Quarterly Report Q4 FY 2024

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

- 29

Quarter Ended

Financial year ended

Unaudited

Audited

Unaudited

Audited

30.06.2024

30.06.2023

30.06.2024

30.06.2023

RM'000

RM'000

RM'000

RM'000

Revenue

8,270,504

9,205,855

30,529,002

29,616,085

Cost of sales

(5,944,545)

(6,800,897)

(21,462,506)

(23,163,010)

Gross profit

2,325,959

2,404,958

9,066,496

6,453,075

Other operating income

454,938

272,249

847,286

638,365

Other operating expenses

(900,778)

(688,194)

(2,805,678)

(2,465,629)

Profit from operations

1,880,119

1,989,013

7,108,104

4,625,811

Finance costs

(610,705)

(640,569)

(2,615,363)

(2,316,743)

Share of results of associated

companies and joint ventures

64,906

74,350

410,756

420,045

Profit before taxation

1,334,320

1,422,794

4,903,497

2,729,113

Taxation

(180,322)

(280,131)

(947,185)

(606,769)

Profit for the period/year

1,153,998

1,142,663

3,956,312

2,122,344

Attributable to:-

Owners of the parent

534,483

548,027

2,141,655

1,095,699

Non-controlling interests

619,515

594,636

1,814,657

1,026,645

Profit for the period/year

1,153,998

1,142,663

3,956,312

2,122,344

Earnings per share

Basic (Sen)

4.86

5.00

19.52

9.99

Diluted (Sen)

4.77

4.95

19.17

9.94

Quarter Ended

Financial year ended

Unaudited

Audited

Unaudited

Audited

30.06.2024

30.06.2023

30.06.2024

30.06.2023

RM'000

RM'000

RM'000

RM'000

Profit for the period/year

1,153,998

1,142,663

3,956,312

2,122,344

Other comprehensive income/(loss) :-

Items that will not be reclassified

subsequently to income statement:-

- re-measurement of post-

employment benefit obligations

(28,342)

(249,825)

(28,342)

(249,825)

- financial assets at fair value through

other comprehensive income

(134,446)

(58,189)

(22,636)

(61,314)

- foreign currency translation

(62,717)

431,303

26,936

638,464

Items that may be reclassified

subsequently to income statement:-

- cash flow hedges

35,006

61,721

239,838

(513,435)

- revaluation reserves

4,774

-

4,774

-

- share of other comprehensive (loss)/

income of associated company

(7,926)

171,371

(2,719)

125,441

- foreign currency translation

(73,320)

638,429

68,692

954,133

Other comprehensive (loss)/income

for the period/year, net of tax

(266,971)

994,810

286,543

893,464

Total comprehensive income

for the period/year

887,027

2,137,473

4,242,855

3,015,808

Attributable to :-

Owners of the parent

385,092

1,193,828

2,303,127

1,690,628

Non-controlling interests

501,935

943,645

1,939,728

1,325,180

Total comprehensive income

for the period/year

887,027

2,137,473

4,242,855

3,015,808

Unaudited

Audited

As at

As at

30.06.2024

30.06.2023

ASSETS

RM'000

RM'000

Non-current Assets

Property, plant and equipment

37,735,573

35,330,655

Right-of-use assets

2,156,182

1,524,877

Investment properties

2,200,856

1,966,666

Service concession assets

881,894

-

Investment in associated companies and joint ventures

4,727,419

4,241,291

Investments

543,089

533,169

Land held for development

796,145

786,093

Intangible assets

9,912,465

9,428,412

Operating financial assets

404,484

-

Post-employment benefit assets

31,124

64,314

Deferred tax assets

355,761

353,268

Trade, other receivables and contract assets

3,253,125

3,020,606

Derivative financial instruments

16,353

2,879

63,014,470

57,252,230

Current Assets

Inventories

1,301,209

1,219,606

Property development costs

692,508

443,555

Trade, other receivables and contract assets

6,934,043

6,005,757

Derivative financial instruments

122,256

18,824

Operating financial assets

234,730

-

Income tax assets

140,314

108,352

Investments

2,033,775

1,986,392

Fixed deposits

12,830,526

11,195,322

Cash and bank balances

1,409,986

3,230,331

25,699,347

24,208,139

TOTAL ASSETS

88,713,817

81,460,369

Unaudited

Audited

As at

As at

30.06.2024

30.06.2023

EQUITY AND LIABILITIES

RM'000

RM'000

Share capital

3,491,793

3,467,555

Other reserves

1,982,702

1,761,203

Retained profits

10,840,137

9,291,387

Less : Treasury shares, at cost

(54,452)

(54,452)

