MISC Integrated Annual Report 2020

Non Distributable Distributable Non Distributable Other Currency Total Share Treasury Retained reserves, translation Corporation Note equity capital* shares profits total reserve RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 2020 At 1 January 2020 23,921,238 8,923,262 (271) 11,165,769 3,832,478 3,832,478 Total comprehensive income 1,480,653 – – 1,912,336 (431,683) (431,683) Transactions with equity holders Dividends 13 (1,473,035) – – (1,473,035) – – At 31 December 2020 23,928,856 8,923,262 (271) 11,605,070 3,400,795 3,400,795 2019 At 1 January 2019 23,655,857 8,923,262 (271) 10,640,478 4,092,388 4,092,388 Total comprehensive income 1,604,504 – – 1,864,414 (259,910) (259,910) Transactions with equity holders Dividends 13 (1,339,123) – – (1,339,123) – – At 31 December 2019 23,921,238 8,923,262 (271) 11,165,769 3,832,478 3,832,478 * Included in share capital is one special preference share of RM1. The accompanying accounting policies and explanatory notes form an integral part of the financial statements. For the year ended 31 December 2020 STATEMENTS OF CHANGES IN EQUITY For the year ended 31 December 2020 STATEMENTS OF CASH FLOWS Group 2020 2019 RM’000 RM’000 CASH FLOWS FROM OPERATING ACTIVITIES (Loss)/profit before taxation (123,584) 1,512,323 Adjustments for: Writeback of impairment loss on: - Finance lease receivables (8,878) (5,455) Impairment loss on: - Trade and other receivables 34,563 36,839 Bad debts written off 6,120 1,065 Ships, offshore floating assets, other property, plant and equipment and right-of-use assets: - Depreciation 2,090,970 2,215,528 - Written off 23,639 13,189 - Impairment loss 331,376 214,943 Amortisation of prepaid lease payments 7,359 7,405 Amortisation of upfront fees for borrowings 21,531 26,188 Amortisation of intangible assets 5,884 6,373 Gain on disposal of ships and an offshore floating asset (25,135) (7,884) Net unrealised foreign exchange (gain)/loss (4,905) 1,636 Changes in fair value of hedging derivatives 3,235 – Dividend income from equity investments (1,087) (1,572) Write off of trade receivables and loss on re-measurement of finance lease receivables 846,229 – Provision for litigation claims 1,049,248 – Gain on acquisition of a business – (23,731) Fair value movement in other investments 6,953 5,175 Finance income (112,612) (169,249) Finance costs 368,084 484,303 Share of profit of joint ventures (428,782) (250,629) Share of profit of an associate (241) – Operating profit before working capital changes 4,089,967 4,066,447 Inventories 74,712 82,518 Trade and other receivables 399,611 1,398,311 Trade and other payables 465,496 119,132 Deferred income 619,447 (39,900) Cash generated from operations 5,649,233 5,626,508 Net tax paid (61,328) (47,451) Net cash generated from operating activities 5,587,905 5,579,057 The accompanying accounting policies and explanatory notes form an integral part of the financial statements. 10 326 10 327 /// Leadership / Governance / Financial Statements / Additional Information / Annual General Meeting ////// /// Leadership / Governance / Financial Statements / Additional Information / Annual General Meeting ////// Section Section MISC Berhad / Integrated Annual Report 2020 MISC Berhad / Integrated Annual Report 2020