Excel Force MSC Berhad Annual Report 2016

EXCEL FORCE MSC BERHAD ANNUAL REPORT 2016 53 Statements of Cash Flows for the Financial Year Ended 31 December 2016 (cont’d) Group Company 2016 2015 2016 2015 Note RM RM RM RM CASH FLOWS FROM INVESTING ACTIVITIES Additions of product development costs 8 (2,475,843) (2,903,104) (2,023,770) (2,194,248) Proceeds from disposal of subsidiaries, net of cash and bank balances 33 242,179 - 482,738 - Repayment from subsidiary - - 200,000 200,000 Interest received from: - deposits with licensed banks 1,453 4,156 1,453 1,036 - short term funds 468,573 347,427 455,944 338,794 Purchase of property, plant and equipment 7 (170,456) (431,952) (153,443) (399,478) Proceeds from disposal of property, plant and equipment 24,335 48,355 24,335 47,882 Net cash used in investing activities (1,909,759) (2,935,118) (1,012,743) (2,006,014) CASH FLOWS FROM FINANCING ACTIVITIES Dividends paid 27 (4,135,362) (6,203,043) (4,135,362) (6,203,043) Interest paid - (418) - (418) Repayments of - hire purchase and finance lease liabilities - (25,562) - (25,562) - term loan (981,108) (981,108) (981,108) (981,108) Proceeds from issuance of ordinary shares 66,555 - 66,555 - Net cash used in financing activities (5,049,915) (7,210,131) (5,049,915) (7,210,131) NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 3,602,305 (921,095) 4,607,324 (1,048,356) EFFECTS OF EXCHANGE RATE CHANGES 24,831 75,810 24,831 75,810 CASH AND CASH EQUIVALENTS AT BEGINNING OF FINANCIAL YEAR 19,701,826 20,547,111 18,583,193 19,555,739 CASH AND CASH EQUIVALENTS AT END OF FINANCIAL YEAR 14 23,328,962 19,701,826 23,215,348 18,583,193 The accompanying notes form an integral part of the financial statements.