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Masterskill Education Group Berhad / Annual Report 2012<br />
64<br />
STATEMENTS OF CASH FLOWS<br />
FOR THE YEAR ENDED 31 DECEMBER 2012<br />
Group Company<br />
Note 2012 2011 2012 2011<br />
Rm’000 Rm’000 Rm’000 Rm’000<br />
Cash flows from operating activities<br />
(Loss)/Profit before tax<br />
Adjustments for:<br />
(35,447) 42,954 65,865 50,614<br />
Depreciation of property, plant and equipment 25,212 22,745 –<br />
–<br />
Interest expense 3,489 3,254 –<br />
–<br />
Interest income (2,459) (4,551) (1,306) (2,800)<br />
Property, plant and equipment written off<br />
Loss/(Gain) on disposal of property,<br />
5,247 4 –<br />
–<br />
plant and equipment 656 (3) –<br />
–<br />
Operating (loss)/profit before working<br />
capital changes (3,302) 64,403 64,559 47,814<br />
Changes in working capital:<br />
Trade and other receivables and prepayments 62,142 18,799 (73,221) (14,748)<br />
Trade and other payables (35,391) (11,761) (4,779) 3,656<br />
Cash generated from/(used in) operating activities 23,449 71,441 (13,441) 36,722<br />
Income tax refund 8,726 –<br />
–<br />
–<br />
Income tax paid (345) (11,173) (336) (652)<br />
Interest paid (3,489) (3,254) –<br />
–<br />
Interest received 2,459 4,551 1,306 2,800<br />
Net cash from operating activities 30,800 61,565 (12,471) 38,870<br />
Cash flows from investing activities<br />
Increase in investments in subsidiaries –<br />
– (7,550) (31)<br />
Increase in intangible assets – (49) –<br />
–<br />
Acquisition of other investments – (3,054) – (3,054)<br />
(Uplift of)/Deposits pledged with licensed banks (60) 222 –<br />
–<br />
Purchase of property, plant and equipment<br />
Proceeds from disposal of property,<br />
(57,839) (51,947) –<br />
–<br />
plant and equipment 158 3 –<br />
–<br />
Net cash used in investing activities (57,741) (54,825) (7,550) (3,085)<br />
Cash flows from financing activities<br />
Disposal to non-controlling interests 150 –<br />
–<br />
–<br />
Repayment of borrowings (8,600) (7,034) –<br />
–<br />
Proceeds from borrowings 26,200 18,600 –<br />
–<br />
Repayment of finance lease liabilities (3,511) (2,878) –<br />
–<br />
Dividend paid (65,749) (49,517) (65,749) (49,517)<br />
Net cash used in financing activities (51,510) (40,829) (65,749) (49,517)<br />
Net decrease in cash and cash equivalents (78,451) (34,089) (85,770) (13,732)<br />
Cash and cash equivalents at 1 January 109,735 143,824 88,907 102,639<br />
Cash and cash equivalents at 31 December (i) 31,284 109,735 3,137 88,907