PROGRESSING TOGETHER.
INTEGRATED ANNUAL REPORT 2024
199001015406 (207075-U)
(Incorporated in Malaysia)
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PROGRESSING TOGETHER.
INTEGRATED ANNUAL REPORT 2024
199001015406 (207075-U)
(Incorporated in Malaysia)
Scroll Down
The journey forward is not one taken alone. Just as ants work in unison, each performing its role with purpose and precision, OSK Group moves as a collective, united by a shared vision and common objectives. Every step we take strengthens the foundation for sustainable progress, ensuring that we are Moving Forward, Progressing Together. Our success is built on collaboration, resilience and the unwavering commitment of every individual working towards a shared future.
Financial Highlights
(FY2023: RM 1.6 billion)
(FY2023: RM555.1 million)
(FY2023: RM10.4 billion)
(FY2023: RM6.1 billion)
(FY2023: RM2.97)
(FY2023: 7.0 sen)
(FY2023: 5.65%)
(FY2023: 0.41 times)
(FY2023: RM2.5 billion)
(FY2023: 7.91%)
Business Highlights
Upheld quality excellence in our products by achieving an average QLASSIC score of
with an estimated effective gross development value of RM15.7 billion, with land parcels in Malaysia and Australia
in Malaysia
Partnered with PeopleUp, a leading multi-enrichment and play group from Singapore, to establish a flagship family entertainment centre spanning over 60,000 sqft, set to open in the fourth quarter of 2025
(FY2023: RM1.7 billion)
(FY2023: RM1.3 billion)
(FY2023: RM465 million)
(FY2023: 20,745 km)
Completed the acquisition of
in Johor Bahru
(FY2023: 1,218,309 m2)
Completed renovations of Swiss-Garden Beach Resort Kuantan leading to a significant increase in Average Daily Rates (ADR) of
Sustainability Highlights
Inducted into the
FTSE4Good Bursa Malaysia Index
Investment of RM2.7 million in community development to catalyse
positive change
Establishment of a Board Sustainability Committee to enhance the Group’s sustainability governance and strengthen sustainability stewardship
Introduction of Sustainable Labour Practices Policy, Sustainable Procurement Policy and Sustainable Property Portfolio Management Policy to integrate ESG considerations across operations
training hours to support staff development
Investment in employee learning and development increased by
Solar power capacity increased to
1.96 MWp at 7 sites
Maintained zero workplace fatalities
group-wide
group-wide reduction in
grid electricity consumption
recipients of the OSK Foundation Scholarship since 2021
A group-wide reduction of
21.3% in municipal water consumption
volunteer hours recorded, doubling from
the previous period
in investment towards digitalisation and automation
Maintained zero substantiated cases of corruption and bribery
2,622.9 MTCO2e, reduced by 7.0% as compared to FY2023
24,774.4 MTCO2e, reduced by 12.6% as compared to FY2023
7,014.0 MTCO2e
Scope 1 & 2 emissions reduced by 12.1% compared to FY2023
women at Board level
women at Senior Management level
Aligned with
(FY2023: RM 1.6 billion)
(FY2023: RM555.1 million)
(FY2023: RM10.4 billion)
(FY2023: RM6.1 billion)
(FY2023: RM2.97)
(FY2023: 7.0 sen)
(FY2023: 5.65%)
(FY2023: 0.41 times)
(FY2023: RM2.5 billion)
(FY2023: 7.91%)
Upheld quality excellence in our products by achieving an average QLASSIC score of
with an estimated effective gross development value of RM15.7 billion, with land parcels in Malaysia and Australia
in Malaysia
Partnered with PeopleUp,a leading multi-enrichment and play group from Singapore, to establish a flagship family entertainment centre spanning over 60,000 sqft, set to open in the fourth quarter of 2025
(FY2023: RM1.7 billion)
(FY2023: RM1.3 billion)
(FY2023: RM465 million)
(FY2023: 20,745 km)
Completed the acquisition of
in Johor Bahru
(FY2023: 1,218,309 m2)
Completed renovations of Swiss-Garden Beach Resort Kuantan leading to a significant increase in Average Daily Rates (ADR) of
Inducted into the
FTSE4Good Bursa Malaysia Index
Investment of RM2.7 million in community development to catalyse positive change
Establishment of a Board Sustainability Committee to enhance the Group’s sustainability governance and strengthen sustainability stewardship
Introduction of Sustainable Labour Practices Policy, Sustainable Procurement Policy and Sustainable Property Portfolio Management Policy to integrate ESG considerations across operations
training hours to support staff development
Investment in employee learning and development increased by
Solar power capacity increased to 1.96 MWp at 7 sites
Maintained zero workplace fatalities group-wide
group-wide reduction in grid electricity consumption
recipients of the OSK Foundation Scholarship since 2021
A group-wide reduction of 21.3% in municipal water consumption
volunteer hours recorded, doubling from the previous period
in investment towards digitalisation and automation
Maintained zero substantiated cases of corruption and bribery
2,622.9 MTCO2e, reduced by 7.0% as compared to FY2023
24,774.4 MTCO2e, reduced by 12.6% as compared to FY2023
7,014.0 MTCO2e
Scope 1 & 2 emissions reduced by 12.1% compared to FY2023
women at Board level
women at Senior Management level
Aligned with
Executive Chairman
In 2024, OSK Group continued to operate with resilience while charting the way forward through strategic and sustainable growth initiatives. I am pleased to share that our steadfast focus on long-term planning, disciplined execution, and sustainable value creation enabled us to maintain steady progress across all business divisions.
