Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2023 90 STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 (CONT’D) The Group The Company 2023 2022 2023 2022 RM RM RM RM CASH FLOWS (FOR)/FROM INVESTING ACTIVITIES Purchase of property, plant and equipment (Note 30(a)) (15,144,018) (52,660,343) (7,249) (10,779) Dividend received from subsidiaries - - 58,832,200 27,772,909 Additional investment in an existing subsidiary (Note 13) (279,113) (4,739,381) (279,113) (4,739,381) Short-term investments - (2,914,353) - - Proceeds from disposal of property, plant and equipment 1,035,503 34,883 - - Proceeds from disposal of short-term investments 1,158,537 - - - Repayment from subsidiaries for share grant plan - - 218,280 - Net (placement)/withdrawal of fixed deposits with licensed banks (539) 347,076 - - Interest received 4,521,453 1,247,179 454,958 207,699 Net Cash (For)/From Investing Activities (8,708,177) (58,684,939) 59,219,076 23,230,448 CASH FLOWS FOR FINANCING ACTIVITIES Drawdown of loan (Note 30(b)) - 19,719,600 - - Interest paid (Note 30(b)) (1,050,224) (830,861) - - Dividend paid by the Company (Note 27) (40,844,736) (64,409,007) (40,844,736) (64,409,007) Dividend paid by a subsidiary to non-controlling interests (5,832,127) (2,084,943) - - Payment of lease liabilities (Note 30(b)) (3,183,189) (3,023,873) - - Repayment of bank borrowing (Note 30(b)) (20,890,498) - - - Net Cash For Financing Activities (71,800,774) (50,629,084) (40,844,736) (64,409,007) NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 63,489,886 33,549,424 12,350,944 (48,224,024) Effect of exchange rate changes 13,440,442 (8,467,395) (61,193) 19,700 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 327,441,027 302,358,998 10,276,705 58,481,029 CASH AND CASH EQUIVALENTS AT END OF YEAR (Note 30(c)) 404,371,355 327,441,027 22,566,456 10,276,705 The accompanying Notes form an integral part of these Financial Statements.
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