GHL System Berhad Annual Report 2019

G H L S Y S T E M S B E R H A D 1 9 9 4 0 1 0 0 7 3 6 1 ( 2 9 3 0 4 0 - D ) 90 Group Company 2019 2018 2019 2018 Note RM RM RM RM CASH FLOWS FROM OPERATING ACTIVITIES (cont’d) Operating profit/(loss) before changes in working capital 77,549,788 53,422,509 (5,050,034) (5,501,129) Decrease/(Increase) in inventories 7,572,346 (22,969,682) (49,159) 35,057 Decrease/(Increase) in trade and other receivables 20,294,486 (62,108,904) 7,801,949 (1,663,689) (Decrease)/Increase in trade and other payables (10,308,976) 38,370,092 466,454 354,897 Advance receipts for contract liabilities 29(b) 5,490,992 4,587,036 1,119,409 2,736,276 Increase in employee benefits obligations 290,180 - - - Cash generated from/(used in) operations 100,888,816 11,301,051 4,288,619 (4,038,588) Dividends received - - 12,000,000 12,000,000 Interest received 3,294,042 2,678,902 1,533,557 1,245,402 Interest paid (1,571,953) (1,716,778) - (45,389) Tax paid (13,455,519) (9,756,984) (442,996) (705,824) Tax refunded 2,350,324 25,577 637,804 - Net cash from operating activities 91,505,710 2,531,768 18,016,984 8,455,601 CASH FLOWS FROM INVESTING ACTIVITIES Purchases of: - property, plant and equipment 12(c) (26,780,263) (22,570,447) (3,630,496) (5,591,713) - intangible assets 14 (851) (21,230) (851) (21,230) Acquisition of subsidiaries for cash, net of cash acquired 16(g) (5,273,619) (34,395,404) (8,344,620) (40,000,000) Proceeds from disposal of, - property, plant and equipment 1,979,148 2,914,096 - 1,919 - other investments 2,163,252 - 2,152,834 - Acquisitions of: - additional interests in subsidiaries - - - (5,100,000) - additional interests in other investment 21(c) - (2,117,588) - (2,117,588) Increase investment in an associate 17 (635,200) - - - Placement in deposits pledged or maturity more than 3 months (476,957) (4,465,074) - - Withdrawal of investment - 8,000,000 - - Repayment from/(Advances to) subsidiaries - - (5,381,289) (4,995,679) Net cash used in investing activities (29,024,490) (52,655,647) (15,204,422) (57,824,291) STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 CONT’D