79 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 (Cont’d) Operating profit/(loss) before changes in working capital 50,218,606 59,306,216 (3,798,811) (2,669,641) (Increase)/Decrease in inventories (3,095,152) 9,994,295 - 103,399 (Increase)/Decrease in trade and other receivables (120,770,819) (8,689,480) 192,174 1,716,396 Increase in trade and other payables 45,496,270 24,725,855 1,048,109 468,865 Advance receipts for contract liabilities 29(b) 16,924,865 13,065,532 1,565,104 1,572,079 Increase in employee benefits obligations 28(e) 720,423 - - - Cash (used in)/generated from operations (10,505,807) 98,402,418 (993,424) 1,191,098 Dividends received - - 33,000,000 8,000,000 Interest received 2,181,126 3,275,439 1,217,328 2,309,176 Interest paid (1,152,882) (1,818,001) (536,070) (1,028,564) Tax paid (10,251,320) (11,861,159) (16,752) (29,568) Tax refunded 1,400,006 616,517 - - Net cash (used in)/from operating activities (18,328,877) 88,615,214 32,671,082 10,442,142 CASH FLOWS FROM INVESTING ACTIVITIES Purchases of property, plant and equipment 12(b) (42,284,818) (43,292,456) (1,256,863) (208,659) Acquisition of interests in other investment - (30,026,750) - (30,000,000) Proceeds from disposals of: - property, plant and equipment 965,612 978,145 1,042 - - other investments - 29,728,107 - 29,728,107 - investment in associate 17(e) 1,500,000 - - - Increase investment in an associate 17(f) - (317,600) - - Withdrawal/(Placement) in deposits pledged or maturity more than 3 months 1,172,246 (3,113,608) (33,080) (1,959,355) Advances to subsidiaries - - (52,930,769) (11,885,936) Net cash used in investing activities (38,646,960) (46,044,162) (54,219,670) (14,325,843) STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 CONT’D
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