GHL System Berhad Annual Report 2020

85 a n n u a l r e p o r t 2 0 2 0 Group Company 2020 2019 2020 2019 Note RM RM RM RM CASH FLOWS FROM OPERATING ACTIVITIES (cont‘d) Operating profit/(loss) before changes in working capital 68,619,369 77,549,788 (4,270,280) (5,050,034) (Increase)/Decrease in inventories (9,393,389) 7,572,346 (47,880) (49,159) (Increase)/Decrease in trade and other receivables (15,188,265) 20,294,486 1,122,894 7,801,949 Increase/(Decrease) in trade and other payables 1,624,720 (10,308,976) (706,841) 466,454 Advance receipts for contract liabilities 29(b) 6,416,172 5,490,992 1,483,722 1,119,409 Increase in employee benefits obligations 279,331 290,180 - - Cash generated from/(used in) operations 52,357,938 100,888,816 (2,418,385) 4,288,619 Dividends received - - 9,000,000 12,000,000 Interest received 3,058,665 3,294,042 1,538,990 1,533,557 Interest paid (1,197,596) (1,571,953) - - Tax paid (15,026,200) (13,455,519) 368,328 (442,996) Tax refunded 5,157,125 2,350,324 (52,178) 637,804 Net cash from operating activities 44,349,932 91,505,710 8,436,755 18,016,984 CASH FLOWS FROM INVESTING ACTIVITIES Purchases of: - property, plant and equipment 12(b) (17,223,824) (26,780,263) (246,935) (3,630,496) - intangible assets 14 - (851) - (851) Acquisition of subsidiaries for cash, net of cash acquired 16(h) - (5,273,619) - (8,344,620) Disposal of subsidiaries, net of cash disposed (449,163) - - - Proceeds from disposal of: - property, plant and equipment 1,827,795 1,979,148 5,089 - - right-of-use assets - - 1 - - other investments 387,963 2,163,252 320,425 2,152,834 Increase investment in an associate 17(e) (158,800) (635,200) - - Placement in deposits pledged or maturity more than 3 months (892,466) (476,957) - - Repayment from/(Advances to) subsidiaries - - 3,724,922 (5,381,289) Net cash (used)/from in investing activities (16,508,495) (29,024,490) 3,803,502 (15,204,422) STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 CONT’D