Fraser & Neave Holdings Bhd Annual Report 2021

Group Company Note 2021 RM’000 2020 RM’000 2021 RM’000 2020 RM’000 Cash flows from operating activities Profit before tax 479,411 522,911 247,619 293,085 Adjustments for: Amortisation of intangible assets 7 2,084 1,799 – – Bad debts recovered 25 (31) (30) – – Change in fair value of investment properties 5 – 1,206 – – Depreciation of property, plant and equipment 3 108,677 104,907 – – Depreciation of right-of-use assets 4 25,094 25,865 – – Dividend income 21 – – (240,707) (278,256) Employee benefits expense 18 2,709 4,739 – – Finance income 22 (4,970) (5,068) (11,039) (20,315) Finance costs 23 3,179 4,858 1,317 – Gain on disposal of intangible assets 25 – (7,805) – – Gain on lease termination/modification (56) (32) – – Impairment loss: – Investments in subsidiaries 8 – – – 1,380 – Plant and equipment 3 3,043 582 – – Net loss on disposal of plant and equipment 25 46 594 – – Plant and equipment written o! 25 373 458 – – Property development costs written o! 6 25 1,089 – – Reversal of impairment loss on plant and equipment 3 (666) (538) – – Employee share-based expense 25 4,062 7,952 – – Share of profit of equity-accounted associate, net of tax 9 (5,624) (7,824) – – Share of loss of equity-accounted joint venture, net of tax 10 290 283 – – Operating profit/(loss) before changes in working capital 617,646 655,946 (2,810) (4,106) Changes in working capital: Changes in inventories 4,358 (77,577) – – Changes in contract liabilities (1,972) 3,367 – – Changes in trade and other payables 33,933 (148,109) (4,188) 84,739 Changes in trade and other receivables 53,813 9,930 322,109 (70,229) Cash generated from operations 707,778 443,557 315,111 10,404 Employee benefits paid 18 (6,212) (3,880) – – Tax paid (84,964) (108,574) (22,595) (25,276) Tax refunded 495 11,500 72 – Net cash from/(used in) operating activities 617,097 342,603 292,588 (14,872) 172 Statements of Cash Flows for the financial year ended () September *)*+