STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023 The annexed notes form an integral part of these financial statements. THE GROUP THE COMPANY 2023 RM’000 2022 RM’000 (RESTATED) 2023 RM’000 2022 RM’000 CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation 260,662 268,396 123,018 19,979 Adjustments for:- Bad debts written off - 4 - - Depreciation of property, plant and equipment 9,320 10,891 - - Depreciation of right-of-use assets 930 1,021 - - Depreciation of investment properties 1 2 - - Deposit written off - 103 - - Property, plant and equipment written off 703 - - - Property development costs written off 3,229 5,579 - - Impairment loss on deposit 7,000 - - - Impairment loss on investment in subsidiaries - - 13,130 30,384 Impairment loss on amount owing by subsidiaries - - 12,440 94,500 Impairment loss on property, plant and equipment - 11,963 - - Impairment loss on trade receivable - 11 - - Impairment loss on other receivable 3,042 - - - Interest expense on lease liabilities 143 129 - - Interest expenses 9,491 16,151 13,033 16,137 Interest income (4,800) (4,583) (43,215) (47,773) Bad debts recovered (26) (30) - - Gain on derecognition due to lease modification (5) - - - Gain on disposal of investment property (36) (54) - - Gain on disposal of property, plant and equipment (1,277) (213) - - Gain on capital reduction of a subsidiary - - - (150) Reversal of impairment loss on deposit - (7,000) - - Share of profit of joint venture (1,816) (3,409) - - Operating profit before working capital changes 286,561 298,961 118,406 113,077 Decrease in inventories 100,622 31,208 - - Increase in receivables and contract assets (71,644) (88,913) (55) - (Decrease)/Increase in payables and contract liabilities (23,454) (47,883) (537) 322 CASH FROM OPERATIONS 292,085 193,373 117,814 113,399 Interest received 4,425 2,070 43,215 47,773 Income tax paid (68,051) (76,530) (5,768) (2,850) Income tax refunded 20 3,972 - - Interest paid (17,152) (15,015) (13,033) (16,137) NET CASH FROM OPERATING ACTIVITIES 211,327 107,870 142,228 142,185 INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 149
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