MANAGEMENT DISCUSSION & ANALYSIS d’SORA BOUTIQUE BUSINESS HOTEL NEGERI SEMBILAN CONSTRUCTION An integral entity of the Matrix business model is Matrix Excelcon, the Group’s in-house construction division. Recently, the Construction unit has ventured into high-rise development, being the main contractor for the Levia Residences, expanding its expertise beyond its primary role of managing all construction works of landed properties at the Group’s townships. Given it only undertakes internal projects, revenues from Matrix Excelcon are deemed as inter-company transactions and has thus been eliminated. In FY2024, the revenue achieved by Matrix Excelcon stood at RM552.0 million, significantly higher than the RM320.8 million recorded in FY2023. Cognisant of the increasing awareness surrounding climate change and the impact on our environment, it is providential to note the Group had already placed sustainability on the agenda of the Board. This has enabled the continuation of the Group’s strong commitment to continue to explore avenues to mitigate the environmental impact of its operations. This firm commitment has supported Matrix Excelcon’s ongoing efforts to explore avenues to minimise or eliminate construction waste, improve maintenance processes, adopt more efficient construction techniques and recycle or reuse material wherever possible. d’Sora Boutique Business Hotel offers a compelling value proposition of premium hotel services and facilities, value-formoney packages and strategic location. In FY2024, d’Sora registered a marginally higher average occupancy rate of 60.5% (FY2023: 58.4%). The return to normalcy post-pandemic has resulted in increased revenue from the MICE segment and food and beverage offerings. d’Sora posted revenue of RM3.0 million in FY2024, a 20% increase over revenue of RM2.5 million in FY2023. However, the Group’s sole hotel has successfully reversed previous year’s losses of RM0.22 million to register PAT of RM0.21 million in FY2024. With the increasing momentum of travel, Management is optimistic of improved performance in the financial year ahead. d’Sora Boutique Business Hotel Elonia II, Bayu Sutera KEY MESSAGES 51 INTEGRATED ANNUAL REPORT 2024
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