Equity Attributable to Owners of the Parent

16,260,180

14,465,693

Non-controlling interests

7,948,891

5,647,540

Total Equity

24,209,071

20,113,233

Non-current liabilities

Long term payables and contract liabilities

2,322,107

1,852,574

Bonds & borrowings

40,627,772

38,654,949

Lease liabilities

1,247,460

1,094,322

Grants and contributions

716,337

699,025

Deferred tax liabilities

3,793,187

3,773,208

Post-employment benefit obligations

90,484

38,426

Provision for liabilities and charges

34,527

22,483

Service concession liabilities

559,198

-

Derivative financial instruments

1,198

9,654

49,392,270

46,144,641

Current Liabilities

Trade, other payables and contract liabilities

7,132,618

6,467,702

Service concession liabilities

385,172

-

Derivative financial instruments

20,016

110,828

Bonds & borrowings

5,986,343

7,799,243

Lease liabilities

745,244

260,388

Income tax liabilities

711,108

439,911

Provision for liabilities and charges

131,975

124,423

15,112,476

15,202,495

TOTAL LIABILITIES

64,504,746

61,347,136

TOTAL EQUITY AND LIABILITIES

88,713,817

81,460,369

Net Assets per share (RM)

1.48

1.32

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 2022

3,467,555

8,681,706

(54,452)

996,132

13,090,941

4,702,593

17,793,534

Profit for the financial year

-

1,095,699

-

-

1,095,699

1,026,645

2,122,344

Other comprehensive (loss)/income

-

(138,820)

-

733,749

594,929

298,535

893,464

Total comprehensive income

for the financial year

-

956,879

-

733,749

1,690,628

1,325,180

3,015,808

Capital repayment upon liquidation of a

non-wholly owned subsidiary

-

-

-

-

-

(172)

(172)

Changes in composition of the Group

-

(18,352)

-

2,560

(15,792)

690

(15,102)

Dividends paid

-

(328,923)

-

.

(328,923)

(387,296)

(716,219)

Reclassification upon disposal of

investments designated at FVOCI

-

-

-

6,187

6,187

-

6,187

Share options expenses

-

-

-

22,652

22,652

6,545

29,197

Share option lapsed

-

77

-

(77)

-

-

-

At 30 June 2023

3,467,555

9,291,387

(54,452)

1,761,203

14,465,693

5,647,540

20,113,233

Financial year ended

Unaudited

Audited

30.06.2024

30.06.2023

RM'000

RM'000

Cash flows from operating activities

Profit before tax

4,903,497

2,729,113

Adjustment for :-

Adjustment on fair value of investment properties

(1,287)

68,559

Amortisation of contract costs

1,966

1,021

Amortisation of deferred income

(4,909)

(5,632)

Amortisation of grants and contributions

(19,158)

(17,951)

Amortisation of intangible assets

67,552

64,577

Amortisation of service concession assets

33,938

-

Bad debts recovered

(1,721)

(824)

Depreciation of property, plant and equipment

1,653,305

1,620,651

Depreciation of right-of-use assets

209,591

213,476

Dividend income

(66,941)

(3,786)

Fair value changes of financial assets

(299,706)

(93,192)

Fair value loss on derivatives

28

-

Impairment loss

374,722

130,394

Interest expense

2,615,363

2,316,743

Interest income

(941,045)

(567,466)

Inventories written off

20,189

-

Net gain on disposal of investments

(4,513)

(6,089)

Net gain on disposal of property, plant and equipment

(17,060)

(6,514)

Net (gain)/loss on disposal of associated companies

(11,420)

1,843

Property development costs written down

-

17,424

Property, plant and equipment written off

9,180

14,403

Provision for post-employment benefits

39,743

34,192

Provision for liabilities & charges

3,772

7,467

Share of results of associated companies and joint ventures

(410,756)

(420,045)

Share option expenses

84,314

28,713

Unrealised gain on foreign exchange

(22,551)

(156,701)

Other non cash items

1,620

97

Operating profit before changes in working capital

8,217,713

5,970,473

Financial year ended

Unaudited

Audited

30.06.2024

30.06.2023

RM'000

RM'000

Changes in working capital:-

Inventories

(247,944)

(3,273)

Property development costs

(9,595)

(58,849)

Receivables, deposits and prepayments

(333,769)

(1,590,804)

Payables and accrued expenses

(60,358)

1,488,237

Cash generated from operations

7,566,047

5,805,784

Dividend received

604,290

529,324

Interest paid

(1,956,576)

(1,714,386)

Interest received

935,351

554,311

Payment for service concession liabilities

(45,764)

-

Payment to a retirement benefits scheme

(39,844)

(237,583)

Income tax paid

(644,735)

(266,503)

Net cash from operating activities

6,418,769

4,670,947

Cash flows from investing activities

Acquisition of subsidiaries

(524,794)

(10,020)

Additional investment in associated company

(286,922)

(74,550)

Development expenditure incurred

(20,645)

(10,653)

Grants received in respect of infrastructure assets

33,732

31,051

Maturities/(placements) of income funds

270,452

(415,000)

Proceeds from disposal of property, plant & equipment

33,093

66,666

Proceeds from disposal of associated companies

25,000

9,694

Proceeds from disposal of investments

360,404

75,471

Proceeds from finance lease receivables

3,265

2,741

Purchase of intangible assets

(47,466)

(66,960)

Purchase of investment properties

(88,968)

(4,596)

Purchase of investments

(284,924)

(266,585)

Purchase of property, plant & equipment

(3,604,083)

(2,078,728)

Purchase of right-of-use assets

(39,937)

(3,669)

Repayments for participation investment

177,842

194,682

Shareholder loans

-

(167,300)

Net cash used in investing activities

(3,993,951)

(2,717,756)