CONSTRUCTION Matrix’s construction division comprises the operations of Matrix Excelcon Sdn Bhd, which is the Group’s inhouse construction arm. Matrix Excelcon undertakes all construction works and manages all construction with the exception of high-rise projects. It undertakes only construction projects related to the Matrix Group. As the various COVID-19 related restrictions imposed on the construction sector were removed, Matrix Excelcon achieved a higher progress of works on almost all construction sites. Works however, continued to be affected by manpower shortages, which was an industry wide problem faced by almost all construction players. Despite the limitations of workers at its construction sites, Matrix Excelcon still managed to record higher revenue of RM320.8 million, an increase of 7.6% compared to the previous year’s RM298.0 million. Given Matrix Excelcon only undertakes internal projects, revenues from Matrix Excelcon are eliminated through inter-company transactions. In FY2023, Matrix Excelcon has continued to focus on addressing its environmental footprint. Given that construction operations are typically resource intensive and produce a significant environmental footprint, Matrix Excelcon, in FY2023 has been undertaking measures to reduce and recycle wastes, to drive improvement in resource and cost efficiency through re-engineering its work processes and enhancing procurement strategies. The company also has continued to focus on its occupational health and safety (“OHS”) performance as any OHS incident would cause delays on site and impact work productivity and have negative social impacts. HEALTHCARE Matrix Medicare Sdn Bhd is the Group’s healthcare division and in FY2020, entered into a 30-year management agreement with Pusat Hemodialisis Mawar (“PHM”) for the provision of management services for its medical and haemodialysis centre. PHM is the owner of Mawar Medical Centre (“Mawar”). Matrix Medicare manages all nonclinical aspects of Mawar‘s operations, including finance, administration and resources. The agreement had paved the way for the resumption of Mawar’s operations, which prior to Matrix’s involvement was deregistered by the Ministry of Health due to financial and other issues. In FY2023, Mawar has continued to have a positive impact on local communities, serving as the preferred choice for healthcare. The hospital offers multi-disciplinary medical care that continues to meet the healthcare needs of multiple demographics segments. In FY2023, Mawar treated 56,089 number of patients, a 54.2% increase yearon-year (FY2022: 36,378 patients). In meeting growing demand, the hospital successfully increased the number of beds available to 57 in FY2023 (FY2022: 48 beds) as part of its ongoing restructuring exercise to ensure a comprehensive healthcare delivery to the surrounding community. This is expected to provide a healthy growth revenue for the hospital going forward as it plans to further enhance its offerings in FY2023 with the increase in medical discipline, inpatient beds availability and other medical services. Mawar has secured most of the panelships from small insurance companies as well as larger insurers such as Zurich, Prudential Assurance and Great Eastern Assurance. The empanelment process continues towards adding the remaining few names to the panel. MANAGEMENT DISCUSSION & ANALYSIS Magnetic Resonance Imaging (MRI) machine 1.5 Tesla Large bore 70 cm INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 53
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