Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2023 89 STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 The Group The Company 2023 2022 2023 2022 RM RM RM RM CASH FLOWS FROM/(FOR) OPERATING ACTIVITIES Profit before tax 167,066,248 174,790,489 56,876,626 17,489,537 Adjustments for: Depreciation of property, plant and equipment 16,597,733 14,332,080 6,009 3,344 Depreciation of right-of-use assets 3,643,919 3,259,024 - - Interest expense 1,050,224 830,861 - - Unrealised loss/(gain) on foreign exchange 1,514,307 (1,602,546) 61,193 (19,700) Allowance for impairment losses on trade receivables - 759,650 - - Inventories written down 358,167 144,513 - - Property, plant and equipment written off 45,991 45,054 - - Share grant plan - 4,183,700 - 3,965,420 Interest income (4,521,453) (1,247,179) (454,958) (207,699) Fair value gain on short-term investments (633,344) (76,694) - - Gain on disposal of property, plant and equipment (928,886) (34,057) - - Gain on disposal of short-term investments (175,649) - - - Reversal of allowance for impairment losses on trade receivables (492,662) - - - Reversal of inventories previously written down (8,375) (5,719) - - Dividend income from subsidiaries - - (64,895,945) (26,890,468) Operating Profit/(Loss) Before Working Capital Changes 183,516,220 195,379,176 (8,407,075) (5,659,566) (Increase)/Decrease in: Inventories (683,579) (2,509,576) - - Trade receivables 10,029,167 (11,716,329) - - Other receivables and prepaid expenses 684,501 (8,099,538) (428,785) 5,453 (Decrease)/Increase in: Trade payables (5,500,130) 6,755,491 - - Other payables and accrued expenses 2,767,326 (888,183) 2,929,107 (1,095,757) Cash Generated From/(For) Operations 190,813,505 178,921,041 (5,906,753) (6,749,870) Taxes paid (46,814,668) (36,057,594) (116,643) (295,595) Net Cash From/(For) Operating Activities 143,998,837 142,863,447 (6,023,396) (7,045,465) The accompanying Notes form an integral part of these Financial Statements.
RkJQdWJsaXNoZXIy NDgzMzc=