78 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2022 Group Company 2022 2021 2022 2021 Note RM RM RM RM CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation 40,565,499 40,684,004 37,357,766 19,490,231 Adjustments for: Amortisation of: - intangible assets 14 264,671 264,672 26,247 26,248 - contract liabilities 29(b) (16,730,500) (12,885,360) (1,627,204) (1,749,039) Bad debts written off 6 118,678 171,179 - 162 Depreciation of property, plant and equipment 12 26,091,489 29,255,304 1,361,206 1,302,447 Dividend income 6 - - (38,000,000) (8,000,000) Impairment losses on: - property, plant and equipment 12(d) - 636,829 - - - trade and other receivables 3,971,935 5,985,713 - 2,109,426 - investments in subsidiaries 16(i) - - - 1,130,536 Fair value loss on other investment 6, 21(g) 301,153 641,777 281,876 582,668 Interest expense 1,378,181 2,125,818 545,153 1,040,093 Interest income (2,181,126) (3,275,439) (2,000,798) (2,309,176) Inventories written off 19(d) 93,884 168,302 - - Inventories written back 19(e) (1,042,266) (1,265,912) - - Loss/(Gain) on disposal of property, plant and equipment 896,170 546,974 (1,032) - Gain on disposal of investment in an associate 6 (1,468,950) - - - Gain on derecognition of right-of-use assets upon early settlement 6 (3,603) - - - Gain on lease termination 6 (33,958) (111,128) - (664) Loss on disposal of other investments 6 - 271,893 - 271,893 Unrealised (gain)/loss on foreign exchange, net 6 (8,436) 86,812 (16,145) (88,177) Property, plant and equipment written off 12 336,214 20,467 448 - Reversal of inventories written down 19(g) (57,216) (1,570) - - Reversal of impairment losses on: - trade and other receivables (2,270,909) (4,302,973) (99,143) (16,476,289) - investments in subsidiaries 16(i) - - (1,627,185) - - investment in associates 17(h) - (31,206) - - Share of (gain)/loss of an associate 17(g) (2,304) 320,060 - - Operating profit/(loss) before changes in working capital 50,218,606 59,306,216 (3,798,811) (2,669,641) STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022
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