FGV Audited Financial Statements 2019

222 FGV HOLDINGS BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 62 EFFECTS OF CHANGE IN ACCOUNTING POLICY (CONTINUED) Impact on change in accounting policy on statements of cash flows (continued) Company (RM’000) Effects on current year Financial year ended 31 December 2019 Restatement of comparative figures Financial year ended 31 December 2018 Previous policy Effects of MFRS 16 adoption As presented As previously stated Effects of MFRS 16 adoption Restated (Loss)/profit for the financial year (79,216) (878) (80,094) 143,954 400 144,354 Taxation 28,482 (277) 28,205 (27,841) 126 (27,715) Depreciation of right-of-use assets - 4,361 4,361 - 5,809 5,809 Termination of lease contracts - - - - (1,025) (1,025) Finance expense 130,427 1,819 132,246 93,653 1,257 94,910 Net cash used in operating activities (103,054) 5,025 (98,029) (116,803) 6,567 (110,236) Cash flows from financing activities Payment of lease liabilities - (5,025) (5,025) - (6,567) (6,567) Net cash used in financing activities (43,815) (5,025) (48,840) (211,703) (6,567) (218,270) 63 APPROVAL OF FINANCIAL STATEMENTS The financial statements have been approved for issue in accordance with a resolution of the Board of Directors on 17 April 2020.