STATEMENTS OF FINANCIAL POSITION ‘As At 3st Decomber, 2019 Group ‘Company Note 2019 2018 2019 2018 RM RM RM RM ASSETS Non-current assets Property, plant and equipment 4 140,052,659 160,617,955 22,500 26,100 Right-of-use assets 5 2,045,909 - - - Investment properties 6 1,712,608 = Investment in subsiciaries 7 = 462,864,498 Other investments 8 11,562,766 - Intangible assets 9 958,208,840 253,159,228 - - Deterred tax assets 10 515,671 602.969 - ~ Trade and other receivables 11 191,203,867 166,278,121 - - 700,302,220 691,448,094 462,886,983 462,890,592 Current assets Inventories 12 171,868,142 104,366,408 - Tiade and ether receivables 11 307,202,877 241,791,753 182,275,127 Contract assots 13 41,643,009 39,157.80 = a. Tax recoverable 792,303 715.572 86,783, 77,485 Cash andl bank balances 16 282,949,670 257,635,237 119,489,486 «62,883,045 724,451,001 699,606,770 271,821,346 250,612,778 TOTAL ASSETS 1,424,753,2211,981,114,864 784,708,338 713,508,306 EQUITY AND LIABILITIES. holders of the Company Share capital 17 42,658,906 642,658,206 642,658,306 642,658,200 Treasury shares 18 (10,893,186) (8,056,108) (10,893,186) (8,056,108) Reserves 19 685,799 675,708 - - Retained oroft 498,502,188 341,474,802 74,918,854 72,826,097 1,070,958,107 976,752,708 703,688,974 707,428,295 Non-controling interests 2,080,099 2,001,858 - = TOTAL EQUITY 1,073,094,106 8,754,565 708,683,974 707,428,295 Non-current liabilities. Deferred tax labiities 10 7,945,078 7,613,087 - - Trade and other payables 20 122,990,615 59,506,826 - - Lease lables a 1,998,215 - - - 192,873,908 67,119,863 - - e KERJAYA PROSPEK GROUP BERHAD 198401010054 (122692-U)] ANNUAL REPORT 2019Statements of Financial Position (Cont'd) Group Company Note 2019 2018 2019 2018 RM RM RM aM Current liabilities Trade and other payables 20 183,884,773 183,159,408 31,024,365, 6.075.071 Contract labiltes 18 30,476,208 93,196,579 - - ‘ease labios 2 "102,908 - - : Income tax payable 11,518,371 8,760,981 - - Short term borrowing 22 22,862,948 60,123,470 - - 218,845,207 285,240,496 31,024,365 6.075.071 TOTAL LIABILITIES 351,719,115 952,960,209 31,024,865 6.075.071 TOTAL EQUITY AND LIABILITIES 1,424,753,2211,991,114,964 784,708,339 713,503,386STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the Year Ended 318t Docomber, 2019 Group ‘Company Note 2019 2018 2019 2018 RM RM RM RM Revenue 23 1,085,276,023 40,000,000 80,000,000 Cost of salos 24 (838,604,905) - Gross proft| 216,671,118 208,408,754 40,000,000 80,000,000 ther operating income 25 19,696,906 18,978,105, 2,932,747 3,734,373 230,308,024 224,781,859 42,992,747 83,734,078 Administrative expenses (33,878,862) 1,787,021 (611,293) (1,016,344) Other operating expenses (0,652,864) |—_(13,127.087) (24,328) 63,458) Profit rom operations 186,776,798 179,887,450 42,287,126 82,084,574 Finance costs 26 (885,629) - - Profit before taxation 27 195,891,169 179,680,769 42,207,126 «82,684,574 Taxation 30 (48,641,068) (41,930,699) (61,422) - Proft after taxation 140,250,106 138,399,070 42,245,704 82,684,574 Other comprehensive expenses: Item that is or may be eclassifiad subsequently to proft or