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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net profit $ 367,006 $ 1,033,803
Adjustments to reconcile net profit to net cash generated from operating activities:    
Amortization of right of use asset 8,861 5,171
Depreciation of property, plant and equipment 46,022 20,259
Dividend income (41,238) (1,578)
Fair value loss on other investments 18,581 0
Loss on disposal of other investments 0 9,890
Gain on disposal of property, plant and equipment 0 (707,618)
Operating profit before working capital changes 399,323 359,927
Changes in operating assets and liabilities:    
Inventories (526,966) (28,266)
Trade and other receivables 109,439 968,071
Trade and other payables (834,925) (2,382,727)
Operating lease liabilities (10,921) (6,868)
Tax recoverable 44,249 (44,683)
Cash used in operating activities (819,892) (1,134,546)
Cash flows from investing activities:    
Acquisition of other investment (371,759) (109,126)
Dividend income (others) 41,238 1,578
Net cash from acquisition of business under common control 0 346,008
Purchase of plant and equipment (1,473) (305)
Proceeds from disposal of other investments 6,466 26,089
Proceeds from disposal of property, plant and equipment 0 1,467,865
Net cash (used in)/ generated from investing activities (325,528) 1,732,109
Cash flows from financing activities:    
Repayment of finance lease (15,346) (9,011)
Repayment from Directors (1,836) (378)
Net cash used in from financing activities (17,182) (9,389)
Foreign currency translation adjustment (142,385) (160,139)
NET CHANGE IN CASH AND CASH EQUIVALENTS (1,304,987) 428,035
CASH AND CASH EQUIVALENTS, BEGINNING OF FINANCIAL YEAR 2,787,692 859,076
CASH AND CASH EQUIVALENTS, END OF FINANCIAL YEAR 1,482,705 1,287,111
CASH AND CASH EQUIVALENTS INFORMATION:    
Fixed deposits placed with financial institutions 1,059,812 783,923
Cash at bank 422,893 503,188
Cash and cash equivalents, end of financial year 1,482,705 1,287,111
Supplementary cash flow information:    
Interest paid (6,837) (4,406)
Income taxes paid $ (44,249) $ (44,683)