EXCEL FORCE MSC BERHAD 57 Group Company 30.6.2023 31.12.2021 30.6.2023 31.12.2021 RM RM RM RM Cash flows from operating activities Profit before tax 16,353,838 16,885,529 17,049,543 17,148,015 Adjustments for: Amortisation of product development costs 4,024,257 2,710,519 3,481,881 2,319,300 Depreciation of: - property, plant and equipment 1,303,335 754,047 1,187,730 688,276 - right-of-use assets 561,372 344,187 561,372 344,187 Impairment losses on trade receivables 22,243 - 8,966 - Gain on disposal of property, plant and equipment (44,397) (124,857) (44,397) (124,857) Property, plant and equipment written off 1 806 1 774 Provision of loss claim - 600,000 - 600,000 Dividend income - - (570,000) (470,000) Interest income from: - deposits with licensed banks (107,361) (50,101) (80,244) (39,443) - short-term funds (118,313) (64,999) (118,313) (64,999) Finance cost 41,438 29,875 41,438 29,875 Reversal of impairment losses on trade receivables - (109,416) - (108,573) Share of result of an associate (18,048) - - - Unrealised gain on foreign exchange (27,241) (9,181) (27,241) (9,181) Waiver of amount due from a subsidiary company - - - 285,370 Operating profit before working capital changes 21,991,124 20,966,409 21,490,736 20,598,744 Changes in working capital: Inventories - (6,520) - (6,520) Receivables 139,538 6,053,133 273,171 6,036,719 Payables (1,442,027) (1,222,573) (1,323,689) (1,281,437) Contract liabilities 1,067,033 949,132 992,520 992,210 Subsidiary companies - - - (2,526,587) Cash generated from operations 21,755,668 26,739,581 21,432,738 23,813,129 Dividend received - - 570,000 470,000 Tax paid (5,052,792) (5,636,270) (4,705,798) (5,574,224) Net cash from operating activities 16,702,876 21,103,311 17,296,940 18,708,905 Statements of Cash Flows For the Financial Period from 1 January 2022 to 30 June 2023
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