loss - Foreign currency transbation 19 10,090 3.518) - - Total comprehensive income for the year 140,260,196 138,290,562 42,245,704 Profit forthe year attributable to: Owmers of the Company 140,180,333 138,198,993 Non-controling interest 69,773 140,077 140,250,106 138,339,070 Total comprehensive income altributable to Owners of the Company 140,190,428 138,150,475 Non-controling interest 69,773 140.077 140,260,196 altributable to Owners of the Company (sen) a 11.36 13 Diluted earnings per share (senj 31 10.01 The annexed notes form an integral part of Q srs mrosrexonove sem 1 1280 fancial statements. 164 (122692-U) # ANNUAL REPORT 2019STATEMENTS OF CHANGES IN EQUITY For the Year Ended 31st ON'PEO'CLO'L — Ge6'oR0'z set'zos‘ecy —66z'se9 (esi'ces'ot) —s0e"ssa'z¥0 (uvezsi'ey) —- Ure'zsi'ey) - - - ze (ezouse'z) - = - (euo'uee'z) - oue's one's - - = - 96F'09z'ort —ELL'69 SeC'osl'ort ©0600 - - ses'rsz'ez6 —9se'L00'2 Zoe'vy'tys —601'S19 (eo1'ss0's) 908'es9'Z¥9 - (oss'ie'r2)- - - ze = - (e01-o90'a) - ees'a6i'se: —(ais'at) - - eee OV'eeZ Leave - s0e'eso'ere (6 oven) (eL e10Nn) wa wu we we wu reve, yso10qu wold poureoy sonosoy, reudeo *10N Buonuos-uon oueus << aqeinguysig—¥» 9 <——— ayqeynquys1p-uoy ————> KERJAYA PROSPEK GROUP BERHAD 198401010¢Statements of Changes In Equity (Cont'd) vie'ego'con =~ vse'siels - (esi'ces‘oL) —s0e"ssa'z¥0 (urezsi'ey) = Ure'zsi'er) - - - ze (ezouse'z)- = - (euouee'z) - vol'see'ty = vol'swe'ty - - sez'ez'son - teo'szezL 0 - (eo1's0's) 90e'eso'Z¥9 ‘8103 ieqweceq 3 (oss‘see've) (oes'iea've) - - - ze red puoping ‘g01'990'8) - - - (a01'os0'a) - sarays Ainsean jo aseyindoy ys yeo%e visivesi@s ~ - - eiy'beg'ss9- eieedeyh = - s0e'ean'ene fuedweg (6 oven) (eh o10Nn) wu wa w woud pouroy sonosoy, o10N uo2-UON /S0SsO] peyeinuinsoy << arqeinguysig—_§$> << eigeynquasip-uoy ——>STATEMENTS OF CASH FLOWS. For the Year Ended 31st December, 2019 Group Company Note 2019 2018 2019 2018 RM RM RM RM CASH FLOWS FROM ‘OPERATING ACTIVITIES Profit before taxation 195,991,169 179,669,769 42,207,126 82,684,574 ‘Adjustments for ‘Arrottisation of intangible asset 32,420 31,120 - - ‘Amortisation of right-of use assets 1,253,351 - ‘Allowance/(Peversal) for impairment lossas on - trade and other receivables 2,715,082 - ~ cash and bank balances (097,568) 11,360 1.276 Bad dobt writen off = = Dapreciation of property, plant and equipment 36,379,274 3,600 3,600 Depreciation of investment properties 31,470 - = Dividend income - (40,000,000) (80,000,000) Interest ineame (6,002,364 5,298,041) (2,697,664) (2.807.390) Interest expenses 18 217.681 - = Lease interest 169,911 - - - Gain on cisposal of property, plant and equipment, nvestment properties and inventories (Net) (192,797) (765,928) - - Loss on disposal of other rwvestment 72,856 - Not fair value ajustments = 2,705,240, = Allowance for diminution of investment 7,221,850 4,819,762 - - Reversal of allowance for ‘doubtful cobts - - (97.317) Property, plant and equipment writen off 54,036 - - Realsed gain on foreign ‘exchange - ® - - Operating proft(tess) before ‘working captal cranges 228,190,072 218,042,188, (385,578) 