Tropicana Corporation Berhad Annual Report 2018

TROPICANA CORPORATION BERHAD 116 ABOUT TROPICANA OUR STRATEGIC PERFORMANCE OUR LEADERSHIP SUSTAINABILITY AT TROPICANA STATEMENT OF CASH FLOWS - COMPANY FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 Company 2018 RM’000 2017 RM’000 Cash flows from operating activities (Loss)/profit before tax (14,881) 576,535 Adjustments for: Depreciation of property, plant and equipment 456 395 Finance income (30,782) (37,983) Finance costs 44,665 45,136 Net gain on disposal of property, plant and equipment (24) - Impairment loss on trade and other receivables 12 - Impairment loss on investments in subsidiaries 6,266 184,898 Reversal of impairment loss on trade and other receivables - (108,780) Waiver of debts to subsidiaries - 1,893 Waiver of debts from subsidiaries - (47,629) Dividend income (28,000) (625,760) Operating loss before working capital changes (22,288) (11,295) Changes in working capital: Receivables (21,472) 16,960 Payables 177,428 (72,634) Cash generated from/(used in) operations 133,668 (66,969) Finance costs paid (27,964) (43,784) Net tax paid (2,176) (2,646) Net cash from/(used in) operating activities 103,528 (113,399) Cash flows from investing activities Purchase of property, plant and equipment (317) (44) Finance income received 30,782 32,894 Proceeds from disposal of property, plant and equipment 24 - Subscription of additional shares in subsidiaries, net of expenses (57,666) (4,562) Net cash (used in)/from investing activities (27,177) 28,288 Cash flows from financing activities Drawdown from borrowings 69,360 95,172 Repayment of borrowings (119,845) (111,189) Repayment of hire purchase (41) - Uplift/(placements) of debt service reserve, escrow accounts and deposits with licensed banks not available for use 12,339 (6,729) Purchase of treasury shares (18,402) (3,683) Payment of borrowings costs - (216) Dividends paid to shareholders of the Company (23,420) (42,716) Net cash used in financing activities (80,009) (69,361) Net decrease in cash and cash equivalents (3,658) (154,472) Cash and cash equivalents at beginning of financial year 4,700 159,172 Cash and cash equivalents at end of financial year (Note 26) 1,042 4,700 The accompanying accounting policies and explanatory information form an integral part of the financial statements.