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