Financial
Snapshot
In 2024, the Group’s revenue grew by 32.2% to RM1,741.9 million, mainly due to RM383.2 million in construction revenue from projects in Laos and the Maldives, as well as a 5% increase in revenue from core divisions. The addition of RM50.6 million from the newly acquired CSC Group also contributed to growth, though this was partly offset by the absence of RM71.0 million from the disposed Tawau power plant.
Core divisions recorded a 9.2% increase in pre-tax profit to RM540.1 million, driven by strong performances in the Renewable Energy and Resources divisions, despite a decline in the Packaging division.
The Group’s overall pre-tax profit rose by 6.8% to RM509.3 million, bolstered by RM36.6 million in construction profit, although this was partly offset by higher losses in the Investment Holding and Others division. Losses widened significantly to RM67.4 million due to a larger share of losses from associates and joint ventures, fair value and foreign exchange losses. These were partially offset by insurance income and a smaller fair value gain on put option liability.
5 YEARS SUMMARY
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Amounts in RM’000 Unless Otherwise Stated | |||||
| Consolidated Statements of Profit or Loss and Other Comprehensive Income | |||||
| Revenue | 767,126 | 914,673 | 1,339,635 | 1,317,635 | 1,741,879 |
| EBITDA | 510,354 | 539,532 | 624,252 | 638,930 | 757,578 |
| Profit Before Tax | 389,265 | 539,580 | 490,569 | 476,788 | 509,319 |
| Profit After Tax | 378,180 | 530,665 | 475,727 | 451,640 | 491,018 |
| Profit After Tax Attributable to Owners of the Company | 321,290 | 462,330 | 396,804 | 383,708 | 459,178 |
| Consolidated Statements of Financial Position | |||||
| Total Assets | 3,081,696 | 3,869,262 | 4,289,023 | 4,508,411 | 5,121,355 |
| Equity Attributable to Owners of the Company | 1,927,510 | 2,393,104 | 2,750,647 | 3,056,908 | 3,324,524 |
| Total Equity | 2,165,612 | 2,739,576 | 3,191,026 | 3,224,018 | 3,544,454 |
| Financial Indicators | |||||
| Basic Earnings per Share (sen) | 35.3 | 48.8 | 42.0 | 40.7 | 48.7 |
| Net Assets per Share (RM) | 2.0 | 2.5 | 2.9 | 3.2 | 3.5 |
| Gross Dividend Yield (%) | 1.8% | 1.9% | 2.2% | 2.2% | 2.0% |
| Net Debt/Equity Ratio (%) | 26.1% | 19.0% | 6.9% | 12.2% | 24.8% |
| Share Price as at 31 December (RM) | 3.45 | 3.50 | 3.32 | 3.69 | 4.59 |
| Ordinary Shares in Issue as at 31 December | 947,357,502 | 945,420,802 | 945,305,802 | 942,759,502 | 942,541,502 |
| Market Capitalisation (RM’000) | 3,409,815 | 3,459,232 | 3,281,329 | 3,647,019 | 4,536,536 |