Frontken Berhad Annual Report 2020

Annual Report 2020 64 FRONTKEN CORPORATION BERHAD 200401012517 (651020-T) The Group The Company 2020 2019 2020 2019 RM RM RM RM CASH FLOWS FROM/(FOR) OPERATING ACTIVITIES Profit before tax 114,252,674 96,261,457 60,125,383 23,786,496 Adjustments for: Depreciation of property, plant and equipment 15,274,424 15,777,521 1,505 17,205 Depreciation of right-of-use assets 3,149,038 2,040,669 94,956 94,956 Interest expense 666,716 755,525 4,848 9,480 Unrealised loss/(gain) on foreign exchange 612,699 (81,588) 244,238 20,673 Allowance for impairment losses on trade receivables 202,171 – – – Property, plant and equipment written off 180,304 35 – – Gain on lease modification (725) – – – Interest income (1,249,835) (1,150,023) (301,006) (455,564) Gain on disposal of property, plant and equipment (1,555,110) (14,417) – – Writeback of allowance for impairment losses on amount owing by a subsidiary – – – (271,455) Writeback of allowance for impairment losses on trade receivables – (2,200) – – Dividend income from subsidiaries – – (65,771,356) (28,541,623) Operating Profit/(Loss) Before Working Capital Changes 131,532,356 113,586,979 (5,601,432) (5,339,832) (Increase)/Decrease in: Inventories (4,402,509) (1,274,623) – – Trade receivables (14,864,868) 20,924,616 – – Other receivables and prepaid expenses (87,320) (564,806) 54,312 (3,691) Increase/(Decrease) in: Trade payables 1,398,854 (1,313,328) – – Other payables and accrued expenses 29,036,331 3,319,226 552,219 503,145 Cash Generated From/(For) Operations 142,612,844 134,678,064 (4,994,901) (4,840,378) Taxes paid (22,879,468) (19,777,287) – – Net Cash From/(For) Operating Activities 119,733,376 114,900,777 (4,994,901) (4,840,378) STATEMENTS OF Cash flows for the financial year ended 31 December 2020 The accompanying Notes form an integral part of these Financial Statements.