I'd like to highlight comparing the full year of 2024 with 2023. First, the group revenues stood at MYR 6.5 billion, a slight increase of 1.4%, or MYR 92.8 million. Mainly, it's driven by higher revenue from the gas processing. This is arising from a higher reservation charge income that comes together with the new term that we signed last year. This, however, was offset by lower revenue from the utility segment, mainly due to lower product prices. Gross profit declined marginally, only 0.4%, or MYR 9.7 million at MYR 2.3 billion. Mainly, it's a result of rising operating costs across all segments, also from a higher level of maintenance activities and depreciation expenses. This is in line with the higher completion of capital projects. However, that was cushioned by lower gas fuel gas costs and internal gas consumption expenses in tandem with the lower fuel gas price. Consequently, the profit before tax (PBT) decreased by 1.1%, or MYR 25.7 million, primarily due to a lower share of profit from joint venture companies. However, PGB effectively mitigated this impact through strategic risk management, including, as I mentioned just now, the settlement of USD lease liabilities for LNG terminal, the gas processing terminal in Melaka, and that has reduced our financing costs. Additionally, the favorable foreign exchange movement from the strengthening of Ringgit Malaysia to USD on the lease liabilities for the Pengerang LNG terminal also further cushioned the decline. Despite the lower PBT, profit for the year rose by 1.2%, or MYR 22.6 million. This is from the lower tax expenses following the one-off recognition of the ITA for the year of assessment 2024. Similarly, EBITDA was higher by 2.7%, or MYR 87.6 million, albeit the lower PBT, mainly due to the lower share of profit from joint venture companies and higher depreciation, as mentioned. Earnings per share increased by 0.9%, reflecting the higher profit as attributable to shareholders of the company. And the dividend per share for the quarter was approved at MYR 0.22 per ordinary share, similar to the corresponding period last year. And again, I'd like to iterate that this demonstrates our commitment to ensure a sustained level of return to shareholders. We have delivered strong financial performance, but I'd like also to highlight that we are also making significant progress in our business for this quarter. As I've mentioned, we have received the letter of notification in August 2024 to develop a 100-megawatt power plant in Kimanis, and I'm happy to report that the project is progressing well, groundbreaking last November. The MYR 700 million project is expected to start commercial operation by March 2026, and this is considered a fast-track project. While the second power plant that we have been highlighting to all of you, the Labuan power plant, we have received the letter of notification. What is being mentioned in the slide is the LON. I'm happy to report that this morning we have received the LON. So the project is ready to progress in the next stage of construction. On the sustainability, we have received good recognition, a higher score of 4.7 for FTSE4Good rating from Bursa Malaysia, and this has increased from 4.1 we achieved in 2023, and a lot of increase in this scoring is primarily because of improved scoring in our environment and social disclosure, while we have always maintained our almost perfect score for the governance portion. Moving on into our GPA, guided by the new operating philosophy, we successfully secured the full 12 months of incentive and reaped the maximum benefit for the third-term GPA. And under the third-term GPA, significantly stricter requirements were imposed by the shipper under the latest GPA framework that we signed for the new term. We have also increased our power export to the grid during the quarter NEDA. And this one, we are proud to note that today the export to NEDA is on an AI-based management tool, which will help us to export into the grid through the analytics that were done by the AI. Now, as you're aware, also, our business model is largely driven by CapEx return, where we invest in infrastructure projects and on track with our CapEx plan. Having said that, we have made significant CapEx investment this year, directed towards PGB's growth initiative. As highlighted in our previous announcement and briefing, several of these projects are progressing well. Notable examples include the LNG storage development and LNG-driven ASU in Pengerang, along with our ongoing power plant project. This investment reflects our commitment to long-term value creation and sustainable business growth. As a responsible corporate citizen, we are committed to making a positive impact in the communities where we operate. In line with this commitment, we have launched our flagship CSR program in collaboration with Yayasan Hijau Malaysia. Through this initiative, we will be installing solar panels at