EXCEL FORCE MSC BERHAD Annual Report 2017

54 Group Company 2017 2016 2017 2016 Note RM RM RM RM Cash flows from investing activities Addition of product development costs (2,659,940) (2,475,843) (2,377,050) (2,023,770) Incorporation of a subsidiary company 7(b) - - (2) - Additional investment in a subsidiary company 7(c),7(d) - - (500,001) - Purchase of property, plant and equipment (1,870,333) (170,456) (1,870,333) (153,443) Interest income from: - deposits with licensed banks 30,513 1,453 30,513 1,453 - short term funds 531,957 468,573 531,957 455,944 Proceeds from disposal of subsidiary companies, net of cash disposed 7(e) - 242,179 - 482,738 Proceeds from disposal of property, plant and equipment 4,370 24,335 4,370 24,335 Repayment from a subsidiary company - - 800,000 200,000 Net cash used in investing activities (3,963,433) (1,909,759) (3,380,546) (1,012,743) Cash flows from financing activities Dividends paid 25 (5,171,650) (4,135,362) (5,171,650) (4,135,362) Proceeds from issuance of ordinary shares 14 - 66,555 - 66,555 Repayment of term loan (981,108) (981,108) (981,108) (981,108) Net cash used in financing activities (6,152,758) (5,049,915) (6,152,758) (5,049,915) Net (decrease)/increase in cash and cash equivalents (1,702,879) 3,602,305 (1,761,537) 4,607,324 Effect of exchange translation differences on cash and cash equivalents (84,466) 24,831 (84,466) 24,831 Cash and cash equivalents at the beginning of the financial year 23,328,962 19,701,826 23,215,348 18,583,193 Cash and cash equivalents at the end of the financial year 21,541,617 23,328,962 21,369,345 23,215,348 Cash and cash equivalents at the end of the financial year comprises: Cash and bank balances and short term funds 12 21,541,617 23,328,962 21,369,345 23,215,348 The accompanying notes form an integral part of the financial statements. Statements Of Cash Flows For The Financial Year Ended 31 December 2017 (cont’d)