150 WE ARE KENANGA LEADERSHIP MESSAGE VALUE CREATION MODEL KENANGA INVESTMENT BANK BERHAD ANNUAL REPORT 2023 STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 Note Group Bank 2023 RM'000 2022 RM'000 2023 RM'000 2022 RM'000 Cash flows from operating activities Profit before taxation and zakat 88,110 74,150 58,696 58,290 Adjustments for: Depreciation of property, plant and equipment 34 11,182 11,472 9,869 10,487 Amortisation of intangible assets - software licence and client relationships 34 7,654 6,462 6,185 5,508 Amortisation of right-of-use assets 34 8,640 8,039 6,672 6,660 Lease interest expenses 32 475 894 879 743 ESS (reversal)/expense 34 (265) 326 (265) 326 Credit loss expense/(reversal) 35 5,526 3,923 5 (2,551) Property, plant and equipment written-off 34 8 911 2 902 Computer software work-in- progress written-off 34 32 608 32 608 Impairment allowance on intangible assets 34 195 - 195 - Fixed assets expensed off 24 2,971 - 1,708 Bad debts written-off 36 6 - - - Gain on disposal of a subsidiary 33(c) (1,509) - - - Gain on disposal of an associate 33(c) - (9,117) - - Gross dividend income from investments 33(b) (1,419) (1,527) (57,500) (60,492) Gain on disposal of property, plant and equipment 33(c) (2) (111) (3) (93) Net gain from sale of financial assets at fair value through profit or loss and derivatives (60,776) (23,675) (59,286) (23,667) Net gain from sale of financial instruments at FVOCI (22) (25) (22) (25) Share of results of associates and joint ventures (6,268) (852) - - Unrealised loss on revaluation of financial assets at fair value through profit or loss and derivatives 33(b) 4,434 8,954 7,108 10,454 Operating gain/(loss) before working capital changes 56,025 83,403 (27,433) 8,858 (Increase)/decrease in operating assets: Loans, advances and financing (8,048) 87,383 (4,864) 50,169 Other assets (31,738) 48,680 (70,281) 10,962 Statutory deposit with Bank Negara Malaysia (2,217) (7,535) (2,217) (7,535) Balances due from clients and brokers (143,232) (93,154) (143,314) (93,088) Trust monies and deposits 5 (624) (14,143) (907) 33,914 Increase/(decrease) in operating liabilities: Other liabilities 70,102 (206,149) 13,391 (135,360) Balances due to clients and brokers 42,306 66,741 81,743 (2,320) Deposits from customers 449,517 23,800 465,409 48,705 Deposits and placements of banks and other financial institutions (83,556) (237,503) (83,556) (237,503) Obligations on securities sold under repurchase agreements 97,232 - 97,232 - Cash generated from/(used in) operations 445,767 (248,477) 325,203 (323,198) Net income tax and zakat paid (9,931) (30,200) (8) (11,394) Rental/lease payment (interest) 27 (475) (894) (879) (743) Net cash generated from/(used in) operating activities 435,361 (279,571) 324,316 (335,335) The accompanying notes form an integral part of these financial statements.
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