Total comprehensive (loss)/income,
net of tax
–
–
–
(23,679,010)
90,986,504
67,307,494
Transactions with owners
Dividends paid
31
–
–
–
–
(11,947,946)
(11,947,946)
Transfer pursuant to Companies
Act 2016*
17
1,792,138
(1,792,138)
–
–
–
–
Balance as at 31 December 2017
121,831,751
–
(5,194,748)
37,073,460
325,882,818
479,593,281
STATEMENTS OF CHANGES IN EQUITY
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
(CONT’D)
GUAN CHONG BERHAD
/
ANNUAL REPORT 2018
56
<-------Non-distributable------> Distributable
Share
Share
Treasury
Retained
capital
premium
shares
earnings
Total
Company
Note
RM
RM
RM
RM
RM
Balance as at 1 January 2017
120,039,613
1,792,138
(5,194,748)
33,947,756
150,584,759
Loss for the financial year
–
–
–
(11,435,480)
(11,435,480)
Other comprehensive income,
net of tax
–
–
–
–
–
Total comprehensive loss,
net of tax
–
–
–
(11,435,480)
(11,435,480)
Transactions with owners
Dividends paid
31
–
–
–
(11,947,946)
(11,947,946)
Transfer pursuant to Companies
Act 2016*
17
1,792,138
(1,792,138)
–
–
–
Balance as at 31 December 2017/
Balance as at 1 January 2018
121,831,751
–
(5,194,748)
10,564,330
127,201,333
Profit for the financial year
–
–
–
846,508
846,508
Other comprehensive income,
net of tax
–
–
–
–
–
Total comprehensive profit,
net of tax
–
–
–
846,508
846,508
Transactions with owners
Dividends paid
31
–
–
–
(9,556,095)
(9,556,095)
Purchase of treasury shares
18
–
–
(152,301)
–
(152,301)
–
–
(152,301)
(9,556,095)
(9,708,396)
Balance as at 31 December 2018
121,831,751
–
(5,347,049)
1,854,743
118,339,445
*Pursuant to the Companies Act 2016, the credit balance in the share premium account has been transferred to
the share capital account.
STATEMENTS OF CHANGES IN EQUITY
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
(CONT’D)
The accompanying notes form an integral part of the financial statements.
GUAN CHONG BERHAD
/
ANNUAL REPORT 2018
57
Group
Company
2018
2017
2018
2017
Note
RM
RM
RM
RM
CASH FLOWS FROM
OPERATING ACTIVITIES
Profit/(Loss) before tax
208,721,693
113,440,430
846,508
(11,435,480)
Adjustments for:
Amortisation of:
- leasehold land
9
547,330
588,040
–
–
- warehouse
9
259,191
259,191
–
–
- intangible asset
10
856
1,230
–
–
Bad debts written off
8,083
58,169
7,267
–
Depreciation of:
- property, plant and equipment
7
25,999,541
24,901,405
–
–
- investment properties
8
996,061
1,015,411
–
–
Impairment loss on:
- trade receivables
14(h)
14,436,458
4,819,888
–
–
- other receivables
14(h)
–
3,712,173
–
–
Loss/(Gain) on disposals of
property, plant and equipment
96,772
(424,900)
–
–
Negative goodwill
11
-
(256,827)
–
–
Net fair value (gain)/loss on
derivatives
15(d)
(21,680,426)
(9,426,665)
–
–
Increase in defined benefit
obligation
23(d)
175,515
285,013
–
–
Property, plant and equipment
written off
34
2,166,051
–
–
Reversal of impairment loss on:
–
–
- trade receivables
14(h)
(82,860)
(281,573)
–
–
- other receivables
14(h)
(12,143)
–
–
–
Share of (profit)/loss of
associates
(1,054,438)
739,161
–
–
Unrealised (gain)/loss on foreign
exchange translations
(7,369,779)
(13,084,873)
(1,367,016)
8,835,333
Inventories written down
13(b)
7,931,810
2,929,817
–
–
Interest expense
27,261,527
23,151,839
–
–
Interest income
(444,922)
(583,842)
–
–
Operating profit/(loss) before
changes in working capital
255,790,303
154,009,138
(513,241)
(2,600,147)
STATEMENTS OF
CASH FLOWS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
GUAN CHONG BERHAD
/
ANNUAL REPORT 2018
58
Group
Company
2018
2017
2018
2017
Note
RM
RM
RM
RM
Operating profit/(loss) before
changes in working capital
carried forward
255,790,303
154,009,138
(513,241)
(2,600,147)
Inventories
(7,044,023)
(173,952,684)
–
–
Trade and other receivables
(78,485,312)
(48,436,044)
(5,656,955)
32,972,965
Trade and other payables
163,171,497
29,563,875
20,213,548
4,250,322
Net cash generated from/
(used in) operations
333,432,465
(38,815,715)
14,043,352
34,623,140
Interest paid
(27,261,527)
(23,151,839)
–
–
Interest received
444,922
583,842
–
–
Tax paid
(8,270,734)
(8,047,836)
(3,080)
(3,367)
Tax refunded
4,196,813
28,122
6,800
–
Contributions paid for defined