715,268), (inctease)/Decrease in inventories: = property development costs (62,456,419) (45,136,930) - - others (70,404) 359,499, - - invesimont proportios 11,516,984 (03,495,704) - {increase/Decrease in trade and other receivatles (01,731,793) (49,192,221 36,277,148 (67,276,268) Decrease in contract assets 27514,791 21,086,563 - = Increase in trade and other payables 5,420,268 © 46,511,812 6,456,124 2,615,183, Decrease in contract labios (2,720,370) (43,784,549) = = Cash generated fron/lused in) ‘operations 125,663,079 119,251,153 41,347,692 (65,976,351) est received 6,002,364 5,398,041 21697,664 2,207,399 Interest paid 715,718) - - Income taxas rafund 1,610,126 - 62,474 Income taxes patd (44,399,143) (43,984,040) (23,224) (40.984) Net cash generated fronv(used in) operating activities 88,160,708 80,547,473 44,084,606 (62,609,086)Statements of Cash Flows (Cont'd) Group ‘Company Note 2019 2018 2019 2018 RM RM RM RM CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property, plant ‘and equipment (85,704,637) (60,195,299) - - Purchase of other investment (11,641,520) - - - Acquistion of subsidiary A (1,844,053) - - - Uplit of/Placement in} deposits in licensed barks 12,347,158 (8,766,594) (76,838) - Proceed ftom disposal of proper plant and equipment 5,876,450 9,698,811 - - Proceed trom disposal of other investment 296,516 - - - Dividend received, net - = 40,000,000 20,000,000 Nat cash (used inV/generated from investing activities (29,570,086) (44,208,082) 99,923,162 80,000,000 CASH FLOWS FROM FINANGING ACTIVITIES Dividend paid (24,859,777) (24,831,590) (24,689,777) (24,831,590) Purchase of treasury shares (2,897,078) (8,056,108) (2,887,078) (8,086,108) Repayment of lease lables (1,368,048) - - - Not cash used in financing activites (28,864,903) (22,887,098) (27,496,855) (62,887,698) Not increase in cash and cash equivalents 29,725,719 3,451,093 56,510,818 (15,497.64) Etfoct of forcign exchange rate changes 98,828 (197) - (Changes in expacted creat loss (EOL for cash and cash equivalents 97,568 (121,846) (11,360) (1.276) Gash andl cash equivalents at beginning of year 166,532,880 162,209,220 62,883,045 78,381,055 Gash andl cash equivalents at end of year B 196,454,095 160,592,880 119,982,598 62,882,045 e KERJAYA PROSPEK GROUP BERHAD 198401010054 (122602-U)]¢ ANNUAL REPORT 2019Statements of Cash Flows (Cont'd) ACQUISITION OF SUBSIDIARY Group 2019 2018 RM PM Total cost of acquisition 41,380,000 Less: Non-cash consideration - Consideration settled in cash 41,850,000 Cash and cash equvvalents of subsidiary acquired 6.947) Net cash outfow of the Group on acquisition 1,344,053 CASH AND CASH EQUIVALENTS Cash and cash equivalents inclided in the statements of cash flows comprise the folowing statements of fancial postion amounts: Group Company 2019 2018 2019 2018 RM RM RM RM Cash anc! bank balances 282,973,948 252,757,083 119,472,072 62,884,321 Less: Alowance for ECL (24,278) (121,846) (12,636) (1.276) Deposits pledged with Tleensed banks (13,631,728) (25,978,887) (76,838) - Short term borrowing (22,862,946) (60,123,470) = - 196,454,995 166,592,880 119,982,598 62,889,045