140 MKH BERHAD | ANNUAL REPORT 2023 The Group The Company 2023 2022 2023 2022 RM RM RM RM CASH FLOWS (USED IN)/ FROM INVESTING ACTIVITIES Advances to subsidiaries - - (50,674,886) (35,529,594) Acquisition of shares in subsidiaries - net of cash (Note 35) - 23,495 - (300,001) Subscription of shares in associates - (12,048,951) - - Acquisition of other investment (157,862) (889,439) - - Acquisition of property, plant and equipment (29,248,967) (17,761,844) - - Acquisition of non-controlling interests in subsidiaries - (980) - (980) Additions to intangible assets (6,294,572) (2,176,148) - - Additions to land held for property development (17,303,046) (73,573,463) - - Deposits and consideration paid for the acquisition and joint venture of development lands (17,000,000) (10,000,000) - - Dividends received from: Subsidiaries - - 104,684,000 90,304,250 Other investment 56,489 46,223 - - (Placement)/Withdrawal of deposits with licensed banks (5,177,895) 14,144,285 - - Redemption of redeemable convertible preference shares by a subsidiary - - 9,500,000 - Proceeds from capital reduction in an associate 3,600,000 - - - Proceeds from disposal of: Land held for property development 367,000 - - - Non-current assets classified as held for sale 1,111,746 1,712,705 - - Other investment 143,251 121,241 - - Property, plant and equipment 460,701 259,801 - - Subsidiaries - net of cash (Note 35) - 216,316 1,000 300,001 Proceed from capital reduction from subsidiaries - - 5,899,513 - Net Cash (Used In)/From Investing Activities (69,443,155) (99,926,759) 69,409,627 54,773,676 STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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