FGV Annual Report 2016

ANNUAL INTEGRATED REPORT 2016 337 FINANCIAL REPORT NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016 58 RESTATEMENT AND EFFECTS OF CHANGE IN ACCOUNTING POLICY (CONTINUED) Impact of change in accounting policy and fraud losses on Statements of Cash Flows Financial year ended 31 December 2016 Financial year ended 31 December 2015 Previous policy RM'000 Effects on current year As presented RM'000 Previous policy RM'000 Adjustments As restated RM'000 (a) RM'000 (b) RM'000 (a) RM'000 (b) RM'000 Profit for the financial year 19,495 63,087 (16,123) 66,459 301,277 76,227 (10,380) 367,124 Taxation 153,466 22,612 - 176,078 128,433 7,738 - 136,171 Depreciation of property, plant and equipment 444,372 233,420 - 677,792 459,008 160,783 - 619,791 Property, plant and equipment written off 6,510 11,463 - 17,973 30,280 7,281 - 37,561 Biological assets consumed - - - - 26,049 (26,049) - - Amortisation of biological assets - 128 - 128 - 150 - 150 Accelerated depreciation of biological assets - - - - 6,055 (6,055) - - Biological assets written off 68 - - 68 2,350 (2,301) - 49 Share of results from joint ventures 3,355 - 16,123 19,478 (50,402) - 10,380 (40,022) Net cash generated from/(used in) operating activities 786,877 330,710 - 1,117,587 (470,869) 217,774 - (253,095) Investing activities Purchase of property, plant and equipment (612,067) (330,710) - (942,777) (830,948) (312,665) - (1,143,613) Additions of biological assets (128) - - (128) (95,015) 94,891 - (124) Net cash used in investing activities (400,738) (330,710) - (731,448) (1,280,942) (217,774) - (1,498,716)