STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 The Group The Fund 2023 2022 2023 2022 RM RM RM RM Cash flows from operating activities Profit before tax 60,554,173 60,035,534 66,377,692 58,083,107 Adjustments for: Finance costs 39,147,086 27,598,039 39,147,086 27,598,039 Investment revenue (1,450,856) (922,748) (5,906,057) (5,377,949) Interest accretion on tenant deposits 424,563 359,332 424,563 359,332 Amortisation of deferred income (463,085) (406,923) (463,085) (406,923) Allowance for impairment loss in investment in subsidiaries - - 2,539,638 893,792 Allowance for expected credit loss on amount due from a subsidiary - - 6,970,806 - Fair value adjustment of investment properties 5,151,250 11,258,551 (8,735,161) 11,258,551 Unrealised (gain)/loss on foreign exchange (55,712) 16,585 (55,712) 16,585 Loss on disposal of investment property - 93,800 - 93,800 Unbilled rental income (2,364,839) (3,497,314) (2,364,839) (3,497,314) Operating profit before working capital changes 100,942,580 94,534,856 97,934,931 89,021,020 Changes in working capital: Decrease/(Increase) in trade receivables 500,182 (9,899,605) 8,138,379 (3,957,829) (Increase)/Decrease in other receivables and prepaid expenses (263,046) 437,857 (195,334) 437,857 Increase/(Decrease) in other payables and accrued expenses 77,685 3,797,903 (1,095,903) 4,191,064 Net changes in working capital 314,821 (5,663,845) 6,847,142 671,092 Net cash generated from operating activities 101,257,401 88,871,011 104,782,073 89,692,112 Cash flows from investing activities Income received on investment 1,494,280 908,882 1,495,274 909,604 Profit sharing on advances from a subsidiary in Australia - - 445,520 445,520 Net proceed from disposal of investment property - 200,700 - 200,700 Enhancement to investment properties - (3,655,737) - (3,655,737) Acquisition of investment properties - (166,989,184) - (166,989,184) Net cash generated from/(used in) investing activities 1,494,280 (169,535,339) 1,940,794 (169,089,097) Cash flows from financing activities Finance costs paid on Islamic financing (36,525,112) (25,436,793) (36,525,112) (25,436,793) Transaction costs paid (180,000) (1,688,263) (180,000) (1,688,263) Decrease in amount due to a subsidiary - - (84,774) (33,161) Income distributions (78,266,014) (57,406,808) (78,266,014) (57,406,808) Repayment of Islamic financing (100,000,000) - (100,000,000) - Net proceeds from issuance of units 98,349,283 - 98,349,283 - Net proceeds from Islamic financing - 172,000,000 - 172,000,000 Net cash (used in)/generated from financing activities (116,621,843) 87,468,136 (116,706,617) 87,434,975 AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2023 182 FINANCIAL STATEMENTS 1 2 3 4 5
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