Quarterly Report Q2 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

6 Months Ended

Quarter

Quarter

31.12.2024

31.12.2023

31.12.2024

31.12.2023

RM'000

RM'000

RM'000

RM'000

Revenue

8,058,892

7,530,064

15,832,826

15,051,104

Cost of sales

(5,843,688)

(5,212,581)

(11,377,806)

(10,404,932)

Gross profit

2,215,204

2,317,483

4,455,020

4,646,172

Other operating income

173,138

98,258

297,099

226,431

Other operating expenses

(607,013)

(567,736)

(1,623,708)

(1,231,504)

Profit from operations

1,781,329

1,848,005

3,128,411

3,641,099

Finance costs

(615,086)

(666,543)

(1,216,247)

(1,357,522)

Share of results of associates

and joint ventures

129,817

94,199

283,093

206,369

Profit before taxation

1,296,060

1,275,661

2,195,257

2,489,946

Taxation

(277,263)

(245,810)

(526,436)

(519,943)

Profit for the period

1,018,797

1,029,851

1,668,821

1,970,003

Attributable to:-

Owners of the parent

580,008

589,215

913,721

1,110,941

Non-controlling interests

438,789

440,636

755,100

859,062

Profit for the period

1,018,797

1,029,851

1,668,821

1,970,003

Earnings per share

Basic (Sen)

5.26

5.37

8.29

10.13

Diluted (Sen)

5.17

5.27

8.15

9.95

Individual Quarter

Cumulative Quarter

Current

Preceding Year

Year Corresponding

6 Months Ended

Quarter

Quarter

31.12.2024

31.12.2023

31.12.2024

31.12.2023

RM'000

RM'000

RM'000

RM'000

Profit for the period

1,018,797

1,029,851

1,668,821

1,970,003

Other comprehensive income/(loss) :-

Item that will not be reclassified

subsequently to income statement:-

- financial assets at fair value through

other comprehensive income

(28,652)

84,276

7,456

84,399

Items that may be reclassified

subsequently to income statement:-

- cash flow hedges

162,648

(315,128)

(173,227)

18,795

- revaluation reserves

-

-

6,236

-

- share of other comprehensive

(loss)/income of associate

(29,862)

(13,186)

116,673

(19,317)

- foreign currency translation

577,520

312,376

(1,414,150)

28,102

Other comprehensive income/

(loss) for the period, net of tax

681,654

68,338

(1,457,012)

111,979

Total comprehensive income

for the period

1,700,451

1,098,189

211,809

2,081,982

Attributable to :-

Owners of the parent

949,626

631,535

95,828

1,167,140

Non-controlling interests

750,825

466,654

115,981

914,842

Total comprehensive income

for the period

1,700,451

1,098,189

211,809

2,081,982

Unaudited

Audited

As at

As at

31.12.2024

30.06.2024

ASSETS

RM'000

RM'000

Non-current Assets

Property, plant and equipment

38,520,742

37,816,881

Right-of-use assets

2,193,954

2,135,525

Investment properties

2,332,794

2,233,455

Service concession assets

833,546

881,894

Investment in associates and joint ventures

4,509,539

4,727,418

Investments

737,610

525,493

Inventories

819,200

796,145

Intangible assets

9,399,559

9,934,119

Operating financial assets

566,546

404,484

Post-employment benefit assets

26,848

31,124

Deferred tax assets

365,401

338,369

Trade, other receivables and contract assets

3,119,502

3,255,049

Derivative financial instruments

7,425

16,353

63,432,666

63,096,309

Current Assets

Inventories

1,444,350

1,301,207

Property development costs

647,235

692,508

Trade, other receivables and contract assets

7,331,777

6,960,529

Derivative financial instruments

47,725

122,256

Operating financial assets

48,028

234,730

Income tax assets

112,703

140,511

Investments

1,935,820

1,983,383

Fixed deposits

13,323,420

12,836,846

Cash and bank balances

1,553,584

1,422,355

26,444,642

25,694,325

TOTAL ASSETS

89,877,308

88,790,634

Unaudited

Audited

As at

As at

31.12.2024

30.06.2024

EQUITY AND LIABILITIES

RM'000

RM'000

Share capital

3,513,904

3,491,793

Other reserves

1,145,722

1,970,015

Retained profits

11,438,801

11,010,763

Less : Treasury shares, at cost

(54,452)

