CAHYA MATA SARAWAK ANNUAL REPORT 2016

www.cmsb .com.my Cahya Mata Sarawak Berhad 98 Section 07 Financial Statements Note 2016 2015 Group (cont'd.) RM’000 RM’000 Operating activities (cont'd.) Changes in working capital Increase in property development costs (82,438) (101,214) Decrease/(increase) in land held for development 67,775 (224,495) Increase in inventories (41,789) (23,703) (Increase)/decrease in other current assets (288) 9,114 Decrease/(increase) in receivables 125,951 (86,203) (Decrease)/increase in payables (166,383) 104,958 Increase in other current liabilities 80,489 23,039 Total changes in working capital (16,683) (298,504) Cash flows from operations 322,517 72,090 Interest received 7,217 1,978 Interest paid (21,188) (18,810) Income taxes paid, net of refund (83,350) (92,978) Net cash flows from/(used in) operating activities 225,196 (37,720) Investing activities Acquisition of an associate - (186,790) Acquisition of an derivative financial asset 28 - (35,414) Acquisition of property, plant and equipment (excluding interest expense capitalised) 13 (55,795) (183,223) Acquisition of investment securities (19,239) (52,666) Acquisition of additional interests in associates 20(a)/(c) (176,900) (65,962) Additional costs incurred on intangible assets 17 (1,080) (2,266) Advancement of shareholder’s loan - (47,840) Additional investments in joint ventures 21 (3,601) (102) Dividends received from associates 2,068 3,901 Dividends received from investments 9,599 21,473 Distribution of profit from joint ventures 9,834 3,884 Net proceeds from liquidation of subsidiaries - 87 Net cash outflow from deconsolidation of a subsidiary - (69) Proceeds from disposal of property, plant and equipment 2,724 955 Proceeds from disposal of investment securities 108,735 83,626 Redemption of redeemable preference shares - 4,431 Net cash flows used in investing activities (123,655) (455,975) Statements of Cash Flows For the financial year ended 31 December 2016