FGV HOLDINGS BERHAD | AUDITED FINANCIAL STATEMENTS 2023 21 Group Company Note 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 CASH FLOWS FROM OPERATING ACTIVITIES (CONTINUED) Balance brought forward 1,207,086 2,780,153 137,777 614,245 (Gain)/loss on liquidation of a subsidiary (786) 290 - - Loss on disposal of subsidiaries 2,234 - - - Realisation of foreign exchange loss/(gain) upon liquidation of a subsidiary 970 (1,881) - - Realisation of foreign exchange loss upon disposal of subsidiaries 6,362 - - - Loss on disposal of biological assets 1,014 619 - - Biological asset written off 79 25 - - (Reversal of impairment)/impairment loss on receivables (net) (2,733) 13,443 - - Inventories written off 5,136 8,694 - - Share of results from associates 1,498 (2,658) - - Share of results from joint ventures (24,836) (146,164) - - Net unrealised foreign exchange loss/(gain) 2,668 3,096 294 (5,088) Dividends from subsidiaries - - (199,756) (704,614) Dividend income from financial assets at fair value through other comprehensive income (3,258) (7,046) - - Finance costs 125,154 126,510 84,443 96,002 Finance income (35,123) (26,256) (1,141) (69) Other losses, net 108,738 364,756 - - Fair value changes in biological assets (net) 25,885 27,381 - - Provision for defined benefit plan 17,837 5,436 384 74 Termination of lease contracts (net) 299 326 - - Provision for asset retirement - (10,116) - - Unwinding of discount for provision for asset retirement 418 421 - - Provision for remediation of recruitment fees - 112,000 - - Operating profit before working capital changes 1,438,642 3,249,029 22,001 550 STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
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