Page 284 - MSM_AIR2021

282 MSM MALAYSIA HOLDINGS BERHAD WHO WE ARE STATEMENT & DISCUSSION BY OUR LEADERS HOW WE OPERATE
ANNUAL INTEGRATED REPORT 2021

STATEMENTS OF

CASH FLOWS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021

Group Company
Note 2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000
CASH FLOWS FROM OPERATING ACTIVITIES
Profit/(loss) for the financial year from:
- Continuing operations 36,615 3,863 200,895 47,318
- Discontinued operations 88,738 (75,091) - -
125,353 (71,228) 200,895 47,318
Adjustments for:
Taxation 43,487 30,498 4,451 2,448
Depreciation of property, plant and equipment 75,402 72,830 650 657
Gain on disposal of property, plant and equipment (902) (18) (197) -
Depreciation of right-of-use asset 2,748 3,001 661 496
Loss on lease modification - 453 - 453
Loan modification (costs)/credit recharged to a subsidiary - - (9,749) 11,695
Intangible assets written off - 534 - 534
Reversal of impairment of property, plant and equipment (16,427) (3,807) - -
Reversal of impairment of right-of-use assets - (7,968) - -
Property, plant and equipment written off 2,654 1,393 - -
Rent concession - (219) - -
Amortisation of intangible assets 4,690 5,709 1,424 1,474
Amortisation of advance payment - 2,204 -
Loss on disposal of asset held for sale - 12 - -
Unrealised loss on sugar future contracts 963 - - -
Unrealised loss on brent crude oil forward option 2,133 - - -
Unrealised (gain)/loss on foreign currency
exchange translation (1,506) 2,627 - -
Unrealised (gain)/loss on foreign currency
exchange forward contracts (276) 929 - -
Asset held for sale written-off - 387 - -
Inventories written down to net realisable
value during the financial year 13,436 65 - -
Reversal of prior year inventories written
down to net realisable value (65) - - -
Gain on disposal of a subsidiary (6,287) - (28,781) -
Dividend income - - (186,000) (75,000)
Interest income (2,587) (3,835) (44,968) (49,803)
Interest expense 47,045 36,784 42,387 28,909
Impairment loss of investment in a subsidiary - - - 27,362
Impairment loss/(reversal of impairment)
loans due from subsidiaries - - 13,433 (419)
Impairment of trade and other receivables 4,835 7,219 - -
Reversal of impairment loss of amount due from
related company (3,200) (654) - -
Inventories written off 6,081 1,376 - -
Allowance for inventory obsolescence 10,957 18,545 - -
Zakat 1,000 1,486 - -
Ineffective portion of cash flow hedge (830) 417 (830) 417
Non-Cash item from continuing operations 183,351 169,968 (207,519) (50,777)
Non-Cash item from discontinued operations 16(iii) (87,098) 73,503 - -
Operating profit/(loss) before changes in working capital 221,606 172,243 (6,624) (3,459)