32. CASH FLOWS FROM FINANCING ACTIVITIES Group Corporation 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Drawdown of term loans 5,099,178 6,208,196 – – Drawdown of revolving credits 1,036,415 1,245,768 746,275 735,303 Drawdown of loans from subsidiaries – – 746,275 770,366 Repayment of term loans (1,541,614) (2,824,030) – – Repayment of revolving credits (1,401,338) (3,773,994) (1,098,682) (1,152,114) Repayment of loan due to subsidiaries – – (979,761) (756,311) Dividends (Note 13) (1,473,035) (1,473,035) (1,473,035) (1,473,035) Dividends paid to minority shareholders of subsidiaries (24,500) (3,000) – – Interest paid (414,552) (414,747) (19,710) (28,013) Payment of lease liabilities (188,327) (316,302) (13,928) (13,896) Withdrawal/(placement) of cash pledged with bank (restricted) 406,765 (37,563) – – Net cash generated from/(used in) financing activities 1,498,992 (1,388,707) (2,092,566) (1,917,700) 33. RELATED PARTY DISCLOSURES In addition to related party disclosures elsewhere in the financial statements, set out below are other significant related party transactions. The directors are of the opinion that, unless otherwise stated, the transactions below have been entered into in the normal course of business at terms agreed between the parties during the financial year. As the holding company is wholly owned by the MoF, the Group is deemed to be related to entities that are controlled, jointly controlled or significantly influenced by the Government of Malaysia. 33. RELATED PARTY DISCLOSURES (CONT’D.) Group Corporation 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 (a) Income from fellow subsidiaries Freight and charter hire revenue 2,170,795 2,174,576 723,219 724,723 Fabrication services 1,134,748 1,088,599 – – Finance lease income 320,398 344,699 – – Offshore, maintenance and manpower services 73,326 129,246 43,961 49,448 Marine and consultancy services 26,257 35,862 – – Sungai Udang Port management 20,572 22,669 – – (b) Purchase from fellow subsidiaries Purchase of bunkers, lubricants, spare parts and other materials (145,002) (72,657) (47,634) (23,551) Purchase of service for rental of premises (24,166) (21,869) (22,811) (20,545) Fees for representation in the Board of Directors* (342) (469) (342) (469) (c) Management fee from subsidiaries Fees for representation in the Board of Directors** – – 936 954 (d) Purchase of service for repairs, conversion of ships, drydocking and fabrication from a subsidiary – – (1,777) (3,550) (e) Purchase of ship operating and management services from a subsidiary – – (16,918) (175,655) (f) Government of Malaysia’s related entities (i) Purchase of goods and services Utilities (23,967) (28,680) (4,065) (4,687) (g) Compensation of key management personnel (“KMP”) KMP are defined as persons having authority and responsibility for planning, directing and controlling the activities of the Group and of the Corporation, directly or indirectly, including any director of the Group and of the Corporation. * Fees paid directly to PETRONAS in respect of directors who are appointees of the holding company. ** Fees received from subsidiaries in respect of directors who are appointees of the Corporation. NOTES TO THE FINANCIAL STATEMENTS 31 December 2021 NOTES TO THE FINANCIAL STATEMENTS 31 December 2021 MISC Berhad 402 Integrated Annual Report 2021 MISC Berhad Integrated Annual Report 2021 403 FINANCIAL STATEMENTS FINANCIAL STATEMENTS
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