Kimlun Corporation Berhad Annual Report 2018

Group 2018 2017 RM RM Financing activities Dividend paid on ordinary shares (17,634,518) (20,177,730) Repayment of obligations under finance leases (24,637,129) (16,323,750) Proceeds from issuance of shares 13,492,157 18,399,606 Proceeds from conversion of warrants 172,536 1,772,736 Share issuance expenses (90,561) (82,522) Proceeds from issuance of shares by a subsidiary to non-controlling interests - 299,996 Draw down of loans and borrowings 253,848,170 50,237,318 Repayment of loans and borrowings (146,667,937) (68,559,112) Advance from/(repayment to) joint ventures 11,633,528 - Uplift of/(addition to) pledged deposits 2,894,559 (10,794,724) Net cash flows generated from/(used in) financing activities 93,010,805 (45,228,182) Net (decrease)/increase in cash and cash equivalents (65,651,156) 7,183,201 Effect of exchange rate changes on cash and cash equivalents (708,751) (366,121) Cash and cash equivalents at 1 January 61,501,174 54,684,094 Cash and cash equivalents at 31 December (Note 21) (4,858,733) 61,501,174 Company 2018 2017 RM RM Operating activities Profit before tax 18,310,725 20,330,018 Adjustments for: Impairment loss on investment in subsidiary - 323,871 Operating cash flows before changes in working capital 18,310,725 20,653,889 Receivables 11,014,318 7,551,595 Payables (127,669) (934,011) Other current assets - 6,200 Cash flows generated from operations 29,197,374 27,277,673 Income taxes paid (495,056) (524,182) Net cash flows generated from operating activities 28,702,318 26,753,491 Investing activity Subscription of shares in subsidiaries (26,500,000) (25,482,668) Net cash flows used in investing activity (26,500,000) (25,482,668) Financing activities Dividend paid on ordinary shares (17,634,518) (20,177,730) Provision from conversion of warrants 172,536 1,772,736 Proceeds from issuance of shares 13,492,157 18,399,606 Share issuance expenses (90,561) (82,522) Net cash flows used in financing activities (4,060,386) (87,910) Net (decrease)/increase in cash and cash equivalents (1,858,068) 1,182,913 Cash and cash equivalents at 1 January 4,258,984 3,076,071 Cash and cash equivalents at 31 December (Note 21) 2,400,916 4,258,984 Annual Report 2018 72 For the financial year ended 31 December 2018 (cont’d) STATEMENTS OF CASH FLOWS The accompanying accounting policies and explanatory notes form an integral part of the financial statements.