81 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2021 Group Company 2021 2020 2021 2020 Note RM RM RM RM CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation - continuing operations 40,684,004 21,319,771 19,490,231 5,037,487 - discontinued operation - (2,103,799) - - 40,684,004 19,215,972 19,490,231 5,037,487 Adjustments for: Amortisation of: - intangible assets 14 264,672 264,671 26,248 26,248 - contract liabilities 29(b) (12,885,360) (5,660,772) (1,749,039) (1,105,635) Bad debts written off 6 171,179 2,284,555 162 913,853 Depreciation of property, plant and equipment 12 29,255,304 32,078,675 1,302,447 1,418,565 Dividend income 6 - - (8,000,000) (9,000,000) Impairment losses on: - property, plant and equipment 12(d) 636,829 3,827,865 - - - trade and other receivables 5,985,713 8,450,446 2,109,426 7,047,192 - investments in subsidiaries 16(j) - - 1,130,536 23,455 - investment in associates 17(h) - 317,756 - - - goodwill 15 - 11,332,252 - - Fair value loss on other investment 6, 21(g) 641,777 95,896 582,668 110,132 Fair value loss on contingent consideration 26(f) - 6,140,942 - - Interest expense 2,125,818 2,065,181 1,040,093 8,132 Interest income (3,275,439) (3,058,665) (2,309,176) (1,538,990) Inventories written off 19(d) 168,302 1,353,402 - - Inventories written back 19(e) (1,265,912) - - - Loss/(Gain) on disposal of property, plant and equipment 6 546,974 (605,159) - 111,726 Gain on disposal of a subsidiary 16(e) - (480,500) - - Gain on reassessment of right-of-use assets 6 - (834) - (834) Gain on lease termination 6 (111,128) - (664) - Loss/(Gain) on disposal of other investments 6 271,893 (387,963) 271,893 (320,425) Unrealised loss/(gain) on foreign exchange, net 6 86,812 117,689 (88,177) 1,701,687 Property, plant and equipment written off 12 20,467 328,649 - 9,546 Reversal of trade and other receivables (8,263,295) (9,495,519) (16,476,289) (8,819,987) Reversal of inventories written down 19(g) (1,570) - - - Reversal of impairment loss on investment in associate 17(h) (31,206) - - - Share options granted under ESS 7 - 287,229 - 107,568 Share of loss of an associate 17(g) 320,060 147,601 - - Operating profit/(loss) before changes in working capital 55,345,894 68,619,369 (2,669,641) (4,270,280) STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
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