STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 The Group The Fund 2022 2021 2022 2021 RM RM RM RM Cash flows from operating activities Profit before tax 60,035,534 72,781,553 58,083,107 46,601,801 Adjustments for: Finance costs 27,598,039 28,004,770 27,598,039 28,004,771 Investment revenue (922,748) (623,104) (5,377,949) (7,382,380) Interest accretion on tenant deposits 359,332 1,018,526 359,332 1,018,526 Amortisation of deferred income (406,923) (347,829) (406,923) (347,829) Allowance for impairment loss in investment in subsidiaries - - 893,792 24,058,753 Allowance for expected credit loss on amount due from a subsidiary - - - 1,303,019 Fair value adjustment of investment properties 11,258,551 (5,536,199) 11,258,551 (5,536,199) Unrealised loss on foreign exchange 16,585 146,339 16,585 146,339 Loss on disposal of investment properties 93,800 - 93,800 - Unbilled rental income (3,497,314) (2,843,801) (3,497,314) (2,843,801) Derecognition of past lease receivables - 5,806,073 - 4,514,732 Operating profit before working capital changes 94,534,856 98,406,328 89,021,020 89,537,732 Changes in working capital: Increase in trade receivables (9,899,605) (8,415,374) (3,957,829) (8,259,704) Decrease/(Increase) in other receivables and prepaid expenses 437,857 (362,818) 437,857 (388,883) Increase/(Decrease) in other payables and accrued expenses 3,797,903 (1,047,592) 4,191,064 3,565,848 Net changes in working capital (5,663,845) (9,825,784) 671,092 (5,082,739) Net cash generated from operating activities 88,871,011 88,580,544 89,692,112 84,454,993 Cash flows from investing activities Income received on investment 908,882 569,429 909,604 570,401 Profit sharing on advances from a subsidiary in Australia - - 445,520 675,928 Net proceed from disposal of investment property 200,700 - 200,700 - Enhancement to investment properties (3,655,737) - (3,655,737) - Acquisition of investment properties (166,989,184) - (166,989,184) - Net cash (used in)/ generated from investing activities (169,535,339) 569,429 (169,089,097) 1,246,329 Cash flows from financing activities Finance costs paid on Islamic financing (25,436,793) (25,067,049) (25,436,793) (15,288,010) Finance costs paid on amount due to a subsidiary - - - (10,328,925) Transaction costs paid (1,688,263) (6,277,322) (1,688,263) (6,209,872) Decrease in amount due to a subsidiary - - (33,161) (556,536,377) Income distributions (57,406,808) (54,830,869) (57,406,808) (54,830,869) Net proceeds from Islamic financing 172,000,000 5,000,000 172,000,000 580,000,000 Net cash generated from/(used in) financing activities 87,468,136 (81,175,240) 87,434,975 (63,194,053) AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2022 148
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