Al-`Aqar Healthcare REIT Annual Report 2018

The Group The Fund 2018 2017 2018 2017 RM RM RM RM CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax 92,291,662 86,154,086 83,111,785 84,510,721 Adjustments for: Finance costs 31,578,782 27,956,928 31,578,782 27,956,928 Investment revenue (2,031,968) (2,272,257) (10,927,032) (11,167,321) Allowance for impairment loss in investment in subsidiaries - - 7,000,000 - Gain on fair value adjustment of investment properties (30,341,920) (24,791,923) (30,341,920) (24,534,840) Operating income before working capital changes 91,496,556 87,046,834 80,421,615 76,765,488 Changes in working capital: Trade receivables 3,066,012 5,937,413 (998,569) 9,484,500 Other receivables and prepaid expenses 842,920 (257,721) 849,385 (254,751) Other payables and accrued expenses (39,843,444) 142,959 (39,863,323) 161,753 Net Changes In Working Capital (35,934,512) 5,822,651 (40,012,507) 9,391,502 Cash Flows Generated From Operating Activities 55,562,044 92,869,485 40,409,108 86,156,990 Real Property Gain Tax refunded/(paid) 2,391,525 (3,000,000) 2,391,525 (3,000,000) Net Cash From Operating Activities 57,953,569 89,869,485 42,800,633 83,156,990 CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from disposal of investment properties - 100,000,000 - 100,000,000 Income received on investment 2,115,978 2,262,636 2,115,978 2,262,636 Profit sharing from advances to subsidiaries - - 889,507 3,585,896 Enhancement to investment properties (2,858,080) (506,160) (2,858,080) (506,160) Additions to investment properties (Note) - (13,139,000) - (13,139,000) Net Cash (Used In)/From Investing Activities (742,102) 88,617,476 147,405 92,203,372 CASH FLOWS FROM FINANCING ACTIVITIES Finance costs paid on Islamic financing (32,223,403) (30,238,338) (149,719) - Finance costs paid on amount due to a subsidiary - - (28,064,501) (29,058,057) Transaction costs paid (2,280,586) - (225,761) - Decrease in amount due to a subsidiary - - (2,896,177) (80,995,468) Income distributions (55,709,306) (54,981,088) (55,709,306) (54,981,088) Increase in restricted cash (665,782) (611,784) - - Proceeds from issuance of units 9,000,000 - 9,000,000 - Net proceeds/(repayment) from Islamic financing 29,900,000 (80,000,000) 29,900,000 - Net Cash Used In Financing Activities (51,979,077) (165,831,210) (48,145,464) (165,034,613) NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 5,232,390 12,655,751 (5,197,426) 10,325,749 Al-`Aqar Healthcare REIT • Annual Report 2018 102 STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018