The above table is summary of cashflow and income statement from Wong Engineering's quarterly report.

For the amount highlighted in red, it indicate that a wrong decision make by the company (proven by fact as for now) to use the company extra fund to invest into another company share. The total investment as at Q4 is RM1.374Mil (highlighted in Red) and it make a losses of RM574K which result in a one off  fair value loss in Q4 result. The loss is 42% (574/1374) of initial investment which is a big failaure investment.

It suspect that the money is use to invest in share of KESM as the CEO also holding the share of the company which KESM share price is down from highest around RM22 to somewhere below RM8 now. As as end of Oct, KESM is close at RM10, which means it may have further fair value loss if the share price of KESM remain weak.

From the above table, It show a trend of accounting profit is going downward. (highlighted in Orange)

The net profit for Q1 of 4 Mil+ go down to remain 1 Mil+ in Q4 2018.

Exclude all the one off item and tax factor, the PBT also in downtrend from 1.9Mil+ to remain 800K+ from Q1 to Q4.

However, when we compare the cash flow generated from operating activity, we can see a reserve of the trend. (highlighted in Yellow)

The cash flow from operating activity is been going up trend from Q1 to Q4 which increase from 1.3Mil+ to 3.9Mil+ from Q1 to Q4.

Which if we make a comparison with the core PBT, we will see from Q2 onward, the company generated more cash from its operation activity than it presented in accounting profit. (highlighted in Blue)

Cash is king for a business. Accounting profit is just an regulatory way of presentation.

A company can generate a consistent operating cash flow higher than accounting profit can slowly turning to become a cash generating machine. 

P/S : To the BOD, please use the cash wisely for the expansion and growth the business instead of speculation the surplus fund into the volatile share market.