selected locations in Melaka as a starting point, and this will be contributing to both community well-being and the reduction of greenhouse gas emissions for us. Now, we have come to the details. We've come to the details of our business and financial performance. As always, this section will be presented by Shahrul. Over to you, Shahrul. Thank you, Encik Aziz. Good day, everyone. I shall take you through the business and financial performance for quarter four 2024. Let's start with the gas processing segment. Our gas processing performance was crucial in 2024 as we entered into the first year of our third-term gas processing agreement with PETRONAS. As mentioned by Encik Aziz earlier, despite the most stringent incentive benchmarks, we successfully met the target set by PETRONAS, showcasing the dedication and expertise of our management and operation teams, leveraging digital tools such as our tech center and also IGC optimization initiative that we have done at the gas processing business segment. On that note, in terms of the financial performance for quarter four 2024, against preceding quarter, quarter three 2024, the gross profit declined by 6.9% due to the higher operating costs in line with the higher level of maintenance activities and also higher depreciation costs, coupled with lower revenue from IGC incentive for quarter four as compared to quarter three. Against the corresponding quarter, quarter four 2023, gas processing segment gross profit rose by 6.5%, or around MYR 11 million, driven by higher revenue following higher reservation charges income under the new term of GPA, which was effective early this year, and partially offset by higher operating expenses from higher level of maintenance activities. For the 12-month period, against the corresponding period last year, segment gross profit saw a marginal increase but close to 1%, reflecting higher reservation charges income under the new term, and that was offset by higher level of maintenance activities in trade during the year. Moving on to the next segment, gas transportation. In the gas transportation business segment, we successfully delivered projects under the RP2. At the same time, we maintained our operational excellence by effectively managing our aging assets, ensuring regulatory compliance, and balancing stakeholder expectations to sustain long-term business value. So for the financial performance for quarter four, against preceding quarter, quarter three, segment gross profit decreased by 20%, mainly due to higher level operating expenses because we had higher level of maintenance activities in quarter four as compared to quarter three. We also incurred higher depreciation expense in quarter four in line with higher completion of capital projects. Against the corresponding quarter, quarter four 2023, the result decreased by about 3.4% due to higher operating expenses, mainly from depreciation and maintenance costs. But this was offset by higher revenue from upward tariff adjustment, mainly related to reduction in internal gas consumption expenditure as allowed by Incentive-Based Regulation framework of [audio distortion]. For the full year, 12 months against the corresponding period last year, segment result grew by 5.4%, or about MYR 30.5 million, mainly due to higher revenue from the upward reduction of tariff, coupled with lower IGC expenses, and partially offset by higher level of maintenance and depreciation expenditure incurred during the year. Let's move on to the next section, the next business segment, regasification. For the regasification segment, we continue to maintain our operational excellence through effective asset management and optimizing equipment efficiency for the plant reliability and ensuring a reliable gas supply to the network. Through strategic project execution, we also maximize capacity and sustain long-term business value for gas regasification business. For the financial performance, quarter four against preceding quarter, quarter three, segment gross profit was lower by 19%, mainly due to higher level of maintenance activities performed in quarter four. Against the corresponding quarter, quarter four 2023, the gross profit was lower by 15%, mainly due to higher operating expenditure, mainly from maintenance activities, and for the full year, 12-month period against last year, segment result was lower by 5.9% due to higher level of maintenance activities as well as higher depreciation costs, and this was partially mitigated by lower internal gas consumption activities as a result of our optimization initiatives. Moving on to the next business segment, utilities. For utilities segment, we continuously enhance our equipment efficiency while ensuring reliable product delivery to our customers. As briefly mentioned by Encik Aziz earlier, the deployment of utilities optimizer has further improved our efficiency, particularly by increasing the number of electricity that