PRG Holdings Berhad Annual Report 2019

PRG HOLDINGS BERHAD 84 Group Company Note 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Operating profit/(loss) before changes in working capital (continued) 6,500 1,093 (6,246) (6,477) Change in inventories (24,355) 5,157 - - Change in trade and other receivables (24,911) (12,354) 2,038 (16,891) Change in contract assets 5,546 3,970 - - Change in trade and other payables 12,519 (4,198) (1,196) 1,556 Change in contract liabilities 5,551 (22,885) - - Cash used in operations (19,150) (29,217) (5,404) (21,812) Tax refunded 1,102 18 1 * Tax paid (2,316) (4,473) (1) (8) Net cash used in operating activities (20,364) (33,672) (5,404) (21,820) CASH FLOWS FROM INVESTING ACTIVITIES Purchase of: - property, plant and equipment 7(c) (2,218) (5,188) - - - right-of-use assets 8(c) (5,540) - - - - intangible assets 9 (36) - - - - biological assets 19(f) (3,676) - - - Advances to subsidiaries - - (18,591) (9,955) Repayment from/(to) a joint venture 903 (1,307) - - Advances to associates (3,080) - - - Dividends received from a joint venture 12 309 291 - - Interest received 380 572 5 1 Proceeds from disposals of property, plant and equipment 114 1,674 - - Proceeds from partial disposal of a subsidiary 15,505 15,909 15,505 15,909 Net cash inflow from acquisition of subsidiaries 10(a) 1,043 - - - Acquisition of additional interest in a subsidiary - - - (250) Acquisition of investments in associates (842) (3,755) - - Acquisition of equity investments 13 (13,401) - (13,401) - Deposits (placed with)/withdrawn from financial institutions with original maturity of more than three (3) months (7,377) 1,170 - - (Placement)/Withdrawal of restricted cash (845) 505 - - Net cash (used in)/from investing activities (18,761) 9,871 (16,482) 5,705 STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 cont’d