
(The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the audited Financial Statements for the financial year ended 31 December 2024.)
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025 | |||
As at | As at | ||
31.12.2025 RM'000 | 31.12.2024 RM'000 | ||
ASSETS Non-current assets Property, plant and equipment | 16,337,854 | 13,779,210 | |
Land held for property development | 178,229 | 178,229 | |
Investment properties | 2,061,427 | 2,263,531 | |
Intangible assets | 4,430,697 | 3,999,802 | |
Right-of-use assets | 1,302,105 | 924,002 | |
Associates | 10,273 | 2,113,198 | |
Joint venture | 36,172 | 38,453 | |
Financial assets at fair value through other comprehensive income | 64,375 | 70,784 | |
Financial assets at fair value through profit or loss | - | 408,096 | |
Amounts due from associates | - | 54,696 | |
Other non-current assets | 197,977 | 390,596 | |
Deferred tax assets | 42,637 | 42,311 | |
24,661,746 | 24,262,908 | ||
Current assets | |||
Inventories | 193,616 | 186,786 | |
Trade and other receivables | 648,138 | 551,476 | |
Amount due from holding company | 485 | 658 | |
Amounts due from related companies | 1,259 | 1,101 | |
Financial assets at fair value through profit or loss | 1,030,830 | - | |
Restricted cash | 27,265 | 10,032 | |
Cash and cash equivalents | 2,847,223 | 3,536,631 | |
4,748,816 | 4,286,684 | ||
Assets classified as held for sale | 114,310 | 17,808 | |
4,863,126 | 4,304,492 | ||
TOTAL ASSETS | 29,524,872 | 28,567,400 | |
EQUITY AND LIABILITIES Equity attributable to equity holders of the Company Share capital | 1,764,424 | 1,764,424 | |
Reserves | 10,805,020 | 11,092,396 | |
Treasury shares | (935,660) | (935,660) | |
11,633,784 | 11,921,160 | ||
Non-controlling interests | (880,078) | (882,135) | |
TOTAL EQUITY | 10,753,706 | 11,039,025 | |
Non-current liabilities Other long-term liabilities | 285,968 | 237,667 | |
Long term borrowings | 11,288,320 | 11,938,376 | |
Lease liabilities | 1,362,821 | 1,025,054 | |
Deferred tax liabilities | 1,058,363 | 981,043 | |
Derivative financial instruments | 53,239 | 3,960 | |
14,048,711 | 14,186,100 | ||
Current liabilities Trade and other payables | 3,151,567 | 2,925,799 | |
Amount due to holding company | 9,920 | 15,534 | |
Amounts due to related companies | 1,984 | 2,479 | |
Amounts due to associates | - | 505 | |
Short term borrowings | 1,427,697 | 282,428 | |
Lease liabilities | 86,473 | 72,762 | |
Taxation | 44,814 | 42,768 | |
4,722,455 | 3,342,275 | ||
TOTAL LIABILITIES | 18,771,166 | 17,528,375 | |
TOTAL EQUITY AND LIABILITIES | 29,524,872 | 28,567,400 | |
NET ASSETS PER SHARE (RM) | 2.05 | 2.10 | |
(The Condensed Consolidated Statement of Financial Position should be read in conjunction with the audited Financial Statements for the financial year ended 31 December 2024.)
Share Capital | Fair Value Reserve | Cash Flow Hedge Reserve | Other Reserves | Treasury Shares | Retained Earnings | Total | Non- controlling Interests | Total Equity | |
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | |
At 1 January 2025 | 1,764,424 | (82,530) | (3,364) | 2,157,071 | (935,660) | 9,021,219 | 11,921,160 | (882,135) | 11,039,025 |
Profit/(loss) for the financial year | - | - | - | - | - | 754,915 | 754,915 | (84,050) | 670,865 |
Other comprehensive income/(los s) | - | - | 11,612 | (825,563) | - | (1,630) | (815,581) | 86,107 | (729,474) |
Total comprehensive income/(los s) for the financial year | - | - | 11,612 | (825,563) | - | 753,285 | (60,666) | 2,057 | (58,609) |
Transactions with owners: | |||||||||
Appropriation: | |||||||||
Final s ingle-tier dividend declared for the financial year ended 31 December 2024 | - | - | - | - | - | (226,710) | (226,710) | - | (226,710) |
Total transactions with owners | - | - | - | - | - | (226,710) | (226,710) | - | (226,710) |
At 31 December 2025 | 1,764,424 | (82,530) | 8,248 | 1,331,508 | (935,660) | 9,547,794 | 11,633,784 | (880,078) | 10,753,706 |
(The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the audited Financial Statements for the financial year ended 31 December 2024.)
Share Capital | Fair Value Reserve | Cash Flow Hedge Reserve | Other Reserves | Treasury Shares | Retained Earnings | Total | Non-controlling Interests | Total Equity | |
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | |
At 1 January 2024 1,764,424 | (83,898) | - | 2,466,011 | (935,660) | 9,616,594 | 12,827,471 | (815,360) | 12,012,111 | |
Profit/(loss) for the financial year - | - | - | - | - | 251,278 | 251,278 | (89,129) | 162,149 | |
Other comprehensive income/(loss) - | 1,368 | (3,364) | (308,940) | - | 3,508 | (307,428) | 22,354 | (285,074) | |
Total comprehensive income/(loss) for the financial year - | 1,368 | (3,364) | (308,940) | - | 254,786 | (56,150) | (66,775) | (122,925) | |
Transactions with owners: | |||||||||
Appropriation: Final single-tier dividend declared for the financial year ended 31 December 2023 Interim single-tier dividend declared for the financial | - - - - - (510,097) (510,097) - (510,097) | ||||||||
year ended 31 December 2024 | - | - | - | - | - | (340,064) | (340,064) | - | (340,064) |
Total transactions with owners | - | - | - | - | - | (850,161) | (850,161) | - | (850,161) |
At 31 December 2024 | 1,764,424 | (82,530) | (3,364) | 2,157,071 | (935,660) | 9,021,219 | 11,921,160 | (882,135) | 11,039,025 |
for the financial year ended 31 December 2024.)