we supply to the grid via NEDA scheme. The digital automation system also enables agile operation of our cogeneration plant, optimizing power and steam production to effectively align with demand, ensuring both efficiency and reliability. For electricity, for 2024, volume was higher than last year, mainly due to higher power pick from our customers and higher export to the grid driven by attractive system marginal price, or SMP. For steam, customer offtake in 2024 was marginally lower due to lower consumption from our customers following its respective plant shutdown. For industrial gases, we saw higher sales volume in 2024 due to higher consumption from our customers in line with high demand. On the financial numbers, against the preceding quarter, quarter three 2024, segment gross profit decreased by 45% due to lower revenue from electricity, steam and industrial gases products following lower customer offtakes, but this was offset by lower fuel gas costs. Against the corresponding quarter, quarter four 2023, segment gross profit decreased by 16% following higher operating expenses, mainly from higher maintenance activities and fuel gas costs, coupled with slight decline in revenue due to decrease in sales volume from electricity and steam products. For the full year, 12-month period against last year, segment result declined slightly by 2.4% following lower revenue and higher maintenance expenses, but this was cushioned by favorable impact of lower fuel gas costs following downward movement of average MRP in 2024 as compared to 2023. So let's move on to the financial performance for the group. As explained earlier, we sustained our commendable performance across our plants and facilities. And our financial performance in 2024 can be attributed to three main factors. First and foremost, we managed to sustain our operational excellence, where we maximized GPA incentive via the new operational philosophy, as well as the optimization of utility cogeneration and IGC, leveraging digital tools. Secondly, our disciplined cost management, where we maximized our CapEx utilization by concerted efforts. We also continue to optimize our expenditure in line with the cost discipline that we have instilled in our daily operation. Finally, we employed effective risk mitigations by deploying foreign currency hedging strategy to mitigate our cost fluctuations. As mentioned by Encik Aziz earlier, we also executed early settlement of one of our USD liabilities to reduce our financing costs and exposure to foreign currency movement. On the numbers for full year 2024, comparing against corresponding year to date last year, our group revenue stood at MYR 6.5 billion, a slight increase of 1.4%, driven by higher revenue from gas processing following higher reservation charges under the new term. Gross profit declined marginally by 0.4% as a result of rising operating costs across all segments, but this is in particular due to higher level of maintenance activities as well as higher depreciation expenditure. Profit for the year rose by 1.2% due to lower financing costs following the early settlement of our USD lease liability for RGTSU in prior year. Favorable forex movement for the existing lease liability coupled with lower tax expense following the one-off recognition of investment tax allowance for year of assessment 2024. In 2024, we have recognized the deferred tax asset for the investment tax allowance given to our assets in Santong, Terengganu. And this was offset by lower share of profit from joint venture companies. Moving on to our balance sheet, our total assets was at MYR 18.8 billion, lower by 2.9%, mainly due to bullet repayment of our Islamic financing facility made in March last year, amounting to MYR 1.2 billion. And this reduction in cash was partially cushioned by cash generated from our operation during the year. Correspondingly, total liabilities decreased by 18% as a result of the bullet repayment of our Islamic financing facility. Even though there was a reduction in cash and cash equivalents to MYR 2.6 billion during the year, the cash balance remained healthy with some headroom for existing and upcoming growth projects. For 2024, as said, the 31st December 2024, we saw our PPE balance being higher, driven by asset growth from increased CapEx, and this reflects our strategic investment and expansion initiatives. Despite the high CapEx spending, we sustained a strong dividend, leveraging robust earnings and efficient capital management. The board has approved the fourth interim dividend of MYR 0.22 per share payable on 20th March 2025. This demonstrates our commitment to ensure a sustainable level of return to the shareholders despite the challenging business operating landscape. We're still able to provide healthy level payout more than what we have committed under our dividend policy. That's all from me. I will now pass the floor to Encik Aziz to share on the outlook for