My EG Services Berhad Annual Report 2020

MY E.G. SERVICES BERHAD Regisration No. 200001003034 (505639-K) 138 The Group The Company 1.1.2020 to 31.12.2020 1.10.2018 to 31.12.2019 1.1.2020 to 31.12.2020 1.10.2018 to 31.12.2019 RM’000 RM’000 RM’000 RM’000 CASH FLOWS FROM/(FOR) OPERATING ACTIVITIES Profit before taxation 268,958 306,939 276,794 268,354 Adjustments for:- Amortisation of development costs 5,056 2,136 2,438 1,228 Bad debts written off 8 49 - - Depreciation of property and equipment 23,752 29,303 11,279 11,610 Depreciation of investment properties 653 817 2,320 2,899 Depreciation of right-of-use assets 5,909 7,280 731 1,000 Equipment written off 142 558 - 534 Impairment losses: - trade receivables - 33 - - - financing receivables 602 1,014 - - - investment in an associate - - - 400 Interest expense on lease liabilities 304 659 24 67 Other interest expense 7,961 8,505 6,765 8,048 Inventories written down 69 31 - - Share of net loss on equity accounted: - associates 937 1,147 - - - joint ventures 699 1,398 - - Dividend income - - (300,000) (300,000) Gain on disposal of equipment (9) (72) - - Gain on disposal of right-of-use assets (110) - - - Gain on modification of leases (75) - (2) - Gain on partial disposal of an other investment - (3,553) - - Interest income (493) (1,142) (12,281) (10,932) Reversal of impairment loss: - trade receivables (2) (31) - - - other receivables (2) - - - - amount owing by associates (195) - (195) - Reversal of inventories previously written down (17) (52) - - Unrealised (gain)/loss on foreign exchange (56) (1) (4) 5 Operating profit/(loss) before working capital changes carried forward 314,091 355,018 (12,131) (16,787) The annexed notes form an intergral part of these financial statements. STATEMENTS OF CASH FLOWS For The Financial Year Ended 31 December 2020