157 ANNUAL REPORT 2023 MST GOLF GROUP BERHAD Registration No: 199301009307 (264044-M) Note 2023 2022 2023 2022 RM '000 RM '000 RM '000 RM '000 ASSETS Non-current assets Property, plant and equipment 3 53,223 44,024 261 46 Right-of-use assets 4 56,479 46,111 - - Intangible assets 5 1,417 1,417 - - Investment in subsidiaries 6 - - 71,606 46,381 Other investment 7 17 17 - - Deferred tax assets 8 272 219 - - Other receivables 11 437 - - - Amount owing by subsidiaries 12 - - 8,294 - Total non-current assets 111,845 91,788 80,161 46,427 Current assets Inventories 9 150,636 113,567 - - Trade receivables 10 11,834 8,506 - - Other receivables 11 19,109 15,979 5,509 1,881 Amount owing by subsidiaries 12 - - 36,578 9,851 Tax recoverable - 7 - 7 Other investment 7 26,655 - 26,655 - Fixed deposits with licensed banks 13 57,374 2,059 34,326 - Cash and bank balances 35,264 26,825 5,788 577 Total current assets 300,872 166,943 108,856 12,316 TOTAL ASSETS 412,717 258,731 189,017 58,743 EQUITY AND LIABILITIES EQUITY Equity attributable to equity shareholders of the Company:- Share capital 14 165,902 39,836 165,902 39,836 Foreign exchange reserve 15 5,437 3,126 - - Retained earnings 66,181 52,654 17,387 5,224 237,520 95,616 183,289 45,060 Non-controlling interests 6 18,061 - - - Total equity 255,581 95,616 183,289 45,060 MST GOLF GROUP BERHAD (Incorporated in Malaysia) STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2023 Group Company 19
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