179 ANNUAL REPORT 2025 MST GOLF GROUP BERHAD STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025 Group Company Note 2025 2024 2025 2024 RM’000 RM’000 RM’000 RM’000 OPERATING ACTIVITIES (Loss)/Profit before tax (8,602) 9,438 (11,891) 8,310 Adjustments for:- Depreciation on property, plant and equipment 11,823 11,292 96 90 Depreciation on right-of-use assets 16,983 16,945 - - Derecognised of provision for restoration cost (78) - - - Property, plant and equipment written off 19 27 - 3 Rent concession - (555) - - (Gain)/Loss on lease modification (62) 456 - - Loss on lease derecognition 1,952 - - - Loss/(Gain) on disposal of property, plant and equipment 8 (10) - - Bad debt written off 19 - - - Reversal of ECL on receivables (19) - - - Allowance of ECL on receivables 3 19 - - Allowance of ECL on subsidiaries - - 7,500 - Fair value gain on other investment (1,188) (1,154) (1,151) (1,112) Impairment loss on investment in subsidiaries - - 7,376 - Impairment loss on property, plant and equipment 2,236 - - - Impairment loss on right-of-use assets 6,473 - - - Allowance for slow-moving inventories 963 2,437 - - Reversal for slow-moving inventories (922) (1,255) - - Dividend income - - (2,100) (7,000) Interest income (568) (1,101) (805) (1,947) Interest expense 6,071 7,444 - - Provision for employee benefits 50 63 - - Unrealised loss on foreign exchange 590 534 - - Operating profit/(loss) before working capital changes 35,751 44,580 (975) (1,656) Inventories 33,835 (16,299) - - Payables (6,222) (3,945) (129) (478) Receivables (516) 4,568 73 5,408 Contract liabilities (186) (1,734) - - Cash generated from/(used in) operations 62,662 27,170 (1,031) 3,274 Tax paid (4,524) (7,826) (98) (387) Tax refunded 849 - 8 - Net cash from/(used in) operating activities 58,987 19,344 (1,121) 2,887 The accompanying notes form an integral part of the financial statements.
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