Annual Report 2023 129 Group Company 2023 2022 2023 2022 Note RM’000 RM’000 RM’000 RM’000 CASH FLOWS FROM/(FOR) OPERATING ACTIVITIES Profit before taxation 108,183 12,737 49,451 1,952 Adjustments for:- Allowance for impairment losses on: - amount owing by a subsidiary - - 6,103 - - inventories 37 - - - - trade receivables 3,572 3,656 - - - other receivables - 155 - - Amount owing by a subsidiary written off - - - 136 Amortisation of development expenditure 11,507 4,982 - - Bad debts written off - 94 - - Depreciation of property, plant and equipment 24,899 11,996 1,084 1,063 Depreciation of right-of-use assets 419 514 371 245 Property, plant and equipment written off 2 19 1 14 Fair value (gain)/loss on trade receivable (170) 59 - - Interest expense: - interest expense on lease liabilities 14 55 14 4 - other interest expense 1,645 1,404 96 127 Inventories written off 136 - - - Investment in a subsidiary written off - - - 10 Reversal of excess accrued operational costs - (4,500) - - Unrealised (gain)/loss on foreign exchange (272) 18 (4) (1) Dividend income - - (56,000) (2,000) Gain on disposal of plant and equipment (46) (47) (46) (47) Interest income (361) (3,000) (207) (2,504) Writeback of impairment losses on - inventories (214) (121) - - - trade receivables (53) - - - Operating profit/(loss) before working capital changes 149,298 28,021 863 (1,001) Decrease/(Increase) in projects-in-progress 1,583 (977) - - Decrease/(Increase) in inventories 3,554 (3,823) - - (Increase)/Decrease in trade and other receivables (70,156) (17,025) 15 (161) Increase/(Decrease) in trade and other payables 13,951 (4,547) 753 434 Decrease/(Increase) in amount owing by subsidiaries - - 83 (19,306) Decrease in amount owing to subsidiaries - - (18) (12,690) CASH FROM/(FOR) OPERATING ACTIVITIES 98,230 1,649 1,696 (32,724) Income tax paid (23,280) (2,178) (425) (206) Interest paid (1,659) (1,459) (110) (131) NET CASH FROM/(FOR) OPERATING ACTIVITIES 73,291 (1,988) 1,161 (33,061) The annexed notes form an integral part of these financial statements. STATEMENTS OF Cash Flows FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
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