UEM EDGENTA BERHAD ANNUAL REPORT 2021 1 2 3 4 5 6 7 187 186 FINANCIAL STATEMENTS STATEMENTS OF CASH FLOWS For the year ended 31 December 2021 (contd.) The accompanying accounting policies and explanatory information form an integral part of the financial statements. Group Company 2021 RM’000 2020 RM’000 2021 RM’000 2020 RM’000 Cash flows from financing activities Issuance of shares to non-controlling shareholders of a subsidiary 306 - - - Drawdown of borrowings 82,197 74,384 52,000 50,000 Repayment of borrowings (126,182) (114,894) (50,000) (50,000) Repayment of lease liabilities (7,278) (4,658) (5,804) (4,086) Dividends paid - (66,530) - (66,530) Dividends paid to non-controlling shareholders of subsidiaries (1,965) (3,660) - - Placement of fixed deposits (5,014) (19,634) - - Net cash flows used in financing activities (57,936) (134,992) (3,804) (70,616) Net (decrease)/increase in cash and cash equivalents (91,031) 97,736 35,644 (32,685) Net foreign exchange difference 6,985 2,101 - - Cash and cash equivalents at beginning of year 638,806 538,969 14,813 47,498 Cash and cash equivalents at end of year (Note a) 554,760 638,806 50,457 14,813 (a) Cash and cash equivalents comprise: Cash in hand and at banks 398,649 351,231 50,457 5,313 Fixed deposits with licensed banks 201,742 326,771 - 9,500 Cash, bank balances and deposits (Note 23) 600,391 678,002 50,457 14,813 Less: Fixed deposits on lien (3,849) (3,713) - - Less: Fixed deposits pledged (22,933) (17,060) - - Less: Cash and fixed deposit restricted in usage (18,849) (18,423) - - 554,760 638,806 50,457 14,813 (b) Included in the purchase of property, plant and equipment of the Group and the Company is an amount of RM1.5 million and RM0.3 million paid for property, plant and equipment that had been capitalised in prior years. (c) Included in the purchase of intangible assets of the Group and the Company is an amount of RM17.2 million paid for intangible assets that had been capitalised in prior years. NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021 1. CORPORATE INFORMATION The Company is a public limited liability company, incorporated and domiciled in Malaysia, and is listed on the Main Market of Bursa Malaysia Securities Berhad. The registered office of the Company is located at Level 17, Menara UEM, Tower 1, Avenue 7, The Horizon, Bangsar South City, No. 8 Jalan Kerinchi, 59200 Kuala Lumpur. The Company regards UEM Group Berhad and Khazanah Nasional Berhad, both incorporated in Malaysia, as its immediate and ultimate holding companies, respectively. Related companies in these financial statements refer to member companies within the UEM Group of companies. The principal activities of the Company are investment holding and provision of management services to its subsidiaries. The principal activities of the subsidiaries, joint ventures and associates are described in Note 45. There have been no significant changes in the nature of the principal activities during the financial year. The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the directors on 28 March 2022. 2. SIGNIFICANT ACCOUNTING POLICIES 2.1 Basis of preparation The financial statements of the Group and of the Company have been prepared in accordance with Malaysian Financial Reporting Standards (“MFRS”), International Financial Reporting Standards (“IFRS”) and the requirements of the Companies Act 2016 in Malaysia. The financial statements of the Group and of the Company have been prepared on a historical cost basis except as disclosed in the accounting policies below. The financial statements are presented in Ringgit Malaysia (“RM”) and all values are rounded to the nearest thousand (RM’000) except when otherwise indicated. 2.2 Changes in accounting policies The accounting policies adopted are consistent with those of the previous nancial year, except as follows: Effective for annual period beginning on or after MFRS 17: Insurance Contracts 1 January 2021 Interest Rate Benchmark Reform - Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16) 1 January 2021 The adoption of the above standards did not have any significant effect on the financial statements of the Group and of the Company.
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