GHL System Berhad Annual Report 2019

A N N U A L R E P O R T 2 0 1 9 91 Group Company 2019 2018 2019 2018 Note RM RM RM RM CASH FLOWS FROM FINANCING ACTIVITIES Drawdown of: - bankers’ acceptance 11,000,000 - - - - term loans 14,776,343 79,857,470 - - - hire purchase - 6,645,842 - - - islamic facility 52,000,000 - - - Proceeds from issuance of ordinary shares pursuant to: - ESS exercised 1,256,040 135,000 1,256,040 135,000 - private placement 23 - 84,500,000 - 84,500,000 Proceeds from transfers of ESS shares 621,000 - 621,000 - Purchase of ESS shares from market in open market 24(d) (11,943,043) - (11,943,043) - Proceeds from resale of treasury shares in open market - 1,094,221 - 1,094,221 Repayments of: - term loans (11,464,551) (73,276,255) - - - Islamic facility (54,000,000) (2,000,000) - - - lease liabilities (8,222,455) - (133,960) - - hire purchase creditors - (2,235,512) - (66,658) - bankers’ acceptance (11,000,000) (12,000,000) - - Net cash (used in)/from financing activities (16,976,666) 82,720,766 (10,199,963) 85,662,563 Net increase/(decrease) in cash and cash equivalents 45,504,554 32,596,887 (7,387,401) 36,293,873 Effect of exchange rate changes on cash and cash equivalents 729,884 641,969 94,549 213,767 Effect of fair value changes on cash and cash equivalents 43,717 (61,353) 53,652 (61,353) Cash and cash equivalents at beginning of financial year 133,122,885 99,945,382 52,531,904 16,085,617 Cash and cash equivalents at end of financial year 22(h) 179,401,040 133,122,885 45,292,704 52,531,904 STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 CONT’D The accompanying notes form an integral part of the financial statements.