Frontken Berhad Annual Report 2019

56 Frontken Corporation Berhad (651020-T) ANNUAL REPORT 2019 The Group The Company 2019 2018 2019 2018 RM RM RM RM CASH FLOWS FROM/(FOR) OPERATING ACTIVITIES Profit before tax 96,261,457 75,615,413 23,786,496 17,519,528 Adjustments for: Depreciation of property, plant and equipment 15,777,521 17,300,505 17,205 17,331 Depreciation of right-of-use assets 2,040,669 - 94,956 - Interest expense 755,525 568,006 9,480 56,109 Unrealised (gain)/loss on foreign exchange (81,588) (616,303) 20,673 190,487 Allowance for impairment losses on amount owing by subsidiaries - - - 1,242,999 Allowance for impairment losses on receivables - 932,838 - - Bad debt written off - 153,130 - - Gain on disposal of an associate - (672,207) - - Property, plant and equipment written off 35 10,678 - - Share of results in an associate - (78,115) - - Interest income (1,150,023) (917,220) (455,564) (549,987) Gain on disposal of property, plant and equipment (14,417) (164,099) - - Writeback of allowance for impairment losses on amount owing by subsidiaries - - (271,455) - Writeback of allowance for impairment losses on trade receivables (2,200) (10,000) - - Dividend income from subsidiaries - - (28,541,623) (23,527,968) Operating Profit/(Loss) Before Working Capital Changes 113,586,979 92,122,626 (5,339,832) (5,051,501) (Increase)/Decrease in: Inventories (1,274,623) (379,713) - - Trade receivables 20,924,616 (16,590,199) - - Other receivables and prepaid expenses (564,806) (1,492,450) (3,691) (27,867) Amount owing by an associate - 1,330,780 - - (Decrease)/Increase in: Trade payables (1,313,328) (826,277) - - Other payables and accrued expenses 3,319,226 3,376,361 503,145 1,190,933 Cash Generated From/(For) Operations 134,678,064 77,541,128 (4,840,378) (3,888,435) Taxes paid (19,777,287) (14,218,858) - - Net Cash From/(For) Operating Activities 114,900,777 63,322,270 (4,840,378) (3,888,435) The accompanying Notes form an integral part of these Financial Statements. Statements Of Cash Flows For The Financial Year Ended 31 December 2019