MISC Annual Report 2017

173 Financial Statements STATEMENTS OF CASH FLOWS For the year ended 31 December 2017 Group Note 2017 RM'000 2016 RM'000 CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation 2,003,580 2,813,967 Adjustments for: Writeback of impairment loss on trade and other receivables (67,405) (2,441) Impairment loss on trade and other receivables 190,125 269,054 Bad debts written off 17,805 1,491 Write off of finance lease receivables - 276,593 Ships, offshore floating assets and other property, plant and equipment - Depreciation 2,055,653 2,004,945 - Written off 20,519 20,396 - Impairment loss 684,812 358,657 Impairment loss on other investments 2,681 - Amortisation of prepaid lease payments 7,223 7,518 Amortisation of upfront fees 14,711 20,677 Gain on disposal of other property, plant and equipment (547) - Gain on disposal of ships (27,741) - Net unrealised foreign exchange loss/(gain) 52,051 (20,755) Dividend income from equity investments (2,896) (3,180) Amortisation of intangibles assets 9,424 17,675 Intangible assets written off - 54,631 Loss on liquidation of a subsidiary 16,655 - Gain on disposal of a joint venture (43,527) - Gain on disposal of an associate (1,593) - Gain on disposal of a subsidiary - (73,635) Gain on acquisition of subsidiaries - (903,682) Loss from remeasurement of previously held interest in joint ventures - 42,534 Interest income (96,489) (50,276) Finance costs 265,013 247,900 Share of profit of associates (1,068) (107) Share of profit of joint ventures (193,715) (287,949) Net movement in provision (12,445) (52,486) Operating profit before working capital changes 4,892,826 4,741,527 Inventories (5,090) 63,684 Trade and other receivables 790,846 880,778 Trade and other payables (892,575) (425,939) Cash generated from operations 4,786,007 5,260,050 Net tax paid (46,893) (37,792) Net cash generated from operating activities 4,739,114 5,222,258