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FOCUS DYNAMICS GROUP BERHAD (Registration No: 200201015261 (582924-P))
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE FIFTH QUARTER ENDED 31 MARCH 2022
UNAUDITED AUDITED
15 MONTHS 12 MONTHS
ENDED ENDED
31/03/2022 31/12/2020
RM RM
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax (335,744) 21,983,814
Adjustments for:
Depreciation of right-of-use assets ("RUA") 1,322,701 1,352,411
Bad debts written off - 955,700
Bargain purchase on investment in associate (20,165,952) -
Depreciation of property, plant and equipment ("PPE") 5,645,760 4,823,624
Deposit received 193,408 -
Deposits written-off - 14,000
Dividend income (39,412) (3,545)
Fair value loss/(gain) on market securities 14,850,928 (5,337,547)
Gain on disposal of PPE (163,406) -
Gain on disposal of RUA (40,429) -
Gain on lease liabilities written-off due to early termination - (3,363)
Impairment on receivables:
- trade receivables 65,727 162,315
- other receivables - 4,000
Impairment on investment in joint venture - 45
Interest expenses on lease liabilities 890,493 704,690
Interest expense 57,956 55,927
Interest income (2,421,364) (141,618)
Property, plant and equipment written-off (net) 82,163 648,407
Reversal of Impairment on:
- trade receivables - (1,432,053)
- other receivables - (295,200)
- amount due from related parties - (938,400)
Share of loss on investment in joint venture 12,119,260 497,890
Unrealised foreign exchange loss - 43
Operating profit before working capital changes 12,062,089 23,051,140
(Increase)/Decrease in Inventories 289,946 4,201,545
(Increase)/Decrease in receivables (15,385,515) 1,039,723
(Decrease)/Increase in payables 7,911,159 9,865,913
(Increase)/Decrease in amount due from joint venture 14,562 65,606
Increase in amount due from related parties - (200,000)
Increase in amount due to related parties 2,000,000 2,537,819
Cash generated from operations 6,892,241 40,561,746
Interest received - other than fixed deposits 2,372,030 96,511
Interest paid (57,956) (55,927)
Income tax paid (10,034,152) (3,993,120)
Income tax refunded - 17,530
Net cash generated from operating activities (827,837) 36,626,740
CASH FLOWS USED IN INVESTING ACTIVITIES
Acquisition of a subsidiary, net of cash and cash
equivalents acquired - 40,000
Addition to prepaid expenses (13,921,212) (4,421,257)
Addition of RUA - -
Dividend income 39,412 3,545
Purchase of PPE (13,243,309) (2,575,642)
Proceeds from disposal of PPE 198,399 -
Proceeds from disposal of RUA 100,000 -
Increase in fixed deposits pledged (23,553) (26,467)
Interest received - fixed deposits 49,334 45,107
Investment in associates (81,707,079) -
Investment in quoted shares (9,816,362) (17,351,646)
Net cash used in investing activities (118,284,370) (24,326,360)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of irredeemable convertible
preference shares (“ICPS”) 108,856,522 -
Proceeds from issuance of share capital 59,905,097 12,597,358
Interest paid on lease liabilities (683,750) (704,690)
Repayments of lease liabilities (890,633) (390,430)
Net cash generated from financing activities 58,330,714 120,358,760
Net (decrease)/increase in cash and cash equivalent (60,781,493) 132,659,140
Cash and cash equivalent at beginning of period 137,195,173 4,546,890
Effect of foreign currency translation 55,458 (10,857)
Cash and cash equivalent at end of period 76,469,138 137,195,173
Cash and cash equivalent comprise:
Cash and bank balances 74,129,470 132,238,857
Short-term investments 2,058,200 4,722,356
Fixed deposits with licensed banks 2,929,642 2,880,307
Bank overdraft (1,202,915) (1,224,641)
138,616,879 77,914,397
Less: Fixed deposits pledged to licensed bank (1,445,259) (1,421,706)
76,469,138 137,195,173
- -
NOTES:
1.
2.
CUMULATIVE QUARTERS
The Unaudited Condensed Consolidated Statement of Cash Flows should be read in conjunction with the Annual
Audited Financial Statements for the financial year ended 31 December 2020 and the accompanying explanatory
notes to this Interim Financial Statements.