Quarterly Report Q1 FY 2025

Page No.

Condensed Consolidated Income Statement

1

Condensed Consolidated Statement of Comprehensive Income

2

Condensed Consolidated Statement of Financial Position

3 - 4

Condensed Consolidated Statement of Changes in Equity

5 - 6

Condensed Consolidated Statement of Cash Flows

7

- 9

Notes to the Interim Financial Report

10

- 28

Individual Quarter

Cumulative Quarter

Current Preceding Year

Year Corresponding

Quarter

Quarter

3 Months Ended

30.09.2024

30.09.2023

30.09.2024

30.09.2023

RM'000

RM'000

RM'000

RM'000

Revenue

7,773,934

7,521,040

7,773,934

7,521,040

Cost of sales

(5,534,118)

(5,192,351)

(5,534,118)

(5,192,351)

Gross profit

2,239,816

2,328,689

2,239,816

2,328,689

Other operating income

123,961

128,173

123,961

128,173

Other operating expenses

(1,016,695)

(663,768)

(1,016,695)

(663,768)

Profit from operations

1,347,082

1,793,094

1,347,082

1,793,094

Finance costs

(601,161)

(690,979)

(601,161)

(690,979)

Share of results of associates

and joint ventures

153,276

112,170

153,276

112,170

Profit before taxation

899,197

1,214,285

899,197

1,214,285

Taxation

(249,173)

(274,133)

(249,173)

(274,133)

Profit for the period

650,024

940,152

650,024

940,152

Attributable to:-

Owners of the parent

333,713

521,726

333,713

521,726

Non-controlling interests

316,311

418,426

316,311

418,426

Profit for the period

650,024

940,152

650,024

940,152

Earnings per share

Basic (Sen)

3.03

4.76

3.03

4.76

Diluted (Sen)

2.97

4.68

2.97

4.68

Individual Quarter

Cumulative Quarter

Current

Preceding Year

Year

Corresponding

Quarter

Quarter

3 Months Ended

30.09.2024

30.09.2023

30.09.2024

30.09.2023

RM'000

RM'000

RM'000

RM'000

Profit for the period

650,024

940,152

650,024

940,152

subsequently to income statement:-

- financial assets at fair value through

other comprehensive income

36,108

123

36,108

123

Items that may be reclassified

subsequently to income statement:-

- cash flow hedges

(335,875)

333,923

(335,875)

333,923

- revaluation reserves

6,236

-

6,236

-

- share of other comprehensive

income/(loss) of associate

146,535

(6,131)

146,535

(6,131)

- foreign currency translation

(1,991,670)

(284,274)

(1,991,670)

(284,274)

Other comprehensive (loss)/income

for the period, net of tax

(2,138,666)

43,641

(2,138,666)

43,641

Total comprehensive (loss)/

income for the period

(1,488,642)

983,793

(1,488,642)

983,793

Attributable to :-

Owners of the parent

(853,798)

535,605

(853,798)

535,605

Non-controlling interests

(634,844)

448,188

(634,844)

448,188

Total comprehensive (loss)/

income for the period

(1,488,642)

983,793

(1,488,642)

983,793

Unaudited

Audited

As at

As at

30.09.2024

30.06.2024

ASSETS

RM'000

RM'000

Non-current Assets

Property, plant and equipment

36,527,150

37,816,881

Right-of-use assets

2,076,954

2,135,525

Investment properties

2,253,849

2,233,455

Service concession assets

937,594

881,894

Investment in associates and joint ventures

4,599,288

4,727,418

Investments

492,621

525,493

Inventories

798,047

796,145

Intangible assets

9,174,870

9,934,119

Operating financial assets

579,559

404,484

Post-employment benefit assets

27,532

31,124

Deferred tax assets

375,704

338,369

Trade, other receivables and contract assets

2,931,360

3,255,049

Derivative financial instruments

10

16,353

60,774,538

63,096,309

Current Assets

Inventories

1,299,018

1,301,207

Property development costs

710,361

692,508

Trade, other receivables and contract assets

6,659,690

6,960,529

Derivative financial instruments

31,287

122,256

Operating financial assets

46,139

234,730

Income tax assets

121,024

140,511

Investments

2,557,970

1,983,383

Fixed deposits

11,697,680

12,836,846

Cash and bank balances

1,855,661

1,422,355

24,978,830

25,694,325

TOTAL ASSETS

85,753,368

88,790,634

Unaudited

Audited

As at

As at

30.09.2024

30.06.2024

EQUITY AND LIABILITIES

RM'000

RM'000

Share capital

3,498,024

3,491,793

Other reserves

779,364

1,970,015

Retained profits

11,350,783

11,010,763

Less : Treasury shares, at cost

(54,452)

(54,452)

