+ 3Q23 Infrastructure revenue grew 1.3% YoY, in spite of a volatile gas price and the implementation of temporary price control measures. 100% of its customers for integrated power sales are locked in on fixed rates, or indexed electricity price plans, for next 2 years. This provides stability to 68% of the group’s revenue. The fuel input costs are hedged, and costs are passed through, including the higher carbon taxes in 2024.
+ M1 expanded customer base by 7.2% YoY to 2,548. It grew enterprise revenue by 29.4% YoY, due to the acquisition of a Malaysian ICT in late 2022.
– Real estate 3Q revenue fell 53.9% YoY, as reflected in the weak property sentiment and rising interest rates. 3Q23 home unit sales fell to 260 units in China (1H23: 1,200 units) and 160 units in India (1H23: 870 units). No sales were recorded in Vietnam for this year.
– Net gearing rose to 0.89x from 0.86x at Jun 2023, after the distribution of interim dividend.