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v3.24.2.u1

Interim Condensed Consolidated Statements of Cash Flows (Unaudited) | 6 Months Ended
--- | ---
Jun. 30, 2024 MYR (RM) | Jun. 30, 2024 USD ($) | Jun. 30, 2023 MYR (RM) | Jun. 30, 2023 USD ($)
Operating activities |  |  |  |
Profit before income tax | RM 26,240,099 | $ 5,562,643 | RM 20,680,347 | $ 4,430,332
Adjustments for: |  |  |  |
Impairment allowance of trade receivables | 368,459 | 78,110 |  |
Reversal on impairment allowance of trade receivable | (64,384) | (13,649) |  |
Bad debt written-off | 889 | 189 |  |
Unrealised foreign exchange loss/(gain) | (95,198) | (20,182) | 805,197 | 172,498
Depreciation of property and equipment | 178,319 | 37,802 | 115,727 | 24,792
Depreciation of ROU | 332,249 | 70,433 | 158,698 | 33,998
Share based payment – Director fees | 5,969,038 | 1,265,377 |  |
Gain on disposal of investment |  |  | (780,319) | (167,167)
Interest expense | 28,786 | 6,102 | 15,875 | 3,401
Interest income | (3,771) | (799) | (942) | (202)
Operating cash flow before movement in working capital | 32,954,486 | 6,986,026 | 20,994,583 | 4,497,652
Trade and other receivables | (27,164,496) | (5,758,606) | (40,216,809) | (8,615,611)
Loan receivables | (26,570,247) | (5,632,631) |  |
Trade and other payables | 1,642,931 | 348,285 | 2,551,187 | 546,538
Cash used in operations | (19,137,326) | (4,056,926) | (16,671,039) | (3,571,421)
Interest received |  |  |  |
Income tax paid | (371,443) | (78,742) | (509,142) | (109,073)
Net cash used in operating activities | (19,508,769) | (4,135,668) | (17,180,181) | (3,680,494)
Investing activities |  |  |  |
Purchase of property and equipment | (746,681) | (158,289) | (645,919) | (138,375)
Purchase of intangible assets | (3,137,840) | (665,191) |  |
Interest received | 3,771 | 799 | 942 | 202
Acquisition of financial assets measured at fair value through other comprehensive income | (26,888,040) | (5,700,000) |  |
Proceeds from disposal of financial assets measured at fair value through other comprehensive income | 9,011,505 | 1,910,350 | 13,600,066 | 2,913,530
Net cash used in investing activities | (21,757,285) | (4,612,331) | 12,955,089 | 2,775,357
Financing activities |  |  |  |
Proceeds from issuance of share capital | 30,527,043 | 6,471,433 |  |
Proceeds from initial public offering, net of issuance costs |  |  | 17,457,899 | 3,739,990
Proceeds from following public offering, net of issuance costs | 10,915,837 | 2,314,050 |  |
Interest paid | (28,786) | (6,102) | (15,875) | (3,401)
Repayment of other borrowings | (77,519) | (16,433) | (101,132) | (21,665)
Advance to related parties | (1,300,359) | (275,663) | (1,568,941) | (336,113)
Repayment of operating lease | (318,225) | (67,461) | (159,371) | (34,142)
Contribution from non-controlling interest | 618,924 | 131,206 |  |
Net cash generated from financing activities | 40,336,915 | 8,551,030 | 15,612,580 | 3,344,669
Net decrease in cash and cash equivalents | (929,139) | (196,969) | 11,387,488 | 2,439,532
Effect of foreign exchange | 2,164,575 | 431,472 | (54,622) | (11,702)
Cash and bank balances at beginning of the period | 4,637,279 | 1,010,455 | 3,995,995 | 856,058
Cash and bank balances at end of the period | RM 5,872,715 | $ 1,244,958 | RM 15,328,861 | $ 3,283,888

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