Wah Seong Corporation Berhad Annual Report 2019

169 ANNUAL REPORT 2019 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 37 DIVIDENDS There were no dividends paid or declared in respect of the financial years ended 31 December 2018 and 31 December 2019. Subsequent event On 18 February 2020, the Directors declared a first interim dividend of 1.00 sen per share in respect of the financial year ending 31 December 2020 comprising: a) Single tier cash dividend of 0.40 sen per share amounting to RM3,081,845; and b) Single tier share dividend of 3,849,884 treasury shares distributed to the shareholders of WSC on the basis of one (1) WSC treasury share for every two hundred (200) existing WSC ordinary shares held at the entitlement date on 12 March 2020. Based on the share price of WSC shares of RM1.20 each as at 31 December 2019, the value of the share dividend per WSC share is equivalent to a gross cash dividend of 0.60 sen per share. The first interim dividend was paid/credited into the entitled shareholders’ securities accounts on 8 April 2020. 38 RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES Lease liabilities Term loans Fixed rate notes Other bank borrowings Total liabilities from financing activities Group RM’000 RM’000 RM’000 RM’000 RM’000 2019 At 1 January 220,414 240,302 9,015 598,308 1,068,039 Cash flows (23,893) 56,628 10,556 42,223 85,514 Non-cash item 39,171 (1,368) - - 37,803 Effect of exchange rate changes (928) (2,468) (247) (4,854) (8,497) At 31 December 234,764 293,094 19,324 635,677 1,182,859 2018 At 1 January - 224,595 30,017 721,911 976,523 Cash flows - 13,540 (21,012) (128,034) (135,506) Effect of exchange rate changes - 2,167 10 4,431 6,608 At 31 December - 240,302 9,015 598,308 847,625