EXCEL FORCE MSC BERHAD Annual Report 2019

EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2019 56 Group Company 2019 2018 2019 2018 Note RM RM RM RM Cash flows from investing activities Additions of product development costs (2,681,130) (2,762,433) (2,392,715) (2,491,022) Acquisition of: - property, plant and equipment (437,104) (367,685) (437,104) (367,679) - capital work-in-progress - (8,384,910) - (8,384,910) - right-of-use assets (11,371,290) - (11,371,290) - Acquisition of other investments (13,730,640) - (13,730,640) - Interest income from: - deposits with licensed banks 82,004 43,389 63,342 36,923 - short-term funds 1,391,366 769,945 1,391,366 769,945 Proceeds from disposal of: - property, plant and equipment 500 46,675 500 46,575 - assets held for sale - 15,665,000 - 15,665,000 Repayment from a subsidiary company - - 500,000 300,000 Net cash (used in)/from investing activities (26,746,294) 5,009,981 (25,976,541) 5,574,832 Cash flows from financing activities Dividends paid 30 (6,028,784) (6,217,230) (6,028,784) (6,217,230) Proceeds from issuance of ordinary shares 16 68,304,785 255,000 68,304,785 255,000 Purchase of treasury shares 18 (19,440,808) - (19,440,808) - Payment of lease liabilities (375,295) - (375,295) - Repayment of term loan - (4,240,002) - (4,240,002) Net cash from/(used in) financing activities 42,459,898 (10,202,232) 42,459,898 (10,202,232) Net (decrease)/increase in cash and cash equivalents (7,018,987) 8,265,646 (7,278,919) 7,638,553 Effect of exchange translation differences on cash and cash equivalents (4,531) 5,318 (4,531) 5,318 Cash and cash equivalents at the beginning of the financial year 29,812,581 21,541,617 29,013,216 21,369,345 Cash and cash equivalents at the end of the financial year 22,789,063 29,812,581 21,729,766 29,013,216 Cash and cash equivalents at the end of the financial year comprises: Deposits, bank and cash balances and short-term funds 15 22,789,063 29,812,581 21,729,766 29,013,216 statements of cash flows for the financial year ended 31 december 2019 (cont’d) The accompanying notes form an integral part of the financial statements.