E X C E L F O R C E M S C B E R H A D • A N N U A L R E P O R T 2 0 1 4
44
STATEMENTS OF CASH FLOWS
for the Financial Year Ended 31 December 2014
Group
Company
2014
2013
2014
2013
Note
RM
RM
RM
RM
CASH FLOWS FROM OPERATING
ACTIVITIES
Profit before tax
10,325,410
9,289,328
9,813,302
9,410,765
Adjustments for:
Amortisation of:
- product development costs
8
996,119
969,880
778,826
810,942
- intangible assets
-
50,500
-
50,500
Depreciation of property, plant
and equipment
7
1,414,768
1,164,270
1,373,330
1,140,657
Fair value adjustments on loans
to a subsidiary
-
-
-
160,116
Impairment loss on trade receivables 13
-
49,600
-
49,600
Interest expense on:
- hire purchase and finance
lease liabilities
24
8,876
41,008
8,876
41,008
- term loan
24
916
-
916
-
Interest income from deposits
with licensed banks
(319,422)
(714,315)
(318,717)
(714,315)
Interest income from amount
owing by a subsidiary
-
-
(105,743)
(97,404)
(Gain)/Loss on disposal of property,
plant and equipment
(1,382,650)
3,774
(1,382,650)
3,774
Product development costs
written off
8
451,304
-
451,304
-
Property, plant and equipment
written off
7
1,622
1
1,449
1
Reversal of impairment loss on
trade receivables
13
-
(40,149)
-
(40,149)
Unrealised gain on foreign exchange
(28,668)
(35,985)
(28,668)
(35,985)
Operating profit before changes in
working capital
11,468,275
10,777,912
10,592,225
10,779,510
(Increase)/Decrease in inventories
(13,415)
5,220
(13,415)
5,220
(Increase)/Decrease in trade
and other receivables
(2,302,187)
1,946,506
(2,181,424)
2,065,104
(Decrease)/Increase in trade and
other payables
(92,026)
(2,459,808)
360,907
(2,571,669)
Increase in product development
costs
8
(2,574,798)
(2,033,168)
(1,792,927)
(1,411,741)
Cash generated from operations
6,485,849
8,236,662
6,965,366
8,866,424
Tax paid
(1,998,687)
(2,070,220)
(1,998,687)
(2,070,220)
Net cash from operating activities
4,487,162
6,166,442
4,966,679
6,796,204
