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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net profit $ 338,744 $ 1,069,644
Adjustments to reconcile net profit to net cash generated from operating activities:    
Amortization of right of use asset 4,434 2,865
Depreciation of property, plant and equipment 10,622 10,278
Dividend income (1,006) (179)
Fair value gain on other investments (8,264) 0
Gain on disposal of property, plant and equipment 0 (710,172)
Operating profit before working capital changes 344,530 372,436
Changes in operating assets and liabilities:    
Inventories (293,022) 1,258
Trade and other receivables 402,845 163,791
Trade and other payables (299,619) (1,470,936)
Operating lease liabilities (6,375) (3,944)
Tax recoverable (32,931) (39,953)
Cash generated from/(used in) operating activities 115,428 (977,348)
Cash flows from investing activities:    
Acquisition of other investment (296,025) (101,498)
Dividend income 1,006 179
Net cash from acquisition of business under common control 0 346,008
Purchase of plant and equipment (807) (307)
Proceeds from disposal of property, plant and equipment 0 1,467,865
Net cash (used in)/ generated from investing activities (295,826) 1,712,247
Cash flows from financing activities:    
Repayment of finance lease (8,550) (6,399)
Net cash used in from financing activities (8,550) (6,399)
Foreign currency translation adjustment (124,085) (190,829)
NET CHANGE IN CASH AND CASH EQUIVALENTS (313,033) 537,671
CASH AND CASH EQUIVALENTS, BEGINNING OF FINANCIAL YEAR 2,787,692 859,076
CASH AND CASH EQUIVALENTS, END OF FINANCIAL YEAR 2,474,659 1,396,747
CASH AND CASH EQUIVALENTS INFORMATION:    
Fixed deposits placed with financial institutions 1,621,461 503,188
Cash at bank 853,198 893,559
Cash and cash equivalents, end of financial year 2,474,659 1,396,747
Supplementary cash flow information:    
Interest paid (3,358) (3,026)
Income taxes paid $ (36,438) $ (57,069)