Wah Seong Corporation Berhad Annual Report 2019

90 WAH SEONG CORPORATION BERHAD Group Company Note 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 CASH FLOWS FROM OPERATING ACTIVITIES Profit/(Loss) before tax 5,562 107,088 (541) 537 Adjustments for: Property, plant and equipment: - Depreciation charge 131,634 188,091 98 100 - Impairment charge 34,684 48 - - - Reversal of impairment charge - (4,904) - - - Written off 22 839 - 80 - Net loss/(gain) on disposal 5,728 (5,418) - (4) Prepaid lease payments: - Amortisation charge - 1,328 - - Investment properties: - Depreciation charge 137 346 273 273 - Net gain on disposal (6,961) - - - Right-of-use assets - Depreciation charge 21,817 - - - Inventories: - Allowance for obsolescence - 880 - - - Write back of allowance for obsolescence (4,105) (727) - - - Written off 626 1,862 - - Share of results of associates (27,156) (1,170) - - Share of results of joint ventures 30,927 19,460 - - Gain on disposal of: - non-current asset held for sale - (4,534) - - - an associate - (207) - - Net impairment on trade and other receivables 18,402 3,421 6,753 209 Impairment loss on amount due by a joint venture 2,200 - - - Net provision for warranties 235 1,880 - - Net unrealised loss/(gain) on foreign exchange 3,950 306 128 (2,338) Dividend income - - (7,965) (9,094) Interest income (4,992) (6,687) (12,274) (8,839) Interest expense 54,652 38,940 9,070 6,489 Fair value loss/(gain) on: - derivative financial instruments 32 896 (48) - - - investment in equity instruments 32 - 4 - - 268,258 340,798 (4,458) (12,587) Changes in working capital: Inventories 63,531 (4,281) - - Receivables (29,591) (8,236) (6,107) (34,414) Payables (35,356) (85,143) 1,294 4,196 Cash generated from/(used in) operations 266,842 243,138 (9,271) (42,805) Interest received 4,992 6,687 12,274 8,839 Interest paid (54,652) (38,940) (9,070) (6,489) Tax paid (10,178) (13,994) (1,369) (1,654) Net cash generated from/(used in) operating activities 207,004 196,891 (7,436) (42,109) STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019