Wah Seong Corporation Berhad Annual Report 2021 188 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 43 SEGMENTAL ANALYSIS (CONTINUED) The Group’s operating segments comprise (continued): (c) Industrial trading & services division: Trading and distribution of building materials and the manufacturing and trading of industrial pipes for the construction industry. (d) Others: All other units within the Group that do not constitute a separately reportable segment. Management monitors the operating results of its divisions separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on revenue and profitability measures as shown in the table below. Transactions between segments were entered into in the normal course of business and were established on agreed terms. The effects of such inter-segmental transactions are eliminated on consolidation. The assets are allocated based on the operations of the respective segments. The amounts provided to the Group Chief Executive Officer with respect to total assets are measured in a manner consistent with the disclosure of segment assets below. Oil & Gas Renewable Energy Industrial Trading & Services Others Total RM’000 RM’000 RM’000 RM’000 RM’000 RESULTS Financial year ended 31 December 2021 Revenue 728,411 281,960 278,768 143,032 1,432,171 Less: Inter segment revenue (2,425) - - (435) (2,860) External revenue 725,986 281,960 278,768 142,597 1,429,311 Segment (losses)/profits (21,551) 27,766 10,751 (18,063) (1,097) Share of results of associates (49,653) - 630 (4) (49,027) Share of results of joint ventures (21,148) 467 - (3,988) (24,669) (92,352) 28,233 11,381 (22,055) (74,793) Unallocated expenses relating to financing activities (11,371) Unallocated corporate expenses (14,177) Loss before tax (100,341) TOTAL ASSETS As at 31 December 2021 Segment assets 1,267,615 413,049 116,388 72,714 1,869,766 Investment in associates 152,586 - 29,012 - 181,598 Investment in joint ventures 40,459 6,873 - 6,606 53,938 Assets classified as held for sale 39,501 - 5,408 - 44,909 1,500,161 419,922 150,808 79,320 2,150,211 Unallocated corporate assets - Deferred tax assets 37,447 - Tax recoverable 6,210 - Cash and cash equivalents 12,193 - Short term investment 654 - Others 24,726 Total assets 2,231,441
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