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Operating Segments

6 Months Ended

Jun. 30, 2024

OPERATING SEGMENTS

Services from which reportable segments derive their revenues reported to the Group’s chief operating decision maker (CODM) for the purposes of resource allocation and assessment of segment performance focuses on the types of services provided. Management has chosen to organise the Group around differences in services. No operating segments have been aggregated in arriving at the reportable segments of the Group.

Segment revenues and results

	Revenue						Net profit
	June 30, 2023		June 30, 2024				June 30, 2023			June 30, 2024
	RM		RM		USD		RM			RM			USD

Business strategy consultancy		20,789,179		52,647,479		11,160,748		6,498,804			22,909,476			4,856,584
Technology development, solutions and consultancy		19,733,018		8,250,188		1,748,959		11,772,361			3,760,825			797,258
Interest income		1,118,641		3,193,950		677,086		667,227			1,056,683			224,006
Others		2,822,357		659,975		139,908		1,616,933			(201,048	)		(42,620	)
Total		44,463,195		64,751,592		13,726,701		20,555,325			27,525,936			5,835,228
Other gains and losses								125,326			(1,260,822	)		(267,282	)
Interest income								942			3,771			799
Finance cost								(1,246	)		(28,786	)		(6,102	)
Profit before income tax								20,680,347			26,240,099			5,562,643
Income tax expense								(626,143	)		(826,402	)		(175,189	)
Profit for the year								20,054,204			25,413,697			5,387,454

Revenue reported above represents revenue generated from external customers and related party. The revenue generated form related party is RM3,268,262 ($692,839) for June 30, 2024 (June 30, 2023: NIL)

The accounting policies of the reportable segments are the same as the Group’s accounting policies described in Note 2. Segment profit represents the profit earned by each segment without allocation of central administration costs, finance income, finance cost and income tax expense. This is the measure reported to the chief operating decision maker for the purposes of resource allocation and assessment of segment performance.

Segment assets

	December 31, 2023		June 30, 2024
	RM		RM		USD
Business strategy consultancy		56,519,511		217,846,586		46,181,332
Technology development, solutions and consultancy		15,496,175		34,137,918		7,236,903
Interest income		38,007,733		13,216,039		2,801,670
Investments and others		8,024,218		2,730,869		578,917
		118,047,637		267,931,412		56,798,822
Unallocated assets		-		-		-
Consolidated total assets		118,047,637		267,931,412		56,798,822

No geographical segment information presented as Group’s operations are conducted predominantly in Malaysia.