PGB. Thank you, Shahrul. Ladies and gentlemen, our results reflect PGB's commitment to operational excellence. Alhamdulillah, we were well positioned to continue to deliver this strong performance throughout 2024. So moving forward, while we remain dedicated to maintaining safe, reliable, and efficient world-class operations, which is a basic foundation for us to uphold profitability and deliver value to our shareholders, we are also excited on the growth opportunities, which is in line with our growth strategy that we have highlighted to all of you many times. Now, before I talk about some of the areas of growth that we're looking at, one of the big themes for PGB is on the CapEx and project progress. On that note, PGB in 2024 has made significant capital investment, not only to sustain our operation, but also to support, to deliver the growth projects that we have FID throughout the year and in 2023. All projects funded through major CapEx, as mentioned, are progressing well, and this is reinforcing our commitment to infrastructure development and long-term value creation. Our regulated CapEx spending is on track. As you all are aware, RP2 has another year to go, and this CapEx spending is critical, ensuring compliance with the regulatory framework while securing projected returns. This disciplined approach has safeguarded sustainable and predictable earnings for the company. Now, looking at the growth area, one focus area is sweating the assets beyond our core projects. As all of you are aware, PGB has a lot of land banks from our right of way. So we are looking at sweating this asset in new step-up business. We also have still, you know, despite our sanctioning of the ASU project from the cold energy, we still have significant potential of cold energy that we can sweat to support our growth aspiration. So this is one of the focus areas that we'll be looking at as one of the core growth for the company. Second is new gas and electricity sector infrastructures, and this is to meet the demand that the country is projecting, especially to support the data centers that the country intends to attract as an investment. So what we are focusing here is, you know, leveraging on our capabilities in projects for new gas infrastructure as well as power generation infrastructure. I think we are in excellent position to capture the opportunities in these two areas. And I'm sure that we will be required to meet the increasing demand, as I mentioned. Key to this is our networking and engagement with the stakeholders so that, you know, we can secure all these opportunities in the infrastructure that are required, expansion that are required to meet the demand. So we look forward to secure these opportunities and hopefully we'll continue to support the growth for the company. That's all for now. Thank you and over to you, Suriyati. Thank you, Encik Aziz and Encik Shahrul. We have now come to the question and answer session. Please be reminded to press the raise hand button and we will open the microphone for the selected participant. You may also post your question in the chat box and we will select any question to be answered. The floor is yours, ladies and gentlemen. We have Mr. Daniel. Hi, Daniel. Can you hear us, Daniel? Yep, I can hear you guys. Can you guys hear me? Yes. Okay, I have a quick question here. Firstly, on the JV, why has it declined in the fourth quarter compared to previous quarters? Because it's quite low, so it came low in this quarter. Secondly, on the ITA for 2024, how much was recognized? Do we expect further ITA to be recognized in this year or coming years? Thirdly, on the GPA incentive, how much was it recognized for the full year of 2024? That's all for me. Thank you. Shahrul, we take this. Okay, thank you, Daniel. I think if you're comparing quarter four against quarter four last year, I think why there's a significant reduction in the share of profit from JV and associates. Mainly, if you remember during last year's earnings briefing, we did share with the analysts that one of the JV companies recognized what we call a one-off tax optimization that was recognized in quarter four last year. And we don't have that in quarter four. So I think if you were to normalize that one-off recognition of that so-called tax optimization by one of the JV last year, I think the contribution of the share of profit will be not far off compared to quarter four last year. So that's the first question. The second question, if I get it correctly, you're asking about the incentive ITA that we recognized in 2024. It is in relation to the tax incentive granted under the ECER for the assets modernization and upgrading for our gas processing plant in Santong, and this is a one-off incentive given by under the ECER region, and we don't anticipate the same to be recognized in the future. The third one is in relation to gas processing incentives. As you guys are aware, there's two parts of it. The