Wah Seong Corporation Berhad Annual Report 2019

91 ANNUAL REPORT 2019 Group Company Note 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property, plant and equipment (62,282) (98,207) (81) (81) Purchase of other intangible assets - (11) - - Purchase of investment properties - (7,216) - - Proceeds from disposal of property, plant and equipment 32,116 65,433* - 4 Proceeds from disposal of: - prepaid lease payments - 87,110* - - - non-current asset held for sale - 46,286 - - - an associate - 440 - - Transfer (to)/from deposits and short term investment (5,816) 56,421 (14) 18,253 Dividends received from: - subsidiaries - - 7,965 9,094 - a joint venture 21 4,312 - - - an associate 1,735 257 - - Advances to subsidiaries - - (27,576) (128,917) Repayments from subsidiaries - - 27,979 112,453 Net (advances to)/repayment from joint ventures (1,018) 1,545 - - Net repayment from/(advances to) associates 703 (793) - - Net cash (used in)/generated from investing activities (34,541) 155,577 8,273 10,806 CASH FLOWS FROM FINANCING ACTIVITIES Purchase of treasury shares 26 - (2,448) - (2,448) Drawdown from term loans 179,113 124,217 - - Repayments of term loans (122,485) (110,677) - - Drawdown of fixed rate notes 19,583 2,071 - - Repayments of fixed rate notes (9,027) (23,083) - - Drawdown from other bank borrowings 1,252,488 1,271,640 610,322 831,887 Repayments of other bank borrowings (1,210,265) (1,399,674) (627,689) (796,966) Advances from subsidiaries - - 21,810 4,453 Repayments to subsidiaries - - (8,700) (600) Proceeds received from non-controlling interests on issuance of shares by subsidiaries 1,690 - - - Dividends paid to non-controlling interests (2,980) (10,178) - - Utilisation of advances from customer (357,464) (213,937) - - Lease repayment (principal portion) (12,141) - - - Net cash (used in)/generated from financing activities (261,488) (362,069) (4,257) 36,326 NET CHANGES IN CASH AND CASH EQUIVALENTS (89,025) (9,601) (3,420) 5,023 CASH AND CASH EQUIVALENTS AT BEGINNING OF THE FINANCIAL YEAR 215,259 227,110 9,354 4,331 EFFECTS OF EXCHANGE RATE CHANGES (2,062) (2,250) 26 - CASH AND CASH EQUIVALENTS AT END OF THE FINANCIAL YEAR 124,172 215,259 5,960 9,354 STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019