SECTION 4: FINANCIAL PERFORMANCE 224Registration No: 199301009307 (264044-M) 86 31. FINANCIAL INSTRUMENTS (CONT’D) 31.4 Reconciliation of liabilities arising from financing activities (cont’d) (i) Being dividend paid and issued of new ordinary shares during the financial year amounted RM11,500,000 and RM32,000,000 respectively. (ii) These amounts are net of non-cash additions to lease liabilities, rent concession related to COVID-19 and lease modifications during the financial year amounted to RM30,149,000, RM70,000 and RM162,000 respectively. (iii) These amounts are net of drawdown of term loans and repayment of term loans during the financial year amounted to RM4,974,000 and RM6,292,000 respectively. (iv) These amounts are net of drawdown of bankers’ acceptance and repayment of bankers’ acceptance during the financial year amounted to RM53,271,000 and RM45,863,000 respectively. (v) These amounts are net of drawdown of trust receipts and repayment of trust receipts during the financial year amounted to RM18,654,000 and RM15,710,000 respectively. 1 January 2023 Cash flows Others 31 December 2023 RM’000 RM’000 RM’000 RM’000 Company Amount owing to holding company - - - - 1 January 2022 Cash flows Others 31 December 2022 RM’000 RM’000 RM’000 RM’000 Company Amount owing to holding company 39,577 3,923 (43,500) (i) - (i) Being dividend paid and issued of new ordinary shares during the financial year amounted RM11,500,000 and RM32,000,000 respectively. 32. CAPITAL MANAGEMENT The capital structure of the Group and of the Company consists of net debt of the Group and of the Company comprising borrowings as detailed in Note 16 of the financial statements off set with cash and bank balances, and equity of the Group and of the Company comprising issued capital, reserves, retained earnings and non-controlling interest as detailed in Notes 14, 15 and 6 of the financial statements. The Group’s and the Company’s objectives when managing capital is to maintain a strong capital base and safeguard the Group’s and the Company’s ability to continue as a going concern, so as to maintain investor, creditor and market confidence and to sustain future development of the business. The Directors monitor and determine to maintain an optimal debt-to-equity ratio that complies with debt covenants and regulatory requirements.
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