(54,452)

Equity Attributable to Owners of the Parent

16,043,975

16,418,119

Non-controlling interests

7,645,362

7,741,967

Total Equity

23,689,337

24,160,086

Non-current Liabilities

Long term payables and contract liabilities

2,211,650

2,348,355

Bonds & borrowings

41,732,212

40,628,636

Lease liabilities

1,290,895

1,233,511

Grants and contributions

695,685

721,874

Deferred tax liabilities

3,635,490

3,763,739

Post-employment benefit obligations

97,892

90,484

Provision for liabilities and charges

45,293

34,527

Service concession liabilities

443,391

559,198

Derivative financial instruments

18,278

1,198

50,170,786

49,381,522

Current Liabilities

Trade, other payables and contract liabilities

7,265,501

7,253,374

Service concession liabilities

423,188

385,172

Derivative financial instruments

77,844

20,016

Bonds & borrowings

6,790,985

5,993,260

Lease liabilities

694,865

739,506

Income tax liabilities

634,426

725,723

Provision for liabilities and charges

130,376

131,975

16,017,185

15,249,026

TOTAL LIABILITIES

66,187,971

64,630,548

TOTAL EQUITY AND LIABILITIES

89,877,308

88,790,634

Net Assets per share (RM)

1.45

1.49

6 Months Ended

31.12.2024

31.12.2023

RM'000

RM'000

Cash flows from operating activities

Profit before tax

2,195,257

2,489,946

Adjustments for :-

Adjustment on fair value of investment properties

22,628

121

Amortisation of contract costs

1,414

793

Amortisation of deferred income

(9,575)

(8,890)

Amortisation of grants and contributions

(1,242)

(2,929)

Amortisation of intangible assets

39,771

34,328

Amortisation of service concession assets

212,165

-

Bad debts written off/(recovered)

5,293

(655)

Depreciation of property, plant and equipment

898,154

871,777

Depreciation of right-of-use assets

118,977

90,778

Dividend income

(2,637)

(2,316)

Fair value changes of financial assets

1,456

(17,787)

Fair value gain on derivatives

(1,950)

-

Impairment loss

43,539

54,843

Interest expense

1,216,247

1,357,522

Interest income

(431,654)

(469,276)

Net gain on disposal of investments

(1,828)

-

Net gain on disposal of property, plant and equipment

(14,241)

(5,384)

Net gain on disposal of associate

-

(11,420)

Property, plant and equipment written off

15,850

2,535

Provision for post-employment benefits

19,692

18,992

Share of results of associates and joint ventures

(283,093)

(206,369)

Share option expenses

183

14,688

Unrealised loss on foreign exchange

135,661

5,627

Other non cash items

13

(490)

Operating profit before changes in working capital

4,180,080

4,216,434

6 Months Ended

31.12.2024

31.12.2023

RM'000

RM'000

Changes in working capital:-

Inventories

5,101

(95,179)

Property development costs

(3,103)

(19,753)

Receivables, deposits and prepayments

(391,891)

500,352

Payables and accrued expenses

(106,724)

(778,820)

Cash generated from operations

3,683,463

3,823,034

Dividend received

326,984

284,511

Interest paid

(1,108,749)

(969,028)

Interest received

422,838

457,993

Payment for service concession liabilities

(227,726)

-

Payment to a retirement benefits scheme

(24,924)

(18,092)

Income tax paid

(523,899)

(228,390)

Net cash from operating activities

2,547,987

3,350,028

Cash flows from investing activities

Acquisition of new subsidiaries (net of cash acquired)

(571,762)

-

Additional investment in associate

(47,921)

(24,672)

Development expenditure incurred

(25,260)

(13,717)

Grants received in respect of infrastructure assets

26,350

14,640

Maturities/withdrawals of income funds

500,228

421,652

Proceeds from disposal of property, plant and equipment

62,064

4,890

Proceeds from disposal of associate

-

25,000

Proceeds from disposal of investments

128,399

5,114

Proceeds from finance lease receivables

1,425

1,930

Purchase of intangible assets

(3,473)

(28,994)

Purchase of investment properties

(159,609)

-

Purchase of investments

(592,452)

(327,222)

Purchase of property, plant and equipment

(2,876,944)

(1,750,861)

Net cash used in investing activities

(3,558,955)

(1,672,240)