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 167 166 STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 (CONT’D) Note Group Bank 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Cash flows from investing activities Capitalisation of subsidiaries 13 - - (17,000) - Sale proceeds from disposal of a subsidiary, net of cash - 3,649 - - Dividends received 3,503 1,419 13,493 57,500 Dividends received from an associate 3,547 2,080 - - Purchase of property, plant and equipment (12,696) (7,786) (9,783) (3,366) Purchase of intangible assets (23,241) (12,325) (11,966) (11,200) Proceeds from disposal of property, plant and equipment and intangible assets 6,769 24 6,760 21 Capital injection in a joint venture 15 - (6,516) - (6,516) Subscription of new share in an associate 14 (6,605) - (6,607) - Net purchase of securities (7,246) (591,268) (9,380) (592,759) Deposits with bank 5 - (100) - - Net cash used in investing activities (35,969) (610,823) (34,483) (556,320) Cash flows from financing activities Dividend paid 46 (50,756) (43,587) (50,756) (43,587) Rental/lease payments (principal) 27 (7,768) (8,546) (6,333) (6,612) Net drawdown/(repayment) of borrowings 9,000 (24,500) - (8,000) Share buy-back (576) - (576) - Proceeds from exercise of ESS 2,858 1,098 2,858 1,098 Net cash used in financing activities (47,242) (75,535) (54,807) (57,101) Net increase/(decrease) in cash and cash equivalents 355,357 (250,997) 413,491 (289,105) Cash and cash equivalents at beginning of financial year 949,650 1,200,647 885,705 1,174,810 Cash and cash equivalents at end of financial year 5 1,305,007 949,650 1,299,196 885,705 Cash and cash equivalents comprise of the followings (Note 5): Cash and balances with banks 1,892,493 1,376,248 1,192,036 878,937 Deposits and placements with banks and other financial institutions 205,566 106,265 194,750 95,790 Less: Monies and short-term deposits held in trust on behalf of dealers’ representatives (87,590) (89,022) (87,590) (89,022) Less: Monies and short-term deposits held in trust on behalf of funds’ clients (243,081) (67,481) - - Less: Segregated funds from customers (462,281) (376,260) - - Less: Deposits more than 3 months (100) (100) - - 1,305,007 949,650 1,299,196 885,705 The accompanying notes form an integral part of these financial statements. NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 1. CORPORATE INFORMATION The Bank is principally engaged in the investment banking business, provision of stockbroking and related financial services. The Bank is a public limited liability company incorporated and domiciled in Malaysia and is listed on the Main Market of Bursa Malaysia Securities Berhad. The registered office of the Bank is located at Level 17, Kenanga Tower, 237, Jalan Tun Razak, 50400 Kuala Lumpur, Wilayah Persekutuan. The principal activities of the subsidiaries and associates are as described in Note 13 and Note 14, respectively. There have been no significant changes to the nature of the principal activities during the financial year. The financial statements have been approved and authorised for issue in accordance with a resolution of the Board of Directors on 4 March 2025. 2. CHANGES IN ACCOUNTING POLICIES 2.1 Amended MFRS Accounting Standards adopted The accounting policies adopted are consistent with those of the previous financial year except for the adoption of the following amended MFRS Accounting Standards, which became effective for the Group and the Bank during the current financial year: - Lease Liability in a Sale and Leaseback (Amendments to MFRS 16 Leases) - Non-current Liabilities with Covenants (Amendments to MFRS 101 Presentation of Financial Statements) - Supplier Finance Arrangements (Amendments to MFRS 107 Statement of Cash Flows and MFRS 7 Financial Instruments: Disclosures) The adoption of the amended MFRS Accounting Standards did not have any significant impact on the financial position or performance of the Group and of the Bank.
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