OUTLOOK Heading into FY2025, we are cautiously optimistic while closely monitoring macroeconomic headwinds that may affect our cost structure and margins. Public sector investment in infrastructure development and sustainability-linked initiatives present new growth opportunities; however, we expect external cost pressures to persist, contributing to ongoing margin compression. Global inflationary trends and supply chain tensions continue to influence material costs. Rising wage floors remain an area of concern for our labour-intensive operations. In this context, sustained vigilance and strict, strategic cost management responses are critical. To this end, we are expanding our ongoing cost transformation programme to extract greater efficiencies from within the company. Alongside a continued enforcement of budgetary discipline and topdown, bottom-up cost control, comprehensive business reviews and financial and staffing analysis will aim to identify areas for improvement, optimise resource deployment and refine service delivery. Additionally, workflow automation and enhancements to policies and procedures will support process optimisation within Finance and Procurement to maximise purchasing benefits and achieve greater cost savings. From a Group perspective, we anticipate continued improvements in our operating cash flow, driven by stronger customer collections and enhanced working capital efficiency. Cost optimisation will play a key role in sustaining this cash generation as we optimise our asset utilisation and streamline our working capital to reinforce our ability to invest in future growth. Furthermore, our strengthened cash reserve position and low gearing ratio give us ample headroom to support our business expansion while navigating potential volatility. Overall, FY2024 was a transformational year for the Group, as we strengthened our financial fundamentals while capitalising on growth opportunities in emerging markets and adjacent sectors. Maintaining this momentum will require a deep and continued focus on cost agility, operational excellence and prudent capital deployment as we look to further enhance our profitability against our encouraging top-line growth. With a strong balance sheet, expanding tech-enabled capabilities and a growing international portfolio, we look forward to the year ahead and beyond, as committed as ever to deliver service excellence to our customers and sustainable returns to our shareholders. AHMAD FAZRIL FAUZI Chief Financial Officer FY2024 was a transformational year, seeing strengthened financial fundamentals and strategic growth, with the Group entering the years ahead focused on cost agility, operational excellence and sustainable value creation in order to deliver returns. 41 LEADERSHIP INSIGHTS
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