LIQUIDITY AND CAPITAL RESOURCES For FY2023, the cash and cash equivalents of the Group decreased by RM42.1 million to RM349.9 million as at 30 September 2023 (FY2022: decreased by RM24.9 million to RM390.0 million as at 30 September 2022), which was culminated from the following cash flows activities: Net cash generated from/ (used in) 2023 RM’000 2022 RM’000 Changes (%) Operating activities 143,690 239,419 (40.0) Investing activities (69,443) (99,927) 30.5 Financing activities (116,359) (164,352) 29.2 (Decrease)/Increase in cash and cash equivalents (42,112) (24,860) (69.4) For FY2023, the Group recorded lower cashflows generated from operating activities following the lower profit contribution from the Plantation Division and ongoing project developments. The cash flows used in financing activities decreased following a net repayment of bank borrowings totalling RM52.2 million in FY2023 (FY2022: RM130.3 million) and the set off of payment made to non-controlling interests for capital reduction, redemption of redeemable preference shares and dividend totalling RM49.9 million (FY2022: RM27.9 million). The Group’s capital resources comprise primary cash flows generated from operating activities, cash and cash equivalents, term deposits, fixed-income funds and available lines of credit. As at 30 September 2023, the Group’s net gearing improved to 0.01 times (FY2022: 0.02 times). The Group continues to uphold a prudent approach towards managing its capital resources to ensure adequacy in meeting operational requirements and capital expenditure from time to time. MANAGEMENT DISCUSSION AND ANALYSIS REPORT Aerial view of our CPO Mill and Management Office 28 MKH BERHAD | ANNUAL REPORT 2023
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