Excel Force MSC Berhad Annual Report 2016

EXCEL FORCE MSC BERHAD ANNUAL REPORT 2016 52 Group Company 2016 2015 2016 2015 Note RM RM RM RM CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax 6,974,507 9,652,925 7,426,187 9,650,551 Adjustments for: Amortisation of product development costs 8 1,773,670 1,429,000 1,352,853 1,055,332 Depreciation of property, plant and equipment 7 1,280,898 1,503,938 1,214,076 1,414,515 Gain on disposal of subsidiaries 33 (68,938) - (46,738) - Impairment loss on trade receivables 12(e) 16,117 - - - Interest expense on hire purchase and finance lease liabilities 23 - 597 - 597 Interest income from: - deposits with licensed banks (1,453) (4,156) (1,453) (1,036) - short term funds (468,573) (347,427) (455,944) (338,794) - amount owing by a subsidiary - - (102,391) (105,744) Net gain on disposal of property, plant and equipment (22,669) (21,676) (22,669) (22,098) Property, plant and equipment written off 7 96,282 1,468 96,282 70 Unrealised gain on foreign exchange (34,204) (64,783) (34,204) (64,783) Operating profit before changes in working capital 9,545,637 12,149,886 9,425,999 11,588,610 Decrease/(Increase) in inventories 53,148 (14,910) 53,148 (14,910) Decrease/(Increase) in trade and other receivables 3,510,101 (968,078) 4,001,326 (943,628) (Decrease)/Increase in trade and other payables (308,302) 174,799 (577,451) (367,331) Cash generated from operations 12,800,584 11,341,697 12,903,022 10,262,741 Tax paid (2,238,605) (2,117,543) (2,233,040) (2,094,952) Net cash from operating activities 10,561,979 9,224,154 10,669,982 8,167,789 Statements of Cash Flows for the Financial Year Ended 31 December 2016