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Statements of Cash Flows (cont’d)<br />
For the financial year ended 31 December 2011<br />
Group Company<br />
2011 2010 2011 2010<br />
Note RM’000 RM’000 RM’000 RM’000<br />
Operating activities (cont’d)<br />
Adjustments for: (cont’d)<br />
Unwinding of discount on provision 27 130 123 – –<br />
Write back of tin slag inventory<br />
Operating cash flows before changes in working<br />
4 (13,897) (7,860) – –<br />
capital 185,150 125,579 77,067 55,997<br />
Decrease/(Increase) in inventories 114,971 (13,494) 127,074 (52,316)<br />
Increase in receivables (67,956) (80,431) (79,736) (17,909)<br />
Increase in amount due from subsidiaries – – (1,862) (8,283)<br />
Increase in amount due from associates (916) (2,750) (913) (2,749)<br />
Increase/(Decrease) in payables 2,465 74,922 (15,007) 25,249<br />
(Decrease)/Increase in amount due to<br />
holding company (62) 109 (62) 109<br />
Decrease in amount due to a subsidiary – – (14,664) (458)<br />
Increase/(Decrease) in amount due to an associate<br />
and a jointly controlled entity 29,194 (534) 29,194 (500)<br />
Decrease in amount due to a related company – (1,396) – –<br />
Cash generated from/(used in) operations 262,846 102,005 121,091 (860)<br />
Income tax paid (30,516) (18,637) (15,195) (6,917)<br />
Interest paid (23,254) (23,693) (20,269) (19,886)<br />
Severance benefits paid<br />
Net cash generated from/(used in) operating<br />
27 (263) (3,430) – –<br />
activities 208,813 56,245 85,627 (27,663)<br />
Investing activities<br />
Acquisition of subsidiaries – 965 – –<br />
Interest received 11,062 6,250 9,455 5,625<br />
Net dividend received from an associate 21 21 21 21<br />
Net dividend received from subsidiaries – – 31,036 4,084<br />
Payment for an insurance scheme 27 (11,234) (10,722) – –<br />
Payment for corporate club membership<br />
Payment for deferred mine development and<br />
17 (350) – – –<br />
deferred exploration and evaluation expenditure (42,346) (37,397) – –<br />
Payment for prepaid land lease payments<br />
Proceeds from disposal of property, plant<br />
16 (141) – – –<br />
and equipment 438 137 323 –<br />
Proceeds from disposal of shares in an associate<br />
Proceeds from disposal of disposal group classified<br />
– 16,988 – 16,988<br />
as held for sale 22 10,530 – 10,732 –<br />
Purchase of property, plant and equipment 15 (12,171) (25,088) (5,945) (2,448)<br />
Purchase of shares in associates<br />
Net cash (used in)/generated from investing<br />
– (3,529) – (3,529)<br />
activities (44,191) (52,375) 45,622 20,741<br />
MALAYSIA SMELTING CORPORATION (43072-A) • ANNUAL REPORT 2011 83