MISC Annual Report 2019

Group Note 2019 2018 RM’000 RM’000 CASH FLOWS FROM INVESTING ACTIVITIES Net cash used in investing activities 30 (1,533,025) (3,636,803) CASH FLOWS FROM FINANCING ACTIVITIES Net cash used in financing activities 31 (3,772,691) (822,695) Net increase/(decrease) in cash and cash equivalents 273,341 (360,271) Cash and cash equivalents at beginning of financial year 5,534,849 5,792,035 Currency translation differences (67,755) 103,085 Cash and cash equivalents at end of financial year 5,740,435 5,534,849 Cash and cash equivalents comprise: Cash, deposits and bank balances 23 7,030,814 5,755,604 Less: Cash pledged with bank - restricted (1,289,730) (218,429) Deposits with maturity more than 90 days (649) (2,326) Cash and cash equivalents 5,740,435 5,534,849 2019 RM’000 Total cash outflows for leases - Lease liabilities 447,834 - Short term leases and leases of low-value assets 295,762 743,596 The accompanying accounting policies and explanatory notes form an integral part of the financial statements. STATEMENTS OF CASH FLOWS For the year ended 31 December 2019 Corporation 2019 2018 RM’000 RM’000 CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation 1,865,910 1,252,261 Adjustments for: Ships, other property and equipment and right-of-use assets: - Depreciation 365,692 348,426 - Written off 525 4,377 - Impairment loss 8,582 49,802 Amortisation of prepaid lease payments 124 121 Amortisation of upfront fees for borrowings – 6,121 Gain on disposal of ships – (4,985) Writeback of impairment loss on: - Finance lease receivables (369) – Impairment loss on: - Trade and other receivables 22,019 133,327 - Finance lease receivables – 7,662 Bad debts written off 524 – Impairment loss on investment in subsidiaries 92,825 41,789 Net unrealised foreign exchange gain (3,432) (9,497) Dividend income from equity investments (1,492,990) (1,153,064) Gain on acquisition of businesses (23,731) (100,001) Fair value movement in other investments 5,175 15,120 Finance income (195,140) (224,384) Finance costs 129,416 207,300 Gain from liquidation of a subsidiary (151,869) – Operating profit before working capital changes 623,261 574,375 Inventories – 21,182 Trade and other receivables 1,112,584 1,706,346 Trade and other payables (90,830) 242,116 Net cash generated from operating activities 1,645,015 2,544,019 The accompanying accounting policies and explanatory notes form an integral part of the financial statements. STATEMENTS OF CASH FLOWS For the year ended 31 December 2019 FINANCIAL STATEMENTS MISC BERHAD PEOPLE. PASSION. POSSIBILITIES ANNUAL REPORT 2019 250 251