Wah Seong Corporation Berhad Annual Report 2017

FINANCIAL STATEMENTS WAH SEONG CORPORATION BERHAD ANNUAL REPORT 2017 85 STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 Note Group Company 2017 RM’000 2016 RM’000 2017 RM’000 2016 RM’000 CASH FLOWS FROM FINANCING ACTIVITIES Purchase of treasury shares 26 - (340) - (340) Drawdown from term loans 3,406 102,113 - - Repayments of term loans (117,422) (78,181) - - Drawdown of fixed rate notes - 30,640 - - Repayments of fixed rate notes - (38,903) - - Drawdown from other bank borrowings 1,515,173 1,298,527 1,037,998 967,398 Repayments of other bank borrowings (1,568,759) (1,317,327) (1,111,659) (995,282) Proceeds received from non-controlling interests on issuance of shares by subsidiaries 400 400 - - Dividends paid to owners of the Company 37 - (11,592) - (11,592) Dividends paid to non-controlling interests - (1,807) - - Advances from customer 265,886 92,510 - - Net cash generated from/(used in) financing activities 98,684 76,040 (73,661) (39,816) NET CHANGES IN CASH AND CASH EQUIVALENTS 525 (95,122) (22,052) (20,254) CASH AND CASH EQUIVALENTS AT BEGINNING OF THE FINANCIAL YEAR 228,388 320,807 26,568 46,597 EFFECTS OF EXCHANGE RATE CHANGES (1,803) 2,703 (185) 225 CASH AND CASH EQUIVALENTS AT END OF THE FINANCIAL YEAR 227,110 228,388 4,331 26,568 Represented by: TIME DEPOSITS 21 111,396 151,763 20,972 50,840 CASH AND BANK BALANCES 22 189,612 163,493 2,221 5,568 301,008 315,256 23,193 56,408 LESS: TIME DEPOSITS WITH MATURITY MORE THAN 3 MONTHS 21 (55,036) (57,028) - - SHORT TERM INVESTMENTS 21 (18,862) (29,840) (18,862) (29,840) CASH AND CASH EQUIVALENTS 227,110 228,388 4,331 26,568