During the FY2024, the activities within the oil and gas industry have increased significantly due to the stable price of crude oil.

As a result, for the FY2024, the Group remarked a historical high revenue of RM1.47 billion compared to RM1.11 billion in FY2023. The overall financial performance of the Group had significantly improved with the Group's profit after tax ("PAT") stood at RM364.59 million for the FY2024, representing an increase of 55.03% as compared to RM235.18 million in FY2023. The strong financial performance was supported by higher contract value, daily charter rates ("DCR") and utilisation rate. During the period under review, the Group recorded 68% vessel utilisation rate compared to 58% in FY2023.

Moving forward, the Group will strive to remain financially and operationally solid by continuously improving its profitability and remaining a costefficient service provider for the industry without compromising health and safety standards. We will continue to monitor the current operating environment and remain salient on capital preservation, cash flow management, and cost efficiency.

As a result of better performance, I am happy to report that the Board of Directors declared its 1st interim dividend of RM0.03 per ordinary share in the aggregate amount of RM35 million, which was distributed on 18 September 2024 and the final dividend of RM0.07 per ordinary share in the aggregate amount of RM81 million was distributed on 17 March 2025.

Finally, I would like to take this opportunity to express my upmost appreciation and gratitude to all members of the Board, management team and employees for their undivided commitment and dedication. Moving forward, we are confident that the Group shall continue to perform and generate better results.

Yours sincerely,

DATUK HASMI BIN HASNAN
Executive Chairman