93 FINANCIAL STATEMENTS & OTHERS The Directors hereby submit their report and the audited financial statements of the Group and of the Company for the financial year ended 31 March 2024. PRINCIPAL ACTIVITIES The Company is principally engaged in property investment, investment holding, management services activities and sale of completed properties. The principal activities of the subsidiaries are mainly property development and trading, investment holding, provision of project management of engineering, procurement, construction and commissioning and decommissioning for multi-discipline in oil & gas industries, provision of upstream and midstream infrastructure technology solution to the oil and gas industry, leasing and provision of related services, business of engineering, procurement and construction of civil works, steel structure, mechanical, piping and electrical and instrumental installation and provision of maritime services and marine engineering related businesses. Further details of the subsidiaries are disclosed in Note 6 to the financial statements. There have been no significant changes in the nature of the activities of the Company and its subsidiaries other than the newly additional principal activities of provision of engineering design, fabrication & construction, installation, leasing and refurbishment of single point mooring systems, floating production storage & offloading (FPSO) units and floating storage & offloading (FSO) units for the oil and gas industry during the financial year. RESULTS Group Company RM’000 RM’000 Loss for the financial year (16,448) (14,990) Attributable to: Equity holders of the Company (14,877) (14,990) Non-controlling interests (1,571) - (16,448) (14,990) DIVIDEND No dividend has been paid, declared or proposed since the end of the previous financial year. The Directors do not recommend the payment of any dividend in respect of the current financial year. RESERVES AND PROVISIONS There were no material transfers to or from reserves or provisions during the financial year. ISSUE OF SHARES AND DEBENTURES The Company did not issue any new shares or debentures during the financial year. DIRECTORS’ REPORT
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