Page 223 - Exim iar24_Ebook

EXIM BANK MALAYSIA ANNUAL REPORT 2024

7 FINANCIAL STATEMENTS 221
NOTES TO THE FINANCIAL STATEMENTS

44. ISLAMIC BUSINESS (cont’d)
Statement of cash flows for islamic business fund the financial year ended 31 December 2024
Group and Bank
2024 2023
RM’000 RM’000
Cash flows from operating activities
Profit before zakat 22,099 35,341
Adjustments for:
ECL Stage 3 of financing
- Charged for the year 22,397 60,724
- Writeback during the year (32,297) (51,400)
ECL Stage 1 and 2 of financing
- Allowance/(writeback) during the year 50,977 (15,971)
Allowance/(writeback) for ECL on financial investments 24,770 (570)
(Writeback)/allowance for ECL on commitment & contingencies (2,805) 1,562
Unrealised foreign exchange (gain)/loss (142,360) 31,354
Amortisation of premium less accretion of discount (834) (1,144)
Operating (loss)/profit before working capital changes (58,053) 59,896
Islamic financing (739,377) 15,404
Deposit from a corporate customer 10,005 -
Other assets (28,046) 6,753
Other liabilities (38,641) 21,136
Deferred income 2,198 1,579
Reinsurance contract assets 901 4,933
Increase in qard payables 2,481 4,151
Takaful contract liabilities (3,503) (16,523)
Net cash (used in)/generated from operating activities (852,035) 97,329

Cash flow from investing activities
Purchase of investments (87,814) (294,151)
Proceed from disposal of investments 70,784 160,832
Net cash used in investing activities (17,030) (133,319)

Cash flows from financing activities
Net drawdown/(repayment) of financing payable 184,210 (290,403)
Net cash generated from/(used in) financing activities 184,210 (290,403)

Net decrease in cash and cash equivalents (684,855) (326,393)
Net foreign exchange difference (14,586) 55,256
Cash and cash equivalents at beginning of year excluding
on behalf of customer 1,090,084 1,361,221

Cash and cash equivalents at end of year 390,643 1,090,084

Cash and cash equivalents comprise:
Cash and bank balances 9,753 6,451
Deposits and placements with financial institutions 456,326 1,135,138
Less: Deposits and placements on behalf of customers (75,436) (51,505)
390,643 1,090,084