EXCEL FORCE MSC BERHAD 55 Group Company 2021 2020 2021 2020 RM RM RM RM Operating activities Profit before tax 16,885,529 14,174,969 17,148,015 13,814,830 Adjustments for: Amortisation of product development costs 2,710,519 2,523,242 2,319,300 2,103,308 Depreciation of: - property, plant and equipment 754,047 652,101 688,276 643,406 - right-of-use assets 344,187 369,400 344,187 369,400 Finance cost 29,875 9,182 29,875 9,182 Goodwill written off - 123,505 - - (Gain)/Loss on disposal of property, plant and equipment (124,857) 1 (124,857) 1 Property, plant and equipment written off 806 - 774 - Provision of loss claim 600,000 1,000,000 600,000 1,000,000 Unrealised (gain)/loss on foreign exchange (9,181) 7,550 (9,181) 7,550 Dividend income - - (470,000) - Interest income from: - deposits with licensed banks (50,101) (44,614) (39,443) (27,754) - short-term funds (64,999) (1,036,408) (64,999) (1,036,408) - amount due from a subsidiary company - - - (49,531) Reversal of impairment losses on trade receivables (109,416) (15,040) (108,573) (3,567) Waiver of amount due from a subsidiary company - - 285,370 - Operating profit before working capital changes 20,966,409 17,763,888 20,598,744 16,830,417 Changes in working capital: Inventories (6,520) - (6,520) - Trade and other receivables 6,053,133 (226,138) 6,036,719 (348,813) Trade and other payables (1,222,573) 1,425,048 (1,281,437) 1,524,703 Contract liabilities 949,132 239,841 992,210 250,496 Amount due from subsidiary companies - - (2,526,587) (143,629) 5,773,172 1,438,751 3,214,385 1,282,757 Cash generated from operations 26,739,581 19,202,639 23,813,129 18,113,174 Dividend received - - 470,000 - Interest paid (29,875) (9,182) (29,875) (9,182) Tax paid (5,636,270) (2,295,427) (5,574,224) (2,290,948) Net cash from operating activities 21,073,436 16,898,030 18,679,030 15,813,044 Statements of Cash Flows For the Financial Year Ended 31 December 2021
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