Equity Attributable to Owners of the Parent

15,573,719

16,418,119

Non-controlling interests

7,060,988

7,741,967

Total Equity

22,634,707

24,160,086

Non-current Liabilities

Long term payables and contract liabilities

2,111,874

2,348,355

Bonds & borrowings

39,394,635

40,628,636

Lease liabilities

1,265,282

1,233,511

Grants and contributions

666,457

721,874

Deferred tax liabilities

3,548,366

3,763,739

Post-employment benefit obligations

86,999

90,484

Provision for liabilities and charges

34,793

34,527

Service concession liabilities

550,374

559,198

Derivative financial instruments

49,014

1,198

47,707,794

49,381,522

Current Liabilities

Trade, other payables and contract liabilities

6,739,991

7,253,374

Service concession liabilities

463,516

385,172

Derivative financial instruments

186,881

20,016

Bonds & borrowings

6,567,767

5,993,260

Lease liabilities

667,097

739,506

Income tax liabilities

651,699

725,723

Provision for liabilities and charges

133,916

131,975

15,410,867

15,249,026

TOTAL LIABILITIES

63,118,661

64,630,548

TOTAL EQUITY AND LIABILITIES

85,753,368

88,790,634

Net Assets per share (RM)

1.41

1.49

Attributable to Owners of the Parent

Non-

Share

Retained

Treasury

Other

controlling

Total

capital

profits

shares

reserves

Total

interests

equity

Group

RM'000

RM'000

RM'000

RM'000

RM'000

RM'000

RM'000

At 1 July 2024

3,491,793

11,010,763

(54,452)

1,970,015

16,418,119

7,741,967

24,160,086

Profit for the period

-

333,713

-

-

333,713

316,311

650,024

Other comprehensive loss

-

-

-

(1,187,511)

(1,187,511)

(951,155)

(2,138,666)

Total comprehensive income/(loss)

for the period

-

333,713

-

(1,187,511)

(853,798)

(634,844)

(1,488,642)

Changes in composition of the Group

-

4,875

-

(197)

4,678

18,954

23,632

Dividends paid

-

-

-

-

-

(74,790)

(74,790)

Exercise of share options

6,231

-

-

(2,943)

3,288

9,701

12,989

Share option lapsed

-

1,432

-

-

1,432

-

1,432

At 30 September 2024

3,498,024

11,350,783

(54,452)

779,364

15,573,719

7,060,988

22,634,707

3 Months Ended

30.09.2024

30.09.2023

RM'000

RM'000

Cash flows from operating activities

Profit before tax

899,197

1,214,285

Adjustments for :-

Adjustment on fair value of investment properties

34

(4)

Amortisation of contract costs

682

341

Amortisation of deferred income

(4,839)

(4,445)

Amortisation of grants and contributions

(627)

(1,454)

Amortisation of intangible assets

18,153

17,616

Amortisation of service concession assets

107,923

-

Bad debts written off/(recovered)

4,216

(364)

Depreciation of property, plant and equipment

460,495

457,087

Depreciation of right-of-use assets

57,254

55,507

Dividend income

(1,195)

(1,314)

Fair value changes of financial assets

(600)

3,146

Fair value gain on derivatives

(6,349)

-

Impairment loss

25,567

50,955

Interest expense

601,161

690,979

Interest income

(221,292)

(229,089)

Net gain on disposal of investments

(1,238)

-

Net gain on disposal of property, plant and equipment

(5,541)

(2,917)

Net gain on disposal of associate

-

(11,420)

Property, plant and equipment written off

11,502

2,200

Provision for post-employment benefits

10,397

9,485

Share of results of associates and joint ventures

(153,276)

(112,170)

Share option expenses

53

7,086

Unrealised loss on foreign exchange

289,532

6,050

Other non cash items

8

(260)

Operating profit before changes in working capital

2,091,217

2,151,300

3 Months Ended

30.09.2024

30.09.2023

RM'000

RM'000

Changes in working capital:-

Inventories

(81,863)

(151)

Property development costs

716

(4,920)

Receivables, deposits and prepayments

(227,536)

787,029

Payables and accrued expenses

(49,224)

(980,169)

Related parties balances

13,927

6,553

Cash generated from operations

1,747,237

1,959,642

Dividend received

163,512

166,577

Interest paid

(418,823)

(390,649)

Interest received

216,617

221,300

Payment for service concession liabilities

(107,265)

-

Payment to a retirement benefits scheme

(12,223)

(9,178)

Income tax paid

(265,483)

(41,100)

Net cash from operating activities

1,323,572

1,906,592

Cash flows from investing activities

Acquisition of new subsidiaries (net of cash acquired)

(126,373)

-

Additional investment in associate

(18,929)

(12,702)

Development expenditure incurred

(15,340)

(4,172)

Grants received in respect of infrastructure assets

5,834

6,158

Maturities of income funds

227,623

304,000

Proceeds from disposal of property, plant and equipment

18,363

6,522

Proceeds from disposal of associate

-

25,000

Proceeds from disposal of investments

14,062

1,659

Proceeds from finance lease receivables

736

995

Purchase of intangible assets

(3,002)

(15,390)

Purchase of investment properties

(96,559)

-

Purchase of investments

(860,213)

(499,484)

Purchase of property, plant and equipment

(1,443,115)

(1,051,891)

Repayments for participation investment

-

79,046

Net cash used in investing activities

(2,296,913)

(1,160,259)