WASCO BERHAD 20 CHIEF FINANCIAL OFFICER’S REVIEW Exit of Trading Business In line with the Group’s business rationalisation strategy, the Group had decided to exit the trading business. This involved the divestment of WDG Resources Sdn. Bhd. (“WDG”) and Syn Tai Hung Trading Sdn. Bhd. (“STHT”), with active efforts to secure buyers for both entities. By 30 June 2024, the Group entered into an agreement for the disposal of WDG through the sale of 1,200,000 ordinary shares and 4,800,000 redeemable preference shares, representing 60% and 80% ownership, respectively, for a total consideration of approximately RM731,000. This disposal resulted in WDG and its subsidiaries ceasing to be part of the Group’s operations. WDG remained classified under discontinued operations in the Condensed Consolidated Statement of Profit or Loss of the Group for part of the year. For STHT, despite efforts to identify a suitable buyer, no viable offers were received. Consequently, in November 2024, the Group opted to proceed with the liquidation of STHT instead of disposal. Therefore, for the financial year ended 31 December 2024, STHT was reclassified under continuing operations. Sustained Profitability & Business Growth 2024 2023 2022 2021 2020 PATMI/(LATMI) (RM million) PBT/(LBT) (RM million) 153.0 108.4 (6.3) (107.5) (295.1) (100.3) (268.0) 221.1 218.3 74.9
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