2022 2021 RM’000 RM’000 Cash flows from operating activities Net cash (used in)/generated from operating activities brought forward (287,403) 78,230 Overprovision of property development costs in prior years (34,965) (31,517) Inventories written down 375,723 2,930 Bad debts written off 884 498 Land held for property development written off 4,045 – Loss on lease termination 351 – Right-of-use assets written off – 262 Biological assets written off 17 185 Operating profit before working capital changes 58,652 50,588 Changes in working capital: Trade and other receivables 1 173,635 37,503 Contract cost assets 45,033 129,075 Contract assets (62,557) 69,405 Inventories 2 (421,439) (524,339) Biological assets (1,410) (45) Trade and other payables 324,871 165 Contract liabilities 66,371 1,165 Cash generated from/(used in) operations 183,156 (236,483) Finance costs paid (167,489) (207,745) Net taxes paid (40,341) (88,998) Net cash used in operating activities (24,674) (533,226) Cash flows from investing activities Purchase of property, plant and equipment (84,501) (13,985) Purchase of investment properties (5,126) (23,668) Proceeds from disposal of property, plant and equipment 122 902 Proceeds from disposal of investment property – 103,000 Proceeds from disposal of asset held for sale 17,041 – Proceeds from disposal of quoted shares 101,909 68,335 Net cash outflow on acquisition of subsidiaries – (113,088) Acquisition of quoted shares (72,312) (41,592) Acquisition of non-controlling interest (4,900) (3) Advances to a joint venture (1,646) (442) Finance costs paid – (55) Finance income received 11,096 6,549 Dividend income received 23,322 9,265 Net cash used in investing activities (14,995) (4,782) 165 FINANCIAL STATEMENTS & OTHER INFORMATION
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