Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 42 CAPITAL COMMITMENTS Capital expenditure as at the reporting date is as follows: Group 2023 2022 RM’000 RM’000 Commitment to acquire property, plant and equipment not provided for in the financial statements: Approved and contracted 47,037 14,525 43 SEGMENTAL ANALYSIS For management purposes, the Group is organised into business units based on their products and services. During the financial year, the operating segments of the Group have been restructured to reflect its current management and operational structure. Correspondingly the comparative presentations have been reclassified. The Group’s operating segments comprise: (a) Energy services division: Pipe coating, pipe manufacturing for the oil and gas industry, building and operating offshore/onshore field development facilities and the provision of highly specialised equipment and services to the power generation, oleochemical and petrochemical industries. (b) Bioenergy services division: Supplier and manufacturer of specialised equipment for biomass power plants; such as industrial fans, boilers and turbines that run primarily on biomass fuels. (c) Trading division: Trading and distribution of building materials and the manufacturing and trading of industrial pipes for the construction industry. During the financial year, the Group has decided to divest its Trading businesses. Accordingly, the trading segment has been classified as “Discontinued operations”. See Note 22(a) for details. (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. Integrated Annual Report 2023 270
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