PRG Holdings Berhad Annual Report 2020

Annual Report 2020 79 Group Company Note 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Share of profit of joint ventures, net of tax 13 (335) (245) - - Realisation of profits upon disposal of a subsidiary (3,584) - - - Net unrealised (gain)/loss on foreign exchange (332) 127 (552) 2 Operating profit/(loss) before changes in working capital 4,060 6,500 (3,330) (6,246) Change in inventories (3,621) (24,355) - - Change in bank balances held on behalf of clients (19,379) - - - Change in trade and other receivables 19,445 (24,911) 1 2,038 Change in contract assets (2,105) 5,546 - - Change in trade and other payables (42,648) 12,519 (574) (1,196) Change in contract liabilities 6,751 5,551 - - Cash used in operations (37,497) (19,150) (3,903) (5,404) Tax refunded 1,872 1,102 1 1 Tax paid (2,347) (2,316) (1) (1) Net cash used in operating activities (37,972) (20,364) (3,903) (5,404) CASH FLOWS FROM INVESTING ACTIVITIES Purchase of: - property, plant and equipment 8 (1,721) (2,218) - - - right-of-use assets 9(c) (3,759) (5,540) - - - intangible assets 10 (7) (36) - - - biological assets 20(f) - (3,676) - - Advances to subsidiaries - - (17,901) (18,591) Repayment from a joint venture 20 903 - - Advances to associates (1,128) (3,080) - - Dividends received from a joint venture 13 - 309 - - Interest received 707 380 2 5 Proceeds from disposals of property, plant and equipment 60 114 - - Proceeds from partial disposal of a subsidiary - 15,505 - 15,505 Net cash (outflow)/inflow from acquisition of subsidiaries 11 (2,499) 1,043 - - Net cash inflow from disposal of subsidiaries 11 9,458 - - - Acquisition of investments in associates - (842) - - Acquisition of equity investments 14 - (13,401) - (13,401) Deposits placed with financial institutions with original maturity of more than three (3) months (5,174) (7,377) - - Placement of restricted cash - (845) - - Net cash used in investing activities (4,043) (18,761) (17,899) (16,482) Statements of Cash Flows For the financial year ended 31 December 2020 cont’d