OSK Foundation contributed RM2.7 million in 2024
to initiatives in education, community development and environment
OSK Foundation launched a two-year collaboration with the Global Environmental Centre to protect the Sungai Kayu Ara catchment area in Selangor
OSK Group won the Company of the Year Award at the Sustainability & CSR Malaysia Awards 2024, recognising its commitment to inclusive growth
Group Managing Director
In 2024, the Group’s commitment to disciplined execution, operational excellence and stakeholder value creation was the cornerstone of its continued success. It was a year of forward momentum as we strived to grow our core businesses and capture new opportunities while navigating a challenging operating environment.
OSK Group demonstrated resilience and strategic focus, achieving stable financial performance and reaching key operational milestones across all divisions. The Group’s diversified portfolio, supported by precise planning, disciplined execution and operational excellence, enabled us to deliver unprecedented results.
RM1,658 million (FY2023: RM1,588 million)
RM611 million (FY2023: RM555 million)
RM6,429 million (FY2023: RM6,121 million)
Financial Capital
Manufactured Capital
Intellectual Capital
Human Capital
Social and Relationship Capital
Natural Capital
Our funding and financial resources needed to support our business operations and expansion.
Our manufactured capital comprises tangible objects essential for producing products and services across all our business segments, including facilities and equipment. Manufacturing lines, sales galleries and production sites are integral components of the Group's manufactured capital, providing the framework and systems that support the operational needs of our businesses.
Intangible assets including our branding, reputation, industry know-how, market insights, research and development, as well as our Group's vision, mission, values and culture that create a competitive advantage for the business.
Our biggest asset is our people who represent the Group's collective knowledge, experience, skills, competencies, drive and the ability to innovate to meet our business goals and objectives.
Synergies formed through strategic partnerships, community goodwill, social licence and engagements that we carry out with all our stakeholders.
Natural resources consumed by the Group in the course of our daily operations including land, clean water, air, renewable and non-renewable energy, as well as natural habitals and ecosystems that from our living environment.
P1 Driving Value Creation
P2 Caring for the Environment
P3 Elevating Societal Well-Being
P4 Championing Responsible Governance
In 2024, the Group recorded a 4% increase in revenue, reaching RM1.7 billion compared to RM1.6 billion in 2023. This was achieved despite challenges and uncertainties in its business segments, underscored by volatility in foreign exchange, global geopolitical tensions and persistently high interest rates in Australia. Profit before tax grew by 10% to RM611.4 million, driven by strong performances across key business segments.
The Property Development Division, under the banner of the OSK Property brand, continued to deliver value for our Stakeholders. With a dedication to excellence and a customer-first approach, we have earned our reputation as a trusted brand in the market.
OSK’s Property Investment Division encompasses a diverse portfolio of properties, including retail malls and commercial buildings. Overall, the retail property market in Malaysia faced challenges in maintaining occupancy levels in 2024, highlighting the importance of innovative strategies to enhance tenant attraction and customer experience.
The Financial Services Segment delivered a stronger performance in 2024 on the back of higher financing disbursement and average financing portfolio, driven by the Group’s strategic planning. In our Capital Financing business, our Group focuses on providing financing to the underserved segments of the market in Malaysia and Australia.
The performance of our Industries Segment is closely connected to the construction and infrastructure market landscape. Various infrastructure projects planned by the Government, coupled with the increase in property development activities, would directly benefit the cable and IBS businesses. The National Energy Transition Roadmap (“NETR”) is also poised to act as a major driver for our cable business.
In 2024, OSK’s Hotels & Resorts Business demonstrated progress in enhancing its offerings and expanding its market reach. With a portfolio spanning urban and resort destinations, the division remains focused on improving product quality and delivering exceptional guest experiences.
Sustainability remains a core focus in OSK, as we strive to balance economic priorities with our impact on the environmental, social and governance (“ESG”) spheres. In FY2024, we continued to advance our sustainability agenda and achieved several milestones on our journey.
Most notably, OSK has been inducted into the FTSE4Good Bursa Malaysia Index, which measures public listed companies’ liquidity and ESG performances. We also enhanced our sustainability governance, Group Sustainability Policy and rolled out new policies to improve labour, procurement and property management practices, enabling us to better embed sustainability into our operations.
We will continue to incorporate ESG considerations into our operations and strengthen our sustainability and reporting practices, with the aim of creating more sustainable value for our stakeholders.
© 2025 OSK Holdings Berhad 199001015406 (207075-U).