7 129 128 Statements of Cash Flows for the year ended 31 March 2023 NOTES TO THE STATEMENTS OF CASH FLOWS (CONTINUED) (iv) Reconciliation of movement of liabilities to cash flows arising from financing activities At 1.4.2021 RM’000 Net changes from financing cash flows RM’000 Acquisition of new leases RM’000 Termination of lease contracts RM’000 Foreign exchange movement RM’000 At 31.3.2022/ 1.4.2022 RM’000 Group Term loans 839,876 (128,574) - - 9,264 720,566 Lease liabilities 166,191 (28,844) 36,921 (2,709) - 171,559 Hire purchase liabilities 124 (124) - - - - Revolving credit 50,177 (20,539) - - (101) 29,537 Supplier factoring facilities 58,471 (32,910) - - - 25,561 Total liabilities from financing activities 1,114,839 (210,991) 36,921 (2,709) 9,163 947,223 At 31.3.2022/ 1.4.2022 RM’000 Net changes from financing cash flows RM’000 Acquisition of new leases RM’000 Termination of lease contracts RM’000 Remeasurement of leases RM’000 Foreign exchange movement RM’000 At 31.3.2023 RM’000 Group Term loans 720,566 (283,114) - - - 43,012 480,464 Lease liabilities 171,559 (29,141) 64,500 (2,896) 6,755 - 210,777 Revolving credit 29,537 25,707 - - - (29) 55,215 Supplier factoring facilities 25,561 (624) - - - - 24,937 Total liabilities from financing activities 947,223 (287,172) 64,500 (2,896) 6,755 42,983 771,393 At 1.4.2021 RM’000 Net changes from financing cash flows RM’000 Foreign exchange movement RM’000 At 31.3.2022/ 1.4.2022 RM’000 Net changes from financing cash flows RM’000 Foreign exchange movement RM’000 At 31.3.2023 RM’000 Company Term loans 752,850 (124,635) 9,619 637,834 (257,010) 33,928 414,752 Revolving credit 26,177 (22,076) (101) 4,000 19,869 (29) 23,840 Total liabilities from financing activities 779,027 (146,711) 9,518 641,834 (237,141) 33,899 438,592 The notes on pages 129 to 222 are an integral part of these financial statements. Notes to the financial statements QL Resources Berhad is a public limited liability company, incorporated and domiciled in Malaysia and is listed on the Main Market of Bursa Malaysia Securities Berhad. The address of its registered office and principal place of business is as follows: Registered office/Principal place of business No. 16A, Jalan Astaka U8/83 Bukit Jelutong 40150 Shah Alam Selangor Darul Ehsan The consolidated financial statements of the Company as at and for the financial year ended 31 March 2023 comprise the Company and its subsidiaries (together referred to as the “Group” and individually referred to as “Group entities”) and the Group’s interest in associates. The financial statements of the Company as at and for the financial year ended 31 March 2023 do not include other entities. The Company is principally engaged in investment holding, whilst the principal activities of the subsidiaries are as stated in Note 34 to the financial statements. There has been no significant change in the nature of these activities during the financial year. These financial statements were authorised for issue by the Board of Directors on 10 July 2023. 1. BASIS OF PREPARATION (a) Statement of compliance The financial statements of the Group and of the Company have been prepared in accordance with Malaysian Financial Reporting Standards (“MFRSs”), International Financial Reporting Standards and the requirements of the Companies Act 2016 in Malaysia. The following are accounting standards, interpretations and amendments of the MFRSs framework that have been issued by the Malaysian Accounting Standards Board (“MASB”) but have not been adopted by the Group and the Company: MFRSs, interpretations and amendments effective for annual periods beginning on or after 1 January 2023 • MFRS 17, Insurance Contracts • Amendments to MFRS 17, Insurance Contracts – Initial application of MFRS 17 and MFRS 9 – Comparative Information • Amendments to MFRS 101, Presentation of Financial Statements – Disclosures of Accounting Policies • Amendments to MFRS 108, Accounting Policies, Changes in Accounting Estimates and Errors – Definition of Accounting Estimates • Amendments to MFRS 112, Income Taxes – Deferred Tax related to Assets and Liabilities arising from a Single Transaction and International Tax Reform – Pillar Two Model Rules MFRSs, interpretations and amendments effective for annual periods beginning on or after 1 January 2024 • Amendment to MFRS 16, Leases – Lease Liability in a Sale and Leaseback • Amendments to MFRS 101, Presentation of Financial Statements – Non-current Liabilities with Covenants and Classification of Liabilities as Current or Non-current • Amendments to MFRS 107, Statement of Cash Flows and MFRS 7, Financial Instruments: Disclosures – Supplier Finance Arrangements MFRSs, interpretations and amendments effective for annual periods beginning on or after a date yet to be confirmed • Amendments to MFRS 10, Consolidated Financial Statements and MFRS 128, Investments in Associates and Joint Ventures – Sale or Contribution of Assets between an Investor and its Associate or Joint Venture
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