first one is the performance-based scheme where we need to prove that the plant remains at high reliability level for us to secure the performance bonus. The second part is the IGC incentive where if we actually utilize lower volume of gas for the purpose of our operation, we'll be incentivized on the low volume and depending on the gas price. So in 2024, we have actually recognized close to MYR 100 million in relation to this incentive. But the big chunk of it is coming from the IGC incentive where we actually have been incentivized or being rewarded based on the lower gas volume utilized for the operation. Just to follow up, on the JV, if you compare quarter and quarter, actually it dropped quite significantly also from MYR 61 million to MYR 14 million. Is it? JV, yeah. Yeah. So JV as shared on a quarterly basis compared to third quarter. Sorry? Compared to third quarter, yeah. Third quarter and fourth quarter. Yeah. Oh, okay. Because in the fourth quarter of 2024, one of the JVs also, we had what we call some refinancing exercise where we actually had to early settle off one of the loans. So we incurred some premium on the buyback, but the intention is to actually refinance that to secure lower interest in the market. So it's also one-off thing. Oh, so last year, last quarter, MYR 61 million, that was because of one-off on the some assets corporate exercise in one of the JV. Yes. So we are looking at a running rate of MYR 15 million per quarter. That is a healthy rate, is it? Or so-called MYR 60 million per quarter, that is a healthy rate? Sorry, MYR 60 million per annum is a healthy rate, is it? For the whole year. For the whole year. For the share of profit. Yeah. Okay. It depends how you define healthy. But I think you're right. I think more or less around that level. But you also, as mentioned by Encik Aziz, you also said working on a few more growth projects under JV. So we expect that to be still or at least slightly better than that. Contribution. Yeah, I agree. Contribution from JV. Yeah. I see. Okay, on the GPA incentive, MYR 100 million for this year. Last year was MYR 128 million, was it? Last year, sorry, I mentioned close to MYR 100. Yep. Last year was MYR 128. Oh, sorry, my bad. This year was close to MYR 150. MYR 150. Sorry, sorry. Yeah. Okay. I see. Okay. That sounds more convincing. That's all from me for now. Thank you. Okay. Thank you, Daniel. Any other one? Next one, we have who is that here? No one? Okay. There's another hand. Second. Daniel. Another hand there. Who is it? Max? Max. Okay. Hi, Max. Hi. Can you hear me? Yes. Okay, great. Yeah. Two questions for me. Can I check with you how much is the contribution coming in from NEDA for your, yeah, for the year and so maybe for the full year? Yeah. Is that the number? Can I get back to you on that? I'm checking the number now. Yeah. Maybe we can move to the next question. Yeah. Yeah. Okay, sure. All right. Also, maybe the second question is that also kind of a bit related. Of course, you did mention that you do expect maybe sort of an increase in demand of gas given that obviously now I think a lot of demand is coming from data centers. So I think you also need more gas to help support the base load for, let's say, for the energy sector. Can I get a sense because obviously these are what I have across the board of all the different segments? Do you have sort of a long-term or maybe an outlook in terms of what sort of gas demand growth you're looking at, let's say, over the next few years or so? And also, of course, this will help to inform in terms of what sort of KPIs you need to put in. Yeah. Maybe just what's your expectations and gas demand? I'm not sure whether we have the accurate number, but based on the government projection for the power itself, because all this is coming from the power requirement. So the government has published a lower bound and upper bound demand. What they are telling us is that from today to 2040, the demand could be double, yeah, in terms of electricity. So even if gas share is 40% of that, that's almost double what is the gas demand for power sector that we are seeing today. Yeah. So those are the contexts that I can give. Yeah. Okay. Okay. Great. Yeah. So maybe just a follow-up to NEDA once you come back with the number. Of course, I think the NEDA demand has also grown. I guess, of course, that's just more power supply. So also with that, also maybe what's the expectations? Do you expect more NEDA contribution coming in this year as well? God willing. I mean, NEDA always works on marginal cost into the grid. So if our gas, the gas price is super, then you can expect a higher injection into the grid because our cost will be lower compared to the marginal price that the grid is setting. Yeah. So it works on that dynamics. And we mentioned just now, we expect the gas price to be weakening. So let's hope that it provides us with that opportunity. Okay. Great. Yep. That's all for me. Yeah, sorry. The contribution from NEDA for the year is MYR 24 million. MYR 24 million for the full year. Yeah. Okay. Do you have the number for last year as well for 2023? 