Attributable to owners of the parent Non-distributable Distributable Irredeemable convertible Share preference Treasury Retained Total Perpetual Total capital shares shares earnings reserves Total bond equity RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Note 28 Note 30 Note 28 Note 29(b) Note 30 At 1 January 2021 2,044,322 1,004,593 (6,882) 400,256 400,256 3,442,289 252,613 3,694,902 Total comprehensive loss – – – (64,599) (64,599) (64,599) – (64,599) Distribution for the financial year – – – – – – 22,633 22,633 Distribution paid for the financial year – – – – – – (17,455) (17,455) Transactions with owners: Issuance of ordinary shares 1,846 – – – – 1,846 – 1,846 Issuance of perpetual bond – – – – – – 270,000 270,000 Purchase of treasury shares – – (19,221) – – (19,221) – (19,221) Total transactions with owners 1,846 – (19,221) – – (17,375) 270,000 252,625 At 31 December 2021 2,046,168 1,004,593 (26,103) 335,657 335,657 3,360,315 527,791 3,888,106 At 1 January 2020 2,044,322 1,004,593 (13,648) 500,743 500,743 3,536,010 252,661 3,788,671 Total comprehensive loss – – – (46,658) (46,658) (46,658) – (46,658) Distribution for the financial year – – – – – – 17,361 17,361 Distribution paid for the financial year – – – – – – (17,409) (17,409) Transactions with owners: Purchase of treasury shares – – (47,063) – – (47,063) – (47,063) Dividends paid via distribution of treasury shares – – 53,829 (53,829) (53,829) – – – Total transactions with owners – – 6,766 (53,829) (53,829) (47,063) – (47,063) At 31 December 2020 2,044,322 1,004,593 (6,882) 400,256 400,256 3,442,289 252,613 3,694,902 For the financial year ended 31 December 2021 2021 2020 RM’000 RM’000 Cash flows from operating activities (Loss)/profit before tax (35,982) 238,404 Adjustments for: Depreciation of property, plant and equipment 32,020 28,252 Depreciation of right-of-use assets 5,014 6,296 Amortisation of intangible assets 456 342 Amortisation of deferred license fees (4,697) (4,586) Amortisation of security retainers accumulation fund 11 11 Finance income (6,549) (17,780) Finance costs 201,451 164,287 Share of results of an associate (18,587) (6,046) Share of results of joint ventures (22,254) 1,168 Unrealised profit arising from transaction with a joint venture 199 98 Unrealised foreign exchange (gain)/loss, net (83) 27 Unrealised returns on security retainers accumulation fund 29 (98) Gain on a bargain purchase (18,219) – Dividend income from other investments (9,265) (33) Reversal of impairment loss on trade and other receivables (3,566) (4,388) (Gain)/loss on disposal of: - property, plant and equipment, net (770) (88) - investment property 10,000 – - quoted shares (15,083) (4,823) - asset classified as held for sale, net – 1,538 Fair value (gain)/loss on: - investment properties, net (19,960) (138,128) - quoted shares (27,386) 9,162 - transferable corporate golf club memberships – (575) - biological assets 62 – Impairment loss on: - property, plant and equipment – 33,650 - trade and other receivables 11,514 2,718 - intangible assets 2,353 – Reversal of impairment loss on property, plant and equipment (2,560) – Property, plant and equipment written off 82 77 Inventories written down 2,930 – Bad debts written off 498 49 Right-of-use assets written off 262 – Biological assets written off 185 – Adjustment on purchase price allocation – (450) Operating profit before working capital changes 82,105 309,084 Changes in working capital: Trade and other receivables 1 37,503 (74,364) Contract cost assets 129,075 128,045 Contract assets 69,405 5,047 Inventories 2 (524,339) (342,356) Biological assets (45) (219) Trade and other payables (31,352) (388,946) Contract liabilities 1,165 (121,790) Cash used in operations (236,483) (485,499) Finance costs paid (207,745) (194,345) Net taxes paid (88,998) (67,246) Net cash used in operating activities (533,226) (747,090) For the financial year ended 31 December 2021 CHANGES IN EQUITY - COMPANY CASH FLOWS - GROUP STATEMENT OF STATEMENTS OF The accompanying accounting policies and explanatory information form an integral part of the financial statements. Annual Report 2021 TROPICANA CORPORATION BERHAD FINANCIAL STATEMENTS AND OTHER INFORMATION 220 221
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