MST Golf Group Berhad Cash Flow Statement

Financials in millions MYR. Fiscal year is January - December.

Millions MYR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-9.52	5.92	17.63	26.65	18.01
Depreciation & Amortization	28.64	28.24	21.3	14.77	9.98
Loss (Gain) From Sale of Assets	0.03	-0.01	0.02	0	-0.07
Asset Writedown & Restructuring Costs	8.94	0.03	0	0.11	0.56
Loss (Gain) From Sale of Investments	-1.19	-1.15	-0.31	-	-
Provision & Write-off of Bad Debts	0	0.02	-	-	-0
Other Operating Activities	5.96	3.71	1.88	7.5	4.89
Change in Accounts Receivable	-0.7	4.57	-6.94	-8.96	-5.13
Change in Inventory	34.68	-16.3	-37.29	-41.34	-25.09
Change in Accounts Payable	-3.81	-1.86	-5.52	6.12	4.32
Change in Unearned Revenue	-1.28	-1.73	0.59	4.1	-0.35
Operating Cash Flow	61.75	21.43	-8.62	8.95	7.12
Operating Cash Flow Growth	188.13%	-	-	25.82%	-86.17%
Capital Expenditures	-15.14	-17.14	-17.31	-23.87	-4.75
Sale of Property, Plant & Equipment	8.28	0.05	0.3	0	0
Cash Acquisitions	-	-	-	-	-0.21
Divestitures	-	-	-	-	1.32
Sale (Purchase) of Intangibles	-	-	-	-	-0.01
Investment in Securities	-35.9	0	-26.35	-	0.47
Other Investing Activities	9.21	7.33	18.98	-0.98	-0.11
Investing Cash Flow	-33.55	-9.76	-24.37	-24.85	-3.28
Short-Term Debt Issued	-	81.99	97.05	3.92	29.22
Long-Term Debt Issued	74.45	31.75	24.7	82.41	-
Total Debt Issued	74.45	113.74	121.75	86.34	29.22
Short-Term Debt Repaid	-8.2	-74.31	-88.37	-0.02	-22.38
Long-Term Debt Repaid	-107.11	-57.55	-51.04	-75.87	-9.88
Total Debt Repaid	-115.3	-131.86	-139.42	-75.88	-32.26
Net Debt Issued (Repaid)	-40.85	-18.12	-17.67	10.45	-3.04
Issuance of Common Stock	-	-	129.6	-	-
Common Dividends Paid	-2.05	-10.26	-12.5	-11.5	-2
Other Financing Activities	-6.07	-7.44	-9.83	-3.52	-2.91
Financing Cash Flow	-48.97	-35.82	89.61	-4.57	-7.95
Foreign Exchange Rate Adjustments	-8.63	-5.9	5.15	2.08	0.36
Net Cash Flow	-29.4	-30.05	61.76	-18.38	-3.75
Free Cash Flow	46.61	4.29	-25.93	-14.91	2.37
Free Cash Flow Growth	986.50%	-	-	-	-95.20%
Free Cash Flow Margin	15.63%	1.31%	-7.97%	-4.96%	1.15%
Free Cash Flow Per Share	0.06	0.01	-0.04	-0.12	0.00
Cash Interest Paid	6.07	7.44	6.29	4.17	2.82
Cash Income Tax Paid	-0.97	7.83	13.52	9.99	5.64
Levered Free Cash Flow	30.67	-3.51	-38.5	-52.17	7.48
Unlevered Free Cash Flow	34.46	1.14	-34.57	-49.56	9.24
Change in Working Capital	28.88	-15.32	-49.16	-40.08	-26.26

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.