2023. If not mistaken, lower because the gas price was higher at that time. So we couldn't beat the system marginal price because the input cost is higher. Clear, Max? Yep. That's clear. Thank you so much. Thanks, Max. Next, on the line, we have Darmini. Thanks, Suri. I just have a follow-up question on the ITA tax allowance that was recognized during the quarter. What was the quantum? That's my first question. And the second one is just a clarification on the associates and JV's contribution. I think you mentioned earlier on a Q&A, it was lower due to a refinancing exercise. Was that conducted in the fourth quarter, or was it in the third quarter where you incurred some premium? Okay. I'll say the second question first. It was incurred in the fourth quarter. Okay. Got it. And is there a rough estimate as to what the premium was? It's an estimate of MYR 15 million-MYR 20 million about, right? You mean the premium on? The premium that you incurred because that dragged the overall profits for the associates, right? Yeah. I think the buyback is close to MYR 0.50 premium that we have to incur. Yeah. So on an absolute basis, what was the additional cost? Slightly over than including the operational cost that we have to incur for the corporate exercise. It's slightly more than MYR 10 million. Slightly more than MYR 10 million. The premium plus the corporate expenditure that we incur for the exercise. Yeah. Yeah. Okay. Noted. Thank you. On the ITA, the amount that we recognized in this year's tax expenditure is close to MYR 40 million. MYR 40 million. And this was all recognized in the fourth quarter, right? Yes. Yes. Yes. Okay. Great. Thank you very much. Very clear. Is there a follow-up question from Daniel there? Hi. Yes. There are follow-up questions. Okay. I'm coming back on the JV associate contribution. You mentioned that MYR 15 million is a healthy level kind of thing. But when I look into your breakdown, you own about 20% of Gas Malaysia. So you recognize 20% of their profit. They are easily making MYR 400 million per annum. Means you're going to recognize MYR 18 million per annum from that alone. So are you saying that the other JVs are loss-making? No. We We don't own 30%. 20%? No, no. We only own 14% of Gas Malaysia. [audio distortion] only 14%. 14%. So So it's under investment level. Yes. Yeah. Oh. Okay. Okay. I see. Okay. I understand. Yeah. Okay. I have four questions. Other questions as well. Firstly, it's on the plan, on the gas demand. Okay. We understand that the gas demand may double based on government projections. Can I check what's the current utilization of the regasification plant in Sungai Udang and Pengerang? I think on average for the two, slightly below 60%. Below 60%. Yeah. Based on this so-called government projection running rate on this, when do you expect that Malaysia will need another RGT? Well, I suppose within the next three or four years. Because if you see our regas is 60%, so we expect within one or two years, it's fully utilized. I see. So planning stage will need to come in by another one or two years? Planning is today. Or planning is always today. Yeah. Because to build a regas, you talk about three, four years. I see. Full utilization next year. Next year. Okay. And I think it's on the utility plant, your power generation, your steam plant, all this. How old are these plants actually now, by now, by today? And when do you see there will be major maintenance effects or maybe there will be need to so-called decommission this plant and then build a new plant? Okay. The plant is slightly above 20 years. You're talking about utilities plant, huh? Correct. So what we are doing is actually rejuvenate the plant. Because if you recall, two years ago, we renewed the contract with the customers for another 20 years. So our plan is not replacement, but rejuvenation to sustain at least for another 20 years. Okay. This rejuvenation will start to come in. When will we start this rejuvenation effects on this? Progressively because a big chunk of the CapEx will be on the COGEN. COGEN works on running hours. So we have lined up the next four or five years based on running hours. Next four to five years. How much rejuvenation effects are we looking at per annum basis for the next four to five years? I mean, our maintenance CapEx, as we mentioned, still within MYR 800 million-MYR 900 million range. That will not change. Yeah. If some years we have more, maybe slightly more for that year. But that's the range that we are looking at. Maintenance CapEx MYR 800 million-MYR 900 million for the year? For the whole group, huh? For the whole group? For the group. Oh, for the group. Yeah. Yeah. For the group. That includes the rejuvenation CapEx for the plants as well? All including. I