NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 332 WE ARE KENANGA LEADERSHIP MESSAGE VALUE CREATION MODEL KENANGA INVESTMENT BANK BERHAD ANNUAL REPORT 2023 53. OPERATIONS OF ISLAMIC BANKING (CONT’D.) (c) Statements of cash flows For the financial year ended 31 December 2023 Group and Bank 2023 RM’000 2022 RM’000 Cash flows from operating activities Profit before taxation and zakat 16,570 11,296 Adjustments for: Depreciation of plant and equipment (Note 53(p)(ii)) 3 6 Amortisation of intangible assets (Note 53(p)(ii)) 1 1 Credit loss expense 91 87 Realised loss from sale of financial assets at FVTPL (Note 53(m)) 182 - Realised loss from sale of financial investments at FVOCI (Note 53(m)) 1 - Operating profit before working capital changes 16,848 11,390 Changes in operating assets: Financing and advances (42,125) 6,040 Balances due from clients and brokers (532) 647 Other assets (3,978) 771 Changes in operating liabilities: Deposits from customers (131,325) (82,235) Deposits and placements of banks and other financial institutions 10,000 - Balances due to clients and brokers 883 (2,887) Other liabilities 241,487 (45,982) Cash generated from/(used in) operating activities 91,258 (112,256) Taxation and zakat paid (291) (340) Net cash generated from/(used in) operating activities 90,967 (112,596) Cash flows from investing activity Net (purchase)/sales of securities, representing net cash flows (used in)/generated from investing activity (187,056) 126,360 Net change in cash and cash equivalents (96,089) 13,764 Cash and cash equivalents at beginning of the financial year 438,476 424,712 Cash and cash equivalents at end of the financial year 342,387 438,476
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