Integrated Annual Report 2023 2 3 4 5 6 7 8 9 1 27 CHAIRMAN’S STATEMENT 2023 2022 (RM2.5 billion) On the back of the 14.2% revenue growth in 2023, profits were impacted by the ongoing cost-push inflation that was influenced by persistent increases in the costs associated with operating our business. Despite the lower profits, we remain committed to rewarding our shareholders and declared a single-tier interim dividend of 2 sen per share for the financial year ended 31 December 2023. DELIVERING VALUE Most of the savings were generated through effective procurement and finance processes, digitalisation and automation, as well as rationalising non-core businesses. In the face of a challenging business landscape, UEM Edgenta demonstrated resilience in 2023, marking its best revenue growth in six years despite global economic uncertainties and competitive pressures. Our performance this year was bolstered by increased infrastructure projects and healthcare contracts, particularly benefiting from strong performance in Singapore, Taiwan and commencement of revenue recognition from our operations in the Kingdom of Saudi Arabia (“KSA”). Our proactive stance on delivery model optimisation, alongside a dedication to smart, sustainable solutions and technological innovations, also positioned us to effectively address the demands of a rapidly evolving market. ADDRESSING OUR CHALLENGES WITH EoTF2025 The main challenge in our industry, in addition to stiff competition, has been the rising costs in terms of labour, raw materials and consumables due to persistently high inflation. Appropriately, one of the key pillars of the EoTF2025 strategy is focused on extracting value from core businesses through cost optimisation and over the past three years, initiatives under this pillar has seen UEM Edgenta obtain RM81.8 million in savings, or 82% of the RM100 million target. RM 2.9 billion 14.2% RM 81.8 million in savings, or 82% of the RM100 million target
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