see. Okay. Another question. On the base tariff, government also Tenaga expected to raise the base tariff rate in the second half of 2023. How will it actually affect Petronas Gas utility pricing? We expect positive impact because as you recall, if you recall, our electricity are sold back to TNB tariff. So any increase is good news for us. I see. That sounds good. Back to TNB tariff. Yeah. Daniel? Yeah. We have one more person online here. I will excuse myself. Thank you. Thank you. Thank you. [Foreign language] I think I missed your name. Your name didn't appear here. Sorry. Hi. Hi. No worries. Just a few quick questions from me. Thanks for having my question. So first is just follow-up question by Daniel. You mentioned renew the contract with utility site, renew contract with customer for 30 years. Can I know when does the contract expire? I mean, 2021, 2022, because there's quite a few contracts. The renewal was from 2021 to 2022. So 20 years is 2041, 2042. Okay. Okay. Sure. Sure. Thank you. Then another question is regarding the other expenses, right? It surged to significantly both QOQ and year- on- year. Can I know why the other expenses was like MYR 41 million for this quarter? Hold on. For fully or for quarter. [audio distortion]. For the quarter, it's significantly higher than quarter. Yeah [audio distortion]. Okay. If I remember, as said, 30th September, Ringgit was so strong at 4.1 that we actually recognized some underlying foreign gain to some of our dollar liabilities. And at the end of quarter four, Ringgit weakened again at 4.46. So we had to reverse the underlying gain that we recorded in quarter three in quarter four. That's why there's such huge movement on other expenses. It was again in quarter three. And because Ringgit weakened again in quarter four, we had to reverse that gain in quarter four. Yeah. Yeah. Yeah. Yeah. That's correct. Sure. Sure. Sure. Okay. And also, just another question is about the regasification chart, right? Because this is under the incentive-based regulation. So I noticed that the gross profit was down both more than 10% QOQ year- on- year. So can I know what's the reason? Because I'm expecting the regasification site under IBR should be more or less stable, their profit. I think the tariff has always been decided on a three-year period. Normally, you get good profit, higher profit during the first year. But as the cost goes up, then you see a lower profit in the subsequent years. So that's how the tariff works. What we want to do to sustain is controlling our costs. As I keep mentioning in my presentation, that will be one of the focus areas that we're working on. Okay. So mainly it's because the cost is going up. That's why the margins are not okay. Yep. Okay. Okay. Last question for me. Can I know there's a MYR 12 million inventory impairment loss? Can I know what sort of inventory impairment loss is this? I think back in 2020, we actually come up with a program to optimize our inventory level. So we actually identified what we call as non-moving, non-critical inventories that we probably can further optimize. And I think we had a five-year roadmap to reduce the non-moving, non-critical level of the inventory. And this year, we have taken up to P&L about MYR 12 million to make sure that we just keep what we needed for the operation. So yeah, that's why we have that MYR 12 million in 2024. Okay. So there will be more in the future or is this the last? I mentioned we started in 2021. So 2024 is the final year for us to do the cleanup. And we don't anticipate to incur such a huge amount of inventory write-off in the coming years. Yeah. Okay. Okay. Sure. We're done with the cleanup. Yeah. Sure. Sure. Sure. Thank you so much. Okay. Thank you. I think we have a few minutes left. Maybe I can allow one more question if anyone has any. Daniel? Daniel? Last one, Daniel. Yes. Last one. Okay. Again, Gas Malaysia, I read through your annual report, you own 14.8%. But you're still equity accounted. Yes. Yes. 14.8% times the MYR 400 million, you're getting more than MYR 60 million. Around MYR 60 million. That means other JVs are not making money, is it? You're talking about for full year 2024, right? Yeah. Full year. Full year. Yep. So I'm asking about your recent quarter MYR 15 million associate, JV contribution and associate contribution MYR 15 million. Why has it dropped to MYR 15 million only? It means if I look through the accounts in Gas Malaysia, they make about MYR 101 million. You recognize about 14.8% you already recognize the MYR 15 million. That means all your other JVs are not making money or break even at level. So as mentioned earlier, in quarter four, there's this corporate exercise undertaken by one of the JV. Oh. This quarter four? Not at this? Yes. I see. I see. How much was the impact? I mentioned that it's slightly above MYR 10 million. Yeah. MYR 10 million only. Slightly above MYR 10 million. Yeah. I see. I see. Okay.