NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 43 SEGMENTAL ANALYSIS (CONTINUED) 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. Energy Solutions Services Renewable Energy Industrial Trading & Services Others Total RM’000 RM’000 RM’000 RM’000 RM’000 RESULTS Financial year ended 31 December 2022 Revenue 1,699,115 482,374 320,437 187,494 2,689,420 Less: Inter segment revenue (2,476) - - (426) (2,902) External revenue 1,696,639 482,374 320,437 187,068 2,686,518 Segment profits 62,237 54,712 10,727 4,826 132,502 Share of results of associates (11,641) - 29 (2) (11,614) Share of results of joint ventures (6,637) 447 - (5,146) (11,336) 43,959 55,159 10,756 (322) 109,552 Unallocated expenses relating to financing activities (15,148) Unallocated corporate expenses (12,383) Profit before tax 82,021 TOTAL ASSETS As at 31 December 2022 Segment assets 1,795,687 456,461 112,993 76,369 2,441,510 Investment in associates 101,520 - 298 - 101,818 Investment in joint ventures 26,844 3,890 - 1,966 32,700 Assets classified as held for sale - - 16,171 - 16,171 Assets of disposal group classified as held for sale 24,659 - - - 24,659 1,948,710 460,351 129,462 78,335 2,616,858 Unallocated corporate assets - Deferred tax assets 50,117 - Tax recoverable 10,590 - Cash and cash equivalents 11,432 - Others 24,453 Total assets 2,713,450 Wah Seong Corporation Berhad Annual Report 2022 192
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