KENANGA INVESTMENT BANK BERHAD INTEGRATED ANNUAL REPORT 2024 WE ARE KENANGA OUR SUSTAINABILITY APPROACH LEADERSHIP STATEMENT HOW WE ARE GOVERNED OUR VALUE CREATION APPROACH FINANCIAL STATEMENTS SHAREHOLDERS’ INFORMATION ADDITIONAL INFORMATION 165 164 STATEMENT OF CHANGES IN EQUITY FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 (CONT’D.) Bank Non-distributable Ordinary shares (Note 28) RM’000 Regulatory reserve (Note 29) RM’000 Capital reserve (Note 29) RM’000 Fair value reserve (Note 29) RM’000 ESS reserve (Note 29) RM’000 Treasury shares (Note 28) RM’000 Retained profits (Note 29) RM’000 Total equity RM’000 At 1 January 2023 253,834 17,192 153,863 (6,422) 1,794 (13,538) 597,058 1,003,781 Net profit for the financial year - - - - - - 54,912 54,912 Other comprehensive income - - - 9,278 - - - 9,278 Total comprehensive income for the financial year - - - 9,278 - - 54,912 64,190 Share-based payment under ESS scheme - - - - (263) - - (263) Transfer of shares pursuant to exercise of ESS - - - - - 1,799 (701) 1,098 Transfer to regulatory reserve - (1,128) - - - - 1,128 - Transfer to retained profits - - - - (214) - 214 - Dividend paid (Note 46) - - - - - - (43,587) (43,587) At 31 December 2023 253,834 16,064 153,863 2,856 1,317 (11,739) 609,024 1,025,219 The accompanying notes form an integral part of these financial statements. STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 Note Group Bank 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Cash flows from operating activities Profit before taxation and zakat 117,249 88,110 85,212 58,696 Adjustments for: Depreciation of property, plant and equipment 34 10,925 11,182 9,209 9,869 Amortisation of intangible assets - software licence and client relationships 34 9,086 7,654 7,082 6,185 Amortisation of right-of-use assets 34 8,054 8,640 6,432 6,672 Lease interest expenses 32 1,344 475 1,011 879 ESS reversal 34 (319) (265) (319) (265) Credit loss expense 35 54,277 5,526 29,754 5 Property, plant and equipment and computer software written-off 34 51 40 16 34 Impairment allowance on intangible assets 34 - 195 - 195 Fixed assets expensed off 10 24 - - Bad debts written-off 36 4 6 - - Gain on disposal of a subsidiary 33(c) - (1,509) - - (Gain)/loss on disposal of a joint venture 33(c) (479) - 2,360 - Gross dividend income from investments 33(b) (3,503) (1,419) (45,493) (57,500) Gain on disposal of property, plant and equipment 33(c) - (2) - (3) Net gain from sale of financial assets at fair value through profit or loss and derivatives (33,485) (60,776) (30,875) (59,286) Net gain from sale of financial instruments at FVOCI (4,195) (22) (4,195) (22) Net (gain)/loss on derecognition of right-of-use assets and lease liabilities 18 & 27 (79) - 70 - Share of results of associates and joint ventures (10,649) (6,268) - - Unrealised (gain)/loss on revaluation of financial assets at fair value through profit or loss and derivatives 33(b) (89,048) 4,434 (90,950) 7,108 Operating profit/(loss) before working capital changes 59,243 56,025 (30,686) (27,433) (Increase)/decrease in operating assets: Loans, advances and financing (118,582) (8,048) (119,511) (4,864) Other assets (291,199) (31,738) (25,535) (70,281) Statutory deposit with Bank Negara Malaysia (13,148) (2,217) (13,148) (2,217) Balances due from clients and brokers 100,224 (143,232) 100,255 (143,314) Trust monies and deposits 5 (260,189) (624) 1,432 (907) Increase/(decrease) in operating liabilities: Other liabilities 229,255 70,102 76,022 13,391 Balances due to clients and brokers 237,423 42,306 15,914 81,743 Deposits from customers 151,999 449,517 140,102 465,409 Deposits and placements of banks and other financial institutions 398,032 (83,556) 398,032 (83,556) Obligations on securities sold under repurchase agreements (27,718) 97,232 (27,718) 97,232 Cash generated from operations 465,340 445,767 515,159 325,203 Net income tax and zakat paid (25,428) (9,931) (11,367) (8) Rental/lease payment (interest) 27 (1,344) (475) (1,011) (879) Net cash generated from operating activities 438,568 435,361 502,781 324,316
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