Financial Statements Financial Statements Press Metal Aluminium Holdings Berhad 268 269 Integrated Annual Report 2023 Notes to the Financial Statements Notes to the Financial Statements 26. DIVIDENDS (CONT’D) After the end of the reporting period, the following dividend was declared by the Directors on 28 February 2024 and paid on 29 March 2024. This dividend will be recognised in subsequent financial year. Sen per share Total amount RM’000 Fourth interim 2023 ordinary 1.75 144,193 The Directors do not recommend any final dividend to be paid for the financial year under review. 27. OPERATING SEGMENTS The Group has four reportable segments, as described below, which are the Group’s strategic business units. The strategic business units offer different products and services, and are managed separately because they require different technology and marketing strategies. For each of the strategic business units, the Chief Operating Decision Maker (“CODM”) (i.e. the Group’s Chief Executive Officer) reviews internal management reports on a monthly basis. The following summary describes the operations in each of the Group’s reportable segments: • Smelting and Extrusion Includes manufacturing and trading of smelting and extrusion products • Trading Includes marketing of aluminium and other related products • Refinery Includes refinery of alumina • Investment holding Includes investment holding The manufacturing and trading of smelting and extrusion products are managed by two different segments within the Group. These operating segments are aggregated to form a reportable segment as Smelting and Extrusion due to the similar nature and economic characteristics of the products. The nature and methods of distribution of the products for these divisions are similar. The type of customers for the products are similar, which consist of industrial customers. Other non-reportable segments comprise operations related to contracting and fabrication and dormant companies. None of these segments met the quantitative thresholds for reporting segments in 2023 and 2022. There are varying levels of integration between Smelting and Extrusion, Trading and Refinery reportable segments. This integration includes transfers of raw materials and shared distribution services respectively. Inter-segment pricing is determined on negotiated basis. Performance is measured based on segment profit before tax and interest, as included in the internal management reports that are reviewed by the CODM. Segment profit is used to measure performance as management believes that such information is the most relevant in evaluating the results of certain segments relative to other entities that operate within these industries. Segment assets The total of segment assets is measured based on all assets (including goodwill) of a segment, as included in the internal management reports that are reviewed by the CODM. Segment total asset is used to measure the return on assets of each segment. Segment liabilities Segment liabilities information is neither included in the internal management reports nor provided regularly to the CODM. Hence, no disclosure is made on segment liabilities. Segment capital expenditure Segment capital expenditure is the total cost incurred during the financial year to acquire property, plant and equipment, right-of-use assets, investment properties and other investments other than goodwill. 27. OPERATING SEGMENTS (CONT’D) Group Smelting and extrusion Trading Refinery Investment holding Total 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Segment profit 1,661,139 1,882,819 107,725 156,638 14,625 33,872 207,421 120,618 1,990,910 2,193,947 Included in the measure of segment profit are: Revenue from external customers 12,634,941 14,035,820 846,874 1,251,902 321,740 372,410 - - 13,803,555 15,660,132 Inter-segment revenue 507,532 632,011 1,811,501 2,202,173 - - - - 2,319,033 2,834,184 Property, plant and equipment written off 19,998 16,435 - 66 - - - - 19,998 16,501 Share of profit or loss of associates - - (5,252) 15,913 - - 212,608 158,492 207,356 174,405 Share of other comprehensive income of associates - - - - - - 12,112 - 12,112 - Unrealised foreign exchange gain/(loss) 15,277 (1,415) (3,107) 7,796 1,039 - (5,153) (5,454) 8,056 927 Depreciation and amortisation 621,796 526,005 16,792 8,067 47,739 48,180 513 516 686,840 582,768 Not included in the measure of segment profit but provided to CODM: Finance costs 57,938 80,733 2,146 2,863 16,273 16,130 165,867 138,762 242,224 238,488 Finance income 18,556 6,303 454 517 820 195 3,811 2,893 23,641 9,908 Tax expense 107,492 160,139 1,865 16,564 (2,195) 6,275 22,039 2,264 129,201 185,242 Segment assets 12,018,998 12,456,336 414,954 319,365 1,029,272 1,042,941 2,601,265 1,850,099 16,064,489 15,668,741 Included in the measure of segment assets are: Investments in associates - - 54,760 67,792 - - 1,781,630 1,475,804 1,836,390 1,543,596 Additions to non-current assets other than financial instruments and deferred tax assets 664,982 679,887 35,481 8,287 29,881 28,289 2,533 - 732,877 716,463
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