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Operating Segments

12 Months Ended

Jun. 30, 2024

21. OPERATING SEGMENTS

The Group’s businesses are organised into business units based on their products and services provided. The performance of each segment is measured based on the internal management report reviewed by Chief Operating Decision Maker. The Group business segments as follow:

(a)

Internet of Things (“IoT”)

(b)

Investment holding and others

Management monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment.

Segment results, assets and liabilities include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. The inter-segment transactions have been entered into at arms-length with terms mutually agreed between the segments and have been eliminated to arrive at the Group’s results.

(a)

Business segments

The following table provides an analysis of the Group’s revenue, results, assets, liabilities and other information by business segment:

As of June 30, 2024
	IoT		Investment holding and others		Total
	RM		RM		RM
Assets
Segment assets		240,411,194		32,459,929		272,871,123
Deferred tax assets and tax recoverable		38,559		-		38,559
Total assets		240,449,753		32,459,929		272,909,682

Liabilities
Segment liabilities		622,632		946,284		1,568,916
Deferred tax liabilities and tax payable		7,258,186		5,519		7,263,705
Total liabilities		7,880,818		951,803		8,832,621

As of June 30, 2024 (Cont’d)
	IoT		Investment holding and others		Total
	RM		RM		RM
Additions to non-current assets:
Property, plant and equipment		30,000,000		-		30,000,000

Revenue
Total revenue		58,186,647		-		58,186,647
- Inter-segment revenue		-		-		-
Revenue from external parties		58,186,647		-		58,186,647

Results
Loss before interest, depreciation and tax	(7,374,704	)	(3,426,200	)	(10,800,904	)
Depreciation of:
- property, plant and equipment	(28,310,019	)	-		(28,310,019	)
- right-of-use assets	(124,572	)	-		(124,572	)
Amortisation of intangible asset	(27,871,638	)	-		(27,871,638	)
Finance income/(cost), Net	117,245		1,480,411		1,597,656
Loss before tax	(63,563,688	)	(1,945,789	)	(65,509,477	)
Tax expense	10,864,620		(43,977	)	10,820,643
Loss for the financial year	(52,699,068	)	(1,989,766	)	(54,688,834	)

As of June 30, 2023
	IoT		Investment holding and others		Total
	RM		RM		RM
Assets
Segment assets		364,549,780		31,133,035		395,682,815
Deferred tax assets and tax recoverable		20,849		-		20,849
Total assets		364,570,629		31,133,035		395,703,664

Liabilities
Segment liabilities		36,181,129		22,271,732		58,452,861
Deferred tax liabilities and tax payable		18,400,242		12,804		18,413,046
Total liabilities		54,581,371		22,284,536		76,865,907

As of June 30, 2023 (Cont’d)
	IoT		Investment holding and others		Total
	RM		RM		RM
Additions to non-current assets:
Property, plant and equipment		72,383,744		-		72,383,744

Revenue
Total revenue		242,132,250		-		242,132,250
- Inter-segment revenue		-		-		-
Revenue from external parties		242,132,250		-		242,132,250

Results
Profit/(Loss) before interest, depreciation and tax	63,598,843		(4,068,113	)	59,530,730
Depreciation of:
- property, plant and equipment	(15,859,909	)	-		(15,859,909	)
- right-of-use assets	(126,945	)	-		(126,945	)
Amortisation of intangible asset	(22,423,148	)	-		(22,423,148	)
Finance income/(cost), Net	365,310		406,966		772,276
Profit/(Loss) before tax	25,554,151		(3,661,147	)	21,893,004
Tax expense	5,676,935		(32,714	)	5,644,221
Profit/(Loss) for the financial year	31,231,086		(3,693,861	)	27,537,225

As of June 30, 2022
	IoT		Investment holding and others		Total
	RM		RM		RM
Assets
Segment assets		326,879,076		1,721,377		328,600,453
Deferred tax assets and tax recoverable		12,841		-		12,841
Total assets		326,891,917		1,721,377		328,613,294

Liabilities
Segment liabilities		9,923,189		2,000		9,925,189
Deferred tax liabilities and tax payable		24,193,067		90		24,193,157
Total liabilities		34,116,256		2,090		34,118,346

As of June 30, 2022 (Cont’d)
	IoT		Investment holding and others		Total
	RM		RM		RM
Additions to non-current assets:
Property, plant and equipment		56,017,056		-		56,017,056
Intangible assets		78,000,000		-		78,000,000
		134,017,056		-		134,017,056

Revenue
Total revenue		443,024,003		-		443,024,003
- Inter-segment revenue		-		-		-
Revenue from external parties		443,024,003		-		443,024,003

Results
Profit/(Loss) before interest, depreciation and tax	106,355,733		(1,812,671	)	104,543,062
Depreciation of:
- property, plant and equipment	(933,859	)	-		(933,859	)
- right-of-use assets	(116,801	)	-		(116,801	)
Amortisation of intangible asset	(15,423,146	)	-		(15,423,146	)
Finance income/(cost), Net	222,745		395		223,140
Profit/(Loss) before tax	90,104,672		(1,812,276	)	88,292,396
Tax expense	(14,909,278	)	(96	)	(14,909,374	)
Profit/(Loss) for the financial year	75,195,394		(1,812,372	)	73,383,022

(b)

Geographical segments

The Group operates predominantly in Malaysia and revenue from overseas is insignificant. Accordingly, the information by geographical segment is not presented.