Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2022 84 STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 The accompanying Notes form an integral part of these Financial Statements. The Group The Company 2022 2021 2022 2021 RM RM RM RM CASH FLOWS FROM/(FOR) OPERATING ACTIVITIES Profit before tax 174,790,489 149,866,475 17,489,537 84,278,626 Adjustments for: Depreciation of property, plant and equipment 14,332,080 14,573,386 3,344 1,382 Depreciation of right-of-use assets 3,259,024 3,101,127 - - Interest expense 830,861 614,836 - - Unrealised (gain)/loss on foreign exchange (1,602,546) 92,091 (19,700) 45,634 Allowance for impairment losses on trade receivables 759,650 64,043 - - Property, plant and equipment written off 45,054 2,714 - - Share grant plan 4,183,700 - 3,965,420 - Interest income (1,247,179) (840,722) (207,699) (269,458) Fair value gain on short-term investments (76,694) - - - Gain on disposal of property, plant and equipment (34,057) (25,770) - - Writeback of allowance for impairment losses on trade receivables - (204,546) - - Dividend income from subsidiaries - - (26,890,468) (90,483,564) Operating Profit/(Loss) Before Working Capital Changes 195,240,382 167,243,634 (5,659,566) (6,427,380) (Increase)/Decrease in: Inventories (2,370,782) 1,086,695 - - Trade receivables (11,716,329) (8,966,769) - - Other receivables and prepaid expenses (8,099,538) (2,536,644) 5,453 (43,674) (Decrease)/Increase in: Trade payables 6,755,491 1,958,608 - - Other payables and accrued expenses (888,183) 11,051,943 (1,095,757) 1,004,381 Cash Generated From/(For) Operations 178,921,041 169,837,467 (6,749,870) (5,466,673) Taxes paid (36,057,594) (31,062,257) (295,595) - Net Cash From/(For) Operating Activities 142,863,447 138,775,210 (7,045,465) (5,466,673)
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