MKH Annual Report 2017

The Group The Company 2017 2016 2017 2016 RM RM RM RM CASH FLOWS FROM /(USED IN) OPERATING ACTIVITIES Profit before tax 193,592,301 304,668,805 50,665,944 70,203,441 Adjustments for: Amortisation of biological assets 16,719,899 13,830,066 - - Amortisation of prepaid lease payments 1,530,438 992,441 - - Bad debts written off - 42,031 - - Biological assets written off 4,775,926 1,574,617 - - Changes in fair value of investment properties (2,987,901) - - - Depreciation of property, plant and equipment 20,055,373 18,797,489 19,573 19,757 Deposits written off 5,600 1,514,040 - - Dividend income - - (44,370,000) (65,644,900) Impairment loss on: Trade receivables 59,906 108,808 - - Other receivables 2,000 190,992 - - Inventories written off 161,778 - - - Interest expense 47,564,546 52,192,866 4,656,946 3,268,766 Unrealised losses/(gains) on foreign exchange - net 7,180,903 (39,506,643) - - Property, plant and equipment written off 23,660 34,788 1 1 Land held for property development written off - 184,174 - - Provision for retirement gratuity 587,866 - - - Provision for post-employment benefit obligations 832,705 2,357,525 - - Gain arising from derivative financial assets - (42,350) - - Gain on bargain purchase on acquisition of subsidiaries - (5,085,683) - - Gain on disposal of property, plant and equipment (7,735) (122,609) - - Interest income (6,131,936) (5,810,309) (15,031,607) (11,317,860) Reversal of impairment loss on: Loan and finance lease receivables (100) (909) - - Trade receivables (64,942) (59,461) - - Other receivables (58,483) (63,621) (4,200) (8,025) Share of results of associates 2,206,144 818,527 - - Operating Profit/(Loss) Before Changes in Working Capital 286,047,948 346,615,584 (4,063,343) (3,478,820) Change in property development costs 2,074,315 62,052,397 - - Change in inventories 55,778,861 36,779,727 - - Change in accrued billings in respect of property development 60,447,554 (94,074,964) - - Change in receivables, deposits and prepayments (58,201,676) (32,808,637) (1,345,699) (374,282) Change in payables and accruals (144,913,951) 15,721,903 629,370 (63,500) Cash Generated From/(Used In) Operations 201,233,051 334,286,010 (4,779,672) (3,916,602) Interest received 6,012,785 5,804,605 15,031,607 11,317,860 Interest paid (48,869,220) (43,277,139) (4,656,946) (3,268,766) Tax paid (102,552,142) (78,888,280) (2,603,646) (2,545,742) Tax refunded 2,423,018 2,203,282 - - Retirement benefit obligations paid (352,618) (223,580) - - Net Cash From Operating Activities 57,894,874 219,904,898 2,991,343 1,586,750 STATEMENTs OF CASH FLOWS For the Financial Year ended 30 September 2017 93 MKH Berhad • Annual Report 2017