Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2022 85 STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 (CONT’D) The Group The Company 2022 2021 2022 2021 RM RM RM RM CASH FLOWS (FOR)/FROM INVESTING ACTIVITIES Purchase of property, plant and equipment (52,660,343) (82,830,229) (10,779) (4,388) Dividend received from subsidiaries - - 27,772,909 113,688,891 Additional investment in an existing subsidiary (Note 13) (4,739,381) (4,240,434) (4,739,381) (4,240,434) Short-term investments (2,914,353) - - - Proceeds from disposal of property, plant and equipment 34,883 25,771 - - Net withdrawal/(placement) of fixed deposits with licensed banks 347,076 (8,332) - - Interest received 1,247,179 840,722 207,699 269,458 Net Cash (For)/From Investing Activities (58,684,939) (86,212,502) 23,230,448 109,713,527 CASH FLOWS FOR FINANCING ACTIVITIES Drawdown of loan 19,719,600 - - - Interest paid (830,861) (614,836) - - Dividend paid by the Company (Note 27) (64,409,007) (52,907,389) (64,409,007) (52,907,389) Dividend paid by a subsidiary to non- controlling interests (2,084,943) (1,421,505) - - Payment of lease liabilities (Note 30(a)) (3,023,873) (3,191,224) - - Proceeds from disposal of treasury shares - 1,655,415 - 1,655,415 Purchase of treasury shares - (4,120,170) - (4,120,170) Share issuance expenses (Note 21) - (484,307) - (484,307) Net Cash For Financing Activities (50,629,084) (61,084,016) (64,409,007) (55,856,451) NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 33,549,424 (8,521,308) (48,224,024) 48,390,403 Effect of exchange rate changes (8,467,395) 11,079,510 19,700 (45,633) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 302,358,998 299,800,796 58,481,029 10,136,259 CASH AND CASH EQUIVALENTS AT END OF YEAR (Note 30(b)) 327,441,027 302,358,998 10,276,705 58,481,029 The accompanying Notes form an integral part of these Financial Statements.
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