50 EXCEL FORCE MSC BERHAD Group Company 2021 2020 2021 2020 Note RM RM RM RM ASSETS Non-current assets Property, plant and equipment 4 2,173,354 2,524,661 1,918,075 2,221,618 Right-of-use assets 5 20,415,892 20,760,079 20,415,892 20,760,079 Product development costs 6 12,174,541 11,931,476 10,658,981 10,935,265 Intangible assets 7 - - - - Investment in subsidiary companies 8 - - 2,850,005 500,005 Other investments 9 17,801,700 13,042,200 17,801,700 13,042,200 52,565,487 48,258,416 53,644,653 47,459,167 Current assets Inventories 10 30,512 23,992 30,512 23,992 Trade receivables 11 3,191,388 5,847,912 3,115,431 5,670,613 Other receivables 12 22,119,265 25,405,881 22,091,187 25,463,574 Amount due from subsidiary companies 13 - - 48,286 157,069 Tax recoverable 37,026 - - - Deposits, cash and bank balances and short-term funds 14 32,356,372 22,853,401 30,151,875 22,125,361 57,734,563 54,131,186 55,437,291 53,440,609 Total assets 110,300,050 102,389,602 109,081,944 100,899,776 EQUITY Share capital 15 81,176,480 89,303,150 81,176,480 89,303,150 Reserves 16 19,948,479 31,117,006 20,253,447 30,589,584 Treasury shares 17 - (27,560,666) - (27,560,666) Equity attributable to owners of the parent 101,124,959 92,859,490 101,429,927 92,332,068 Non-controlling interests 545,090 - - - Total equity 101,670,049 92,859,490 101,429,927 92,332,068 Non-current liability Lease liabilities 18 327,067 672,117 327,067 672,117 327,067 672,117 327,067 672,117 LIABILITIES Current liabilities Trade payables 19 369,234 281,762 278,270 255,702 Other payables 20 4,671,943 5,381,988 4,543,661 5,247,666 Contract liabilities 21 2,574,966 1,625,834 1,816,228 824,018 Lease liabilities 18 345,050 333,200 345,050 333,200 Tax payable 341,741 1,235,211 341,741 1,235,005 8,302,934 8,857,995 7,324,950 7,895,591 Total liabilities 8,630,001 9,530,112 7,652,017 8,567,708 Total equity and liabilities 110,300,050 102,389,602 109,081,944 100,899,776 Statements of Financial Position As at 31 December 2021 The accompanying notes form an integral part of the financial statements.
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