EXCEL FORCE MSC BERHAD Annual Report 2018

54 ANNUAL REPORT 2018 Group Company 2018 2017 2018 2017 Note RM RM RM RM Cash flows from operating activities Profit before tax 7,934,907 8,112,518 7,717,522 8,012,691 Adjustments for: Amortisation of product development costs 2,103,599 2,060,831 1,581,267 1,489,032 Depreciation of property, plant equipment 826,610 968,452 815,346 949,317 (Gain)/Loss on disposal of: - property, plant and equipment (21,998) 30,610 (22,207) 30,610 - assets held for sale (2,283,796) - (2,283,796) - Impairment losses on trade receivables 101,949 12,208 80,641 - Reversal of impairment losses on trade receivables (17,657) - - - Interest income from: - deposits with licensed banks (43,389) (30,513) (36,923) (30,513) - short term funds (769,945) (531,957) (769,945) (531,957) - amount due from subsidiary companies - - (90,672) (88,429) Property, plant and equipment written off 162,538 - 162,538 - Unrealised (gain)/loss on foreign exchange (4,395) 89,134 (4,395) 89,134 Operating profit before working capital changes 7,988,423 10,711,283 7,149,376 9,919,885 Changes in working capital: Inventories (19,468) 489 (19,468) 489 Trade and other receivables (1,117,215) (1,727,334) (1,329,459) (1,513,167) Trade and other payables 7,908,019 1,015,839 7,884,860 997,141 Contract liabilities 265,916 39,653 210,439 (462) Amount due from subsidiary companies - - (63,217) (6,343) 7,037,252 (671,353) 6,683,155 (522,342) Cash generated from operations 15,025,675 10,039,930 13,832,531 9,397,543 Tax paid (1,567,778) (1,626,618) (1,566,578) (1,625,776) Net cash from operating activities 13,457,897 8,413,312 12,265,953 7,771,767 Statements Of Cash Flows For The Financial Year Ended 31 December 2018