Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 38 RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES (CONTINUED) Net advances from subsidiaries Other bank borrowings Total liabilities from financing activities RM’000 RM’000 RM’000 Company 2023 At 1 January 32,400 59,714 92,114 Cash flows 488 (14,766) (14,278) Effect of exchange rate changes - 52 52 At 31 December 32,888 45,000 77,888 2022 At 1 January 34,258 102,163 136,421 Cash flows (1,858) (42,449) (44,307) At 31 December 32,400 59,714 92,114 39 SIGNIFICANT RELATED PARTY DISCLOSURES For the purposes of these financial statements, parties are considered to be related to the Group if the Group or the Company has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Group or the Company and the party are subject to common control or common significant influence. Related parties may be individuals or other entities. Key management personnel are defined as those persons having authority and responsibility for planning, directing and controlling the activities of the Group either directly or indirectly. Integrated Annual Report 2023 264
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