EXCEL FORCE MSC BERHAD Annual Report 2019

EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2019 48 Group Company 2019 2018 2019 2018 Note RM RM RM RM ASSETS Non-current assets Property, plant and equipement 4 2,490,779 2,746,844 2,488,082 2,741,184 Capital work-in-progress 5 - 8,384,910 - 8,384,910 Right-of-use assets 6 20,096,917 - 20,096,917 - Product development costs 7 11,318,098 11,090,012 10,235,455 9,719,169 Intangible assets 8 - - - - Investment in subsidiary companies 9 - - 500,003 500,003 Other investments 10 13,703,850 - 13,703,850 - Amount due from a subsidiary company 11 - - - 704,005 47,609,644 22,221,766 47,024,307 22,049,271 Current assets Inventories 12 23,992 45,328 23,992 45,328 Trade receivables 13 5,348,287 5,226,119 5,142,026 5,038,996 Other receivables 14 25,658,592 1,413,155 25,639,761 1,393,236 Amount due from subsidiary companies 11 - - 763,909 485,561 Tax recoverable 3,840 3,710 - 3,660 Deposits, bank and cash balances and short-term funds 15 22,789,063 29,812,581 21,729,766 29,013,216 53,823,774 36,500,893 53,299,454 35,979,997 Total assets 101,433,418 58,722,659 100,323,761 58,029,268 EQUITY Share capital 16 89,303,150 20,998,365 89,303,150 20,998,365 Reserves 17 26,606,333 26,203,684 26,430,525 26,302,567 Treasury shares 18 (19,440,808) - (19,440,808) - Total Equity 96,468,675 47,202,049 96,292,867 47,300,932 LIABILITIES Current liabilities Trade payables 20 746,293 265,867 720,233 241,681 Other payables 21 2,353,750 10,184,788 2,258,432 10,105,531 Contract liabilities 22 1,385,993 1,069,955 573,522 381,124 Lease liabilities 23 353,091 - 353,091 - Tax payable 125,616 - 125,616 - 4,964,743 11,520,610 4,030,894 10,728,336 Total liabilities 4,964,743 11,520,610 4,030,894 10,728,336 Total equity and liabilities 101,433,418 58,722,659 100,323,761 58,029,268 statements of financial position as at 31 december 2019 The accompanying notes form an integral part of the financial statements.