MSTGOLF Annual Report 2024

151 ANNUAL REPORT 2024 MST GOLF GROUP BERHAD Group Company Note 2024 2023 2024 2023 RM ‘000 RM ‘000 RM ‘000 RM ‘000 INVESTING ACTIVITIES Purchase of property, plant and equipment (17,141) (17,305) (80) (267) Acquisition of right-of-use assets A - (32) - - Proceeds from disposal of property, plant and equipment 49 304 - - Subscription of shares by non-controlling interest of existing/newly incorporated subsidiary 4,373 18,691 - - Subscription of additional shares of subsidiaries - - (22,206) (20,225) Interest received 1,101 933 1,947 1,436 Repayment from/(Advances to) subsidiaries - - 3,773 (40,021) Net withdrawal/(investment) in other investment 4 (26,350) 1,396 (26,350) Withdrawal/(Placement) of fixed deposits pledged 1,853 (612) - - Dividends received - - 7,000 19,198 - Net cash used in investing activities (9,761) (24,371) (8,170) (66,229) FINANCING ACTIVITIES Proceeds from issuance of ordinary shares - 129,600 - 129,600 Share issuance expenses - (3,534) - (3,534) Interest paid (7,444) (6,292) - (55) Dividend paid (10,261) (12,500) (10,261) (12,500) Payment of principal portion of lease liabilities (17,503) (13,095) - - Drawdown of supplier finance arrangement 31,753 20,478 - - Repayment of supplier finance arrangement (33,877) (22,052) - - Drawdown of term loans - 4,224 - - Repayment of term loans (2,747) (2,303) - - Drawdown on bankers’ acceptance 73,795 83,455 - - Repayment of bankers’ acceptance (74,312) (88,373) - - Drawdown of revolving loan - 13,593 - - Repayment of revolving loan (3,421) (13,593) - - Advance from a corporate shareholder of subsidiary 8,195 - - - Net cash (used in)/from financing activities (35,822) 89,608 (10,261) 113,511 CASH AND CASH EQUIVALENTS Net changes (24,152) 56,615 (15,544) 39,537 Effect of foreign exchange rate changes (5,896) 5,145 - - Brought forward 79,345 17,585 40,114 577 Carried forward B 49,297 79,345 24,570 40,114 The accompanying notes form an integral part of the financial statements.

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