GHL System Berhad Annual Report 2018

a n n u a l r e p o r t 2 0 1 8 79 STAT EMENTS OF CASH F LOWS f o r t h e f i n a n c i a l y e a r e n d e d 3 1 D e c e m b e r 2 0 1 8 C O N T ’ D Group Company 2018 2017 2018 2017 Note RM RM RM RM CASH FLOWS FROM FINANCING ACTIVITIES Drawdown of: - bankers’ acceptance - 12,000,000 - - - term loans 79,857,470 4,000,000 - - - hire purchase 6,645,842 - - - Dividends paid - (3,266,537) - (3,266,537) Proceeds from issuance of ordinary shares pursuant to: - ESS exercised 23 135,000 3,224,080 135,000 3,224,080 - private placement 23 84,500,000 - 84,500,000 - - new subsidiary 15(g) - - 20,793,159 - Proceeds from resale of treasury shares in open market 1,094,221 1,266,896 1,094,221 1,266,896 Repayments of: - term loans (73,276,255) (5,937,135) - - - Islamic facility (2,000,000) (12,000,000) - - - hire purchase creditors (2,235,512) (1,785,624) (66,658) (155,730) - bankers’ acceptance (12,000,000) - - - Net cash from/(used in) financing activities 82,720,766 (2,498,320) 106,455,722 1,068,709 Net increase in cash and cash equivalents 32,535,534 27,027,785 36,232,520 7,784,513 Effect of exchange rate changes on cash and cash equivalents 641,969 (3,969,505) 213,767 (609,294) Cash and cash equivalents at beginning of financial year 99,945,382 76,887,102 16,085,617 8,910,398 Cash and cash equivalents at end of financial year 22 133,122,885 99,945,382 52,531,904 16,085,617 The accompanying notes form an integral part of the financial statements.