Note 2024 2023 $’000 $’000 Cash flows from operating activities Profit for the year 20,504 67,631 Adjustments for: Amortisation of intangible assets 8 2,170 2,604 Bad debts written off – 421 Change in fair value of investment properties 6 (45,464) (57,218) Depreciation of property, plant and equipment 5 4,463 3,218 Foreign currency exchange loss/(gain) (net) 4,028 (780) Impairment losses on trade and other receivables 23 179 64 Net gain on disposal of a subsidiary 19 – (28,541) Net gain on liquidation of associates (306) – Net finance costs 20 175,590 171,209 Property, plant and equipment written off – 1 Reversal of impairment of property, plant and equipment 5 – (387) (Reversal of)/Provision for long-term incentive plan 22 (3,070) 2,113 Share of results of associates and joint ventures, net of tax (67,312) (68,665) Tax (credit)/expense 21 (9,035) 11,928 81,747 103,598 Changes in: - development properties (29,569) 39,316 - inventories (490) 36 - trade and other receivables (40,729) (16,147) - trade and other payables 21,331 (7,594) Cash generated from operations 32,290 119,209 Tax paid (12,283) (4,676) Net cash from operating activities 20,007 114,533 Consolidated Statement of Cash Flows Year ended 31 December 2024 The accompanying notes form an integral part of these financial statements. 166 PERENNIAL HOLDINGS PRIVATE LIMITED
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