Group Company Note 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 (Restated) Share of (profits)/losses of associates, net of tax 11 (518) 345 - - Share of profit of a joint venture, net of tax 12 (490) (335) - - Profits upon disposal of a subsidiary - (3,584) - - Net unrealised loss on foreign exchange (97) (332) (275) (552) Operating profit/(loss) before changes in working capital 35,092 4,305 (2,524) (3,330) Change in inventories 2,663 (2,250) - - Change in bank balances held on behalf of clients 12,360 (19,379) - - Change in trade and other receivables (17,881) 19,445 (1) 1 Change in contract assets (15,007) (2,105) - - Change in trade and other payables (8,357) (42,650) 37 (574) Change in contract liabilities (1,037) 6,751 - - Cash generated from/(used in) operations 7,833 (35,883) (2,488) (3,903) Tax refunded 330 1,872 - 1 Tax paid (3,882) (2,347) (114) (1) Net cash from/(used in) operating activities 4,281 (36,358) (2,602) (3,903) CASH FLOWS FROM INVESTING ACTIVITIES Purchase of: - property, plant and equipment 7 (3,222) (1,721) - - - right-of-use assets 8(c) (9) (3,759) - - - intangible assets 9 - (7) - - Advances to subsidiaries - - (486) (17,901) Repayment (to)/from a joint venture (1) 20 - - Repayment from/(Advances to) associates 6,095 (1,128) - - Dividends received from a joint venture 12 1,035 - - - Interest received 622 707 - 2 Proceeds from disposals of property, plant and equipment 205 60 - - Proceeds from disposal of an associate 94 - - - Net cash outflow from acquisition of subsidiaries 10(a) - (2,499) - - Net cash (outflow)/inflow from disposal of subsidiaries 10(c) (7,770) 9,458 - - STATEMENTS OF CASH FLOWS P R G H O L D I N G S B E R H A D A N N U A L R E P O R T 2 0 2 1 86 For the financial year ended 31 December 2021 (cont’d)
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