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 INVESTING ACTIVITIES Purchase of property, plant and equipment (98,207) (477,999) (81) (27) Purchase of other intangible assets (11) (25) - - Purchase of investment properties (7,216) (30) - - Additional investment in an associate - (9,433) - - Proceeds from disposal of property, plant and equipment* 65,433 8,074 4 124 Proceeds from disposal of: - prepaid lease payments* 87,110 5,790 - - - non-current asset held for sale 46,286 - - - - an associate 440 - - - Net proceeds from deposits and short term investment 56,421 12,970 18,253 10,978 Net cash outflow from disposal of a subsidiary - (5) - - Dividends received from: - subsidiaries - - 9,094 10,863 - a joint venture 4,312 3,450 - - - an associate 257 4,228 - - Net advance (to)/from subsidiaries - - (132,820) (66,022) Net repayment from subsidiaries - - 120,107 151,565 Net repayment from joint ventures 1,545 16,852 - - Net (advances to)/repayment from associates (793) 448 - - Net cash generated from/(used in) investing activities 155,577 (435,680) 14,557 107,481 CASH FLOWS FROM FINANCING ACTIVITIES Purchase of treasury shares 27 (2,448) - (2,448) - Drawdown from term loans 124,217 3,406 - - Repayments of term loans (110,677) (117,422) - - Drawdown of fixed rate notes 2,071 - - - Repayments of fixed rate notes (23,083) - - - Drawdown from other bank borrowings 1,271,640 1,515,173 831,887 1,037,998 Repayments of other bank borrowings (1,399,674) (1,568,759) (796,966) (1,111,659) Proceeds received from non-controlling interests on issuance of shares by subsidiaries - 400 - - Dividends paid to non-controlling interests (10,178) - - - (Utilisation)/Advances from customer (213,937) 265,886 - - Net cash (used in)/generated from financing activities (362,069) 98,684 32,473 (73,661) NET CHANGES IN CASH AND CASH EQUIVALENTS (9,601) 525 5,023 (22,052) CASH AND CASH EQUIVALENTS AT BEGINNING OF THE FINANCIAL YEAR 227,110 228,388 4,331 26,568 EFFECTS OF EXCHANGE RATE CHANGES (2,250) (1,803) - (185) CASH AND CASH EQUIVALENTS AT END OF THE FINANCIAL YEAR 215,259 227,110 9,354 4,331 Represented by: TIME DEPOSITS 22 76,373 111,396 9,109 20,972 CASH AND BANK BALANCES 23 156,363 189,612 854 2,221 232,736 301,008 9,963 23,193 LESS: TIME DEPOSITS WITH MATURITY MORE THAN 3 MONTHS 22 (16,868) (55,036) - - SHORT TERM INVESTMENTS 22 (609) (18,862) (609) (18,862) CASH AND CASH EQUIVALENTS 215,259 227,110 9,354 4,331 * Proceeds from disposal of property, plant and equipment and prepaid lease payments amounting to RM55,890,000 and RM87,110,000 respectively received during the financial year relates to the disposal in prior financial year. STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 ANNUAL REPORT 2018 87