Kimlun Corporation Berhad Annual Report 2018

Kimlun Corporation Berhad 71 Group 2018 2017 RM RM Operating activities Profit before tax 81,666,262 90,034,951 Adjustments for: Interest income (1,451,250) (1,696,001) Finance costs 11,881,755 7,138,291 Allowance for impairment on trade receivables 1,838,324 11,635,078 Reversal of allowance for impairment on trade receivables - (809,370) Bad debts written off 1,504 - Impairment loss on investment properties 110,172 210,120 Depreciation of property, plant and equipment 40,439,057 26,647,705 Gain on disposal of investment properties (18,953) - Gain on disposal of plant and equipment (324,836) (1,409,142) Plant and equipment written off 134,842 50,666 Share of profit of joint ventures (809,691) (517,064) Gain on disposal of land held for property development - (10,621) Unrealised foreign exchange (gain)/loss (3,648,006) 7,258,000 Fair value loss/(gain) on other investments 211,937 (115,603) Operating cash flows before changes in working capital 130,031,117 138,417,010 Property development costs (72,421,164) 24,341,735 Inventories (48,353,745) (55,441,014) Receivables (59,210,005) 42,294,830 Other current assets (102,198,314) (109,972,020) Payables 72,705,162 78,645,197 Other current liability (27,430,823) (2,056,545) Cash flows generated from operations (106,877,772) 116,229,193 Interest received 1,451,250 1,696,001 Income taxes paid (21,514,310) (22,027,755) Interest paid (10,576,975) (6,451,057) Net cash flows (used in)/generated from operating activities (137,517,807) 89,446,382 Investing activities Investment in joint ventures - (300,000) Purchase of property, plant and equipment (21,749,363) (18,764,143) Purchases of land held for development and expenditure on land held for development (678,000) (18,060,118) Proceeds from disposal of plant and equipment 334,772 2,391,332 Addition to investment property - (2,574,750) Proceeds from disposal of other investments 64,637 - Proceeds from disposal of investment properties 883,800 - Proceeds from disposal of land held for development - 272,680 Net cash flows used in investing activities (21,144,154) (37,034,999) STATEMENTS OF CASH FLOWS For the financial year ended 31 December 2018 The accompanying accounting policies and explanatory notes form an integral part of the financial statements.