Group Company 2023 2022 2023 2022 Note RM RM RM RM CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation 40,162,694 40,565,499 22,343,674 37,357,766 Adjustments for: Amortisation of: - intangible assets 14 281,076 264,671 26,248 26,247 - contract liabilities 28(b) (11,826,749) (16,730,500) (1,347,539) (1,627,204) Bad debts written off 398,260 118,678 13,542 - Depreciation of property, plant and equipment 12 23,762,678 26,091,489 1,455,501 1,361,206 Dividend income - - (19,000,000) (38,000,000) Net impairment losses/(reversal of impairment losses) on: - property, plant and equipment 12(d) 56,353 - - - - trade and other receivables 1,184,870 1,701,026 (15,960) (99,143) - investments in subsidiaries 16(i) - - - (1,627,185) Fair value loss on other investment 21(f) 18,500 301,153 - 281,876 Fair value loss on financial guarantee contracts - - 145,440 - Unwinding of financial guarantee contracts - - (183,052) - Interest expense 1,909,544 1,378,181 1,132,820 545,153 Interest income (1,650,333) (2,181,126) (3,523,454) (2,000,798) Inventories written off 19(d) - 93,884 - - Inventories written back 19(f) - (1,042,266) - - (Gain)/Loss on disposal of property, plant and equipment (excluding right-of-use assets) (3,099,914) 896,170 (192) (1,032) Gain on disposal of investment in an associate - (1,468,950) - - Gain on derecognition of right-of-use assets upon early settlement 13(e) - (3,603) - - Gain on lease termination 13(e) (873) (33,958) - - Loss on reassessment of right-of-use assets 13(e) 18,874 - - - Unrealised gain on foreign exchange, net (122,655) (8,436) (78,141) (16,145) Property, plant and equipment written off 12 147,611 336,214 - 448 Reversal of inventories written down 19(g) - (57,216) - - Share of profit of an associate 17(e) - (2,304) - - Operating profit/(loss) before changes in working capital 51,239,936 50,218,606 968,887 (3,798,811) STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 87 ANNUAL REPORT 2023
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