MISC Annual Report 2017

175 Financial Statements STATEMENTS OF CASH FLOWS For the year ended 31 December 2017 The accompanying accounting policies and explanatory notes form an integral part of the financial statements. Note Corporation 2017 RM'000 2016 RM'000 CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation 1,663,552 1,996,092 Adjustments for: Ships and other property, plant and equipment - Depreciation 400,366 413,333 - Written off 4,224 32,252 - Impairment loss 227,431 9,433 Amortisation of prepaid lease payments 129 108 Amortisation of upfront fees 8,770 14,094 Gain on disposal of other property, plant and equipment (547) - Impairment loss on trade and other receivables 126,643 72,345 Bad debts written off 17,805 - Writeback of impairment loss on trade and other receivables (64,893) (2,441) Impairment loss on investment in subsidiaries 129,452 - Impairment loss on investment in other investments 2,681 - Net unrealised foreign exchange loss/(gain) 26,223 (11,577) Dividend income from equity investments (1,462,084) (1,761,628) Net movement in provision (12,445) (29,384) Gain on disposal of a subsidiary - (29,983) Gain on disposal of a joint venture (118,085) - Interest income (186,228) (179,185) Finance costs 180,252 105,243 Operating profit before working capital changes 943,246 628,702 Inventories 1,953 197,376 Trade and other receivables 1,871,443 529,426 Trade and other payables (1,237,263) (1,156,541) Net cash generated from operating activities 1,579,379 198,963 CASH FLOWS FROM INVESTING ACTIVITIES Net cash generated from investing activities 30 1,462,037 1,641,334 CASH FLOWS FROM FINANCING ACTIVITIES Net cash used in financing activities 31 (3,637,190) (533,930) Net (decrease)/increase in cash and cash equivalents (595,774) 1,306,367 Cash and cash equivalents at beginning of financial year 3,468,856 2,070,683 Currency translation differences (295,309) 91,806 Cash and cash equivalents at end of financial year 2,577,773 3,468,856 Cash and cash equivalents comprise: Cash, deposits and bank balances 23 2,577,773 3,468,856