AUDITED FINANCIAL STATEMENTS 2022 81 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 18 SEGMENT REPORTING Operating segments are reported in a manner consistent with the internal management reporting provided to the chief operating decision maker (“CODM”), which is the Group Management Committee (“GMC”). The GMC considers the business by product related activities. The reportable segments for the financial year ended 31 December 2022 have been identified as follows: • Plantation Sector - Plantation estates activities including cultivation, harvesting and production of fresh fruit bunches (“FFB”) and processing of FFB into crude palm oil (“CPO”) and palm kernel (“PK”), refining of CPO, fractionation of refined bleached deodorised palm oil (“RBDPO”) and Palm Olein (“PO”), crushing of PK, production of oleochemicals namely fatty acid and glycerine, processing and sales of biodiesel products, production of consumer bulk and packed products, trading of CPO, research and development activities, fertilisers processing, rubber processing and production, sale of planting materials and security. • Sugar Sector - Sugar refining, sales and marketing of refined sugar and molasses. • Logistics and Others Sector - Bulking and transportation facilities and services, engineering services, information technology and travel. Corporate HQ, Others and Elimination mainly relates to the inclusion of investment holding companies within the Group and Group consolidation adjustments, which are not part of the operating segments. The GMC assesses the performance of the operating segments based on profit before zakat and taxation. The segment information provided to the GMC for the reportable segments for the financial year reported is as follows: Plantation RM’000 Sugar RM’000 Logistics and Others RM’000 Corporate HQ, Others and Elimination RM’000 Total RM’000 2022 Total segment revenue 32,285,034 2,757,977 759,625 290,628 36,093,264 Less: Inter-segment revenue (9,711,848) (192,091) (370,884) (256,898) (10,531,721) Revenue from external customers 22,573,186 2,565,886 388,741 33,730 25,561,543 Profit/(loss) before zakat and taxation for the financial year 2,117,954 (177,179) 104,249 (89,801) 1,955,223 Zakat (35,142) Taxation (651,480) Profit after taxation for the financial year 1,268,601 Other information: Finance income 19,285 4,071 2,048 852 26,256 Finance costs (32,164) (29,092) (3,874) (61,380) (126,510) Depreciation and amortisation (555,527) (74,539) (74,002) (14,079) (718,147) Write-offs/write-down (49,062) (492) (516) (159) (50,229) (Impairment)/reversal of impairment loss (net) - financial assets (9,294) 1,935 (10,265) (17) (17,641) - non-financial assets (55,204) - 1,061 (8,949) (63,092) Fair value changes in LLA liability (352,870) - - - (352,870) Share of results of joint ventures 133,555 - - 12,609 146,164 Share of results of associates 3,200 - - (542) 2,658 Capital expenditure 626,103 46,472 79,904 21,135 773,614
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