My EG Services Berhad Annual Report 2019

ANNUAL REPORT 2019 109 FINANCIAL STATEMENTS The Group The Company 1.10.2018 to 31.12.2019 1.7.2017 to 30.9.2018 1.10.2018 to 31.12.2019 1.7.2017 to 30.9.2018 RM’000 RM’000 RM’000 RM’000 (Restated) (Restated) CASH FLOWS FROM/(FOR) OPERATING ACTIVITIES Profit before taxation 306,939 128,473 268,354 106,293 Adjustments for:- Allowance for impairment loss on goodwill - 95 - - Amortisation of development costs 2,136 2,294 1,228 1,375 Bad debts written off 49 11 - - Depreciation of property and equipment 29,303 29,483 11,610 8,170 Depreciation of investment properties 817 345 2,899 2,526 Depreciation of right-of-use assets 7,280 - 1,000 - Equipment written off 558 493 534 421 Impairment losses: - trade receivables 33 41 - - - financing receivables 1,014 549 - - - investment in an associate - - 400 - - amount owing by an associate - 95,450 - 72,750 - equipment - 76,291 - 76,291 Interest expense on lease liabilities 659 - 67 - Interest expense 8,505 7,908 8,048 7,167 Inventories written down 31 1 - - Share of net loss on equity accounted associates 1,147 # - - Share of net loss on equity accounted joint ventures 1,398 720 - - Dividend income - - (300,000) (300,000) Gain on disposal of equipment (72) # - - Gain on partial disposal of an other investment (3,553) (1,198) - - Interest income (1,142) (3,123) (10,932) (716) Reversal of impairment loss on trade receivables (31) (43) - - Reversal of deferred income - (19,940) - - Reversal of inventories previously written down (52) - - - Unrealised (gain)/loss on foreign exchange (1) (120) 5 (127) Operating profit/(loss) before working capital changes/ Balance carried forward 355,018 317,730 (16,787) (25,850) # - represents an amount less than RM1,000 The annexed notes form an integral part of these financial statements. STATEMENTS OF CASH FLOW FOR THE FINANCIAL PERIOD ENDED 31 DECEMBER 2019