No Split ... looking at the SYQ business standalone .... forget about PLL for this Margin exercise.
The noting of SYA portion was merely to note their "share" of the operating profit (not knowing what SYQ balance sheet looks like). What SYQ decides to do with that cashflow (reinvest in the business by funding a refinery, pay a dividend to shareholders (i.e. SYA and PLL), buy another business, ....) is another thing.
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