Financial Statements Financial Statements Press Metal Aluminium Holdings Berhad 218 219 Integrated Annual Report 2023 Statements of Cash Flows for the year ended 31 December 2023 Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Cash flows from investing activities Acquisition of a subsidiary, net of cash and cash equivalents acquired (Note 32.1) - (4,444) - - Acquisition of property, plant and equipment (701,625) (652,092) (2,534) - Acquisition of right-of-use assets (2,787) (924) - - Change in pledged deposits 67,707 (128,578) (622) (60,249) Dividends received from subsidiaries - - 692,400 543,600 Dividends received from an associate 51,250 4,688 43,470 2,148 Decrease in amounts due from subsidiaries - - 13,066 267,732 Increase in investment in an associate (124,576) (32,214) (124,576) (32,214) Interest received from Irredeemable Convertible Secured Loan Stocks of an associate 1,765 1,765 1,765 1,765 Interest received from short-term deposits 22,032 8,156 2,046 1,812 Loans to a subsidiary - - (500,000) - Proceeds from disposal of property, plant and equipment 2,337 2,651 - - Proceeds from disposal of right-of-use assets 591 61 - - Proceeds from disposal of investment properties 3,175 3,146 - - Proceeds from disposal of investment in subsidiaries 15,086 - - - Proceeds from disposal of interest in a subsidiary 27,019 - - - Repayment of loans to a subsidiary - - 484,325 544,826 Net cash (used in)/generated from investing activities (638,026) (797,785) 609,340 1,269,420 Cash flows from financing activities Increase in amounts due to subsidiaries - - 888 7,760 Dividends paid to non-controlling interests of subsidiaries (173,100) (135,900) - - Dividends paid to owners of the Company (576,772) (492,742) (576,772) (492,742) Drawdown of bank loans 431,094 495,246 124,308 131,700 Drawdown of bankers’ acceptances 3,234,410 5,050,895 - - Drawdown of revolving credits 489,593 - - - Interest paid in relation to lease liabilities (9,006) (9,643) - - Interest paid on loans and borrowings (233,469) (232,347) (132,487) (121,186) Proceeds from issuance of shares - 970,588 - 970,588 Transaction costs paid on issue of shares - (6,331) - (6,331) Payment of lease liabilities (27,617) (35,046) - - Proceeds from issuance of Islamic Medium-Term Notes 500,000 - 500,000 - Repayment of bank loans (827,248) (820,366) (545,766) (422,628) Repayment of bankers’ acceptances (3,833,298) (5,902,269) - - Repayment of revolving credits (511,272) (145,763) - - Net cash (used in)/from financing activities (1,536,685) (1,263,678) (629,829) 67,161 Net cash flows from/(used in) operating, investing and financing activities 691,271 (3,288) 92,233 1,438 Effect of foreign currency translation differences (5,408) 2,309 - - Net increase/(decrease) in cash and cash equivalents 685,863 (979) 92,233 1,438 Effect of exchange rate fluctuations on cash held 4,929 15,445 - - Cash and cash equivalents at 1 January 449,895 435,429 2,018 580 Cash and cash equivalents at 31 December 1,140,687 449,895 94,251 2,018 Statements of Cash Flows for the year ended 31 December 2023 CASH AND CASH EQUIVALENTS Cash and cash equivalents included in the statements of cash flows comprise the following statements of financial position amounts: Note Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Deposits 14 250,052 288,177 78,955 78,333 Less: Pledged deposits 14 (78,955) (146,662) (78,955) (78,333) 171,097 141,515 - - Cash and bank balances 14 977,956 315,825 94,251 2,018 Bank overdrafts 16 (8,366) (7,445) - - 1,140,687 449,895 94,251 2,018 ACQUISITION OF RIGHT-OF-USE ASSETS During the financial year ended 31 December 2023, the Group recognised right-of-use assets amounting to RM31,252,000 (2022: RM64,426,000) of which RM2,787,000 (2022: RM924,000) were down payments made in cash. CASH OUTFLOWS FOR LEASES AS A LESSEE Note Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Included in net cash from operating activities: Payment relating to short-term leases 18,066 18,671 696 695 Included in net cash from financing activities: Interest paid in relation to lease liabilities 21 9,006 9,643 - - Payment of lease liabilities 27,617 35,046 - - Total cash outflows for leases 54,689 63,360 696 695
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