Serba Dinamik Annual Report 2016

106 SERBA DINAMIK HOLDINGS BERHAD Company No.1167905 P Group Company 25.05.2016 - 2.12.2015 - 31.12.2016 31.12.2016 RM RM Cash flows from operating activities Profit/(Loss) before tax 166,603,987 ( 266,760) Adjustments for: Depreciation of property, plant and equipment (Note 3) 32,951,811 – Finance income (Note 19) (2,277,715) – Finance costs (Note 19) 19,790,227 – Employment benefits (Note 15) 95,128 – Property, plant and equipment written off [Note 3] 16,205,422 – Unrealised foreign exchange gain (434,821) – Operating profit/(loss) before changes in working capital 232,934,039 (266,760) Changes in working capital: Inventories (186,570,243) – Trade and other receivables (107,242,415) (1,413,766) Trade and other payables 118,300,421 1,680,526 Cash generated from operations 57,421,802 – Interest or profit paid (609,044) – Tax paid (401,398) – Net cash from operating activities 56,411,360 – Cash flows from investing activities Cash and cash equivalents acquired through acquisition of subsidiaries 64,311,540 Acquisition of property, plant and equipment [Note (i)] (109,526,489) – Interest received 2,277,715 – Increase in term deposits pledged to banks (21,628,349) – Increase in other investment (10,889,066) – Net cash used in investing activities (75,454,649) – Cash flows from financing activities Interest or profit paid (19,181,183) – Proceed from issuance of ordinary shares 1 1 Net repayment of term loans (12,963,346) – Net repayment of finance lease liabilities (994,912) – Net proceeds from loans and borrowings 95,913,755 – Net cash from financing activities 62,774,315 1 Net increase in cash and cash equivalents (43,731,026) 1 Cash and cash equivalents at beginning of period – – Cash and cash equivalents at end of period [Note (ii)] 43,731,026 1 STATEMENT OF CASH FLOWS for the period from 2 December 2015 (date of incorporation) to 31 December 2016