Wah Seong Corporation Berhad Annual Report 2018

Group Company Note 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax 107,088 122,605 537 23,017 Adjustments for: Property, plant and equipment: - Depreciation charge 188,091 144,713 100 237 - Impairment charge 48 72,842 - - - Reversal of impairment charge (4,904) - - - - Written off 839 239 80 - - Net gain on disposal (5,418) (36,006) (4) (98) Prepaid lease payments: - Amortisation charge 1,328 1,509 - - - Gain on disposal - (64,071) - - Depreciation of investment properties 346 236 273 236 Inventories: - Allowance for obsolescence 880 6,207 - - - Write back of allowance for obsolescence (727) (840) - - - Written off 1,862 30 - - Impairment loss on investment in an associate - 271 - - Share of results of associates (1,170) 4,863 - - Share of results of joint ventures 19,460 (9,877) - - Loss/(Gain) on disposal of a subsidiary - 8,363 - (12,235) Gain on disposal of: - non-current asset held for sale (4,534) - - - - an associate (207) - - - Net impairment on trade and other receivables 3,421 767 209 - Net provision for/(write back of) warranties 1,880 (2,079) - - Net unrealised loss/(gain) on foreign exchange 306 4,356 (2,338) (4,276) Dividend income - - (9,094) (10,863) Interest income (6,687) (7,660) (8,839) (11,319) Interest expense 38,940 41,897 6,489 7,427 Fair value (gain)/loss on: - derivative financial instruments 33 (48) 487 - - - investment in equity instruments 33 4 - - - 340,798 288,852 (12,587) (7,874) Changes in working capital: Inventories (4,281) (49,553) - - Receivables (8,236) (70,160) (38,166) (50,065) Payables (85,143) 221,818 8,050 (68) Cash generated from/(used in) operations 243,138 390,957 (42,703) (58,007) Interest received 6,687 7,660 8,839 11,319 Interest paid (38,940) (41,897) (6,489) (7,427) Tax paid (13,994) (19,199) (1,654) (1,757) Net cash generated from/(used in) operating activities 196,891 337,521 (42,007) (55,872) STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 WAH SEONG CORPORATION BERHAD 86