MKH BERHAD | ANNUAL REPORT 2023 139 The Group The Company 2023 2022 2023 2022 RM RM RM RM CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES (CONT’D) Income arising on capital reduction of subsidiaries - - (1,137,537) - Interest expense 23,881,254 25,390,488 6,126,688 5,326,784 Interest income (11,248,780) (5,594,770) (1,367,406) (7,483,728) Inventories written down 18,960 - - - Inventories written off 16,509 577 - - Property, plant and equipment written off 80,816 587,418 - 3 Provision for foreseeable loss 2,080,070 - - - Provision for post-employment benefit obligations 4,415,620 3,163,357 - - Provision for retirement gratuity 1,317,328 - - - Share of results of associates (3,294,558) (1,400,373) - - Unrealised losses/(gains) on foreign exchange - net 495,545 (4,740,984) - - Operating Profit/(Loss) Before Changes in Working Capital 170,998,277 220,698,983 (1,971,527) (2,286,242) Change in property development costs 61,594,484 55,141,650 - - Change in inventories 46,005,077 11,811,912 - - Change in contract assets (18,181,101) (19,954,869) - - Change in contract costs assets 1,619,295 3,504,519 - - Change in receivables, deposits and prepayments (15,687,474) 12,061,933 (233,452) (1,306,194) Change in contract liabilities (573,231) (9,302,497) - - Change in payables and accruals (50,916,817) 44,482,418 10,380,701 243,100 Cash Generated From/(Used In) Operations 194,858,510 318,444,049 8,175,722 (3,349,336) Interest received 6,783,100 4,740,540 1,367,406 7,483,728 Interest paid (19,461,760) (18,723,331) (6,126,688) (5,326,784) Tax paid (40,950,647) (64,075,485) (1,048,542) (2,374,358) Tax refunded 4,115,442 1,011,491 - - Retirement benefit obligations paid (1,654,562) (1,978,521) - - Net Cash From/(Used In) Operating Activities 143,690,083 239,418,743 2,367,898 (3,566,750) STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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