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Statements of Cash Flows (cont’d) For the financial year ended 31 December 2011 Group Company 2011 2010 2011 2010 Note RM’000 RM’000 RM’000 RM’000 Operating activities (cont’d) Adjustments for: (cont’d) Unwinding of discount on provision 27 130 123 – – Write back of tin slag inventory Operating cash flows before changes in working 4 (13,897) (7,860) – – capital 185,150 125,579 77,067 55,997 Decrease/(Increase) in inventories 114,971 (13,494) 127,074 (52,316) Increase in receivables (67,956) (80,431) (79,736) (17,909) Increase in amount due from subsidiaries – – (1,862) (8,283) Increase in amount due from associates (916) (2,750) (913) (2,749) Increase/(Decrease) in payables 2,465 74,922 (15,007) 25,249 (Decrease)/Increase in amount due to holding company (62) 109 (62) 109 Decrease in amount due to a subsidiary – – (14,664) (458) Increase/(Decrease) in amount due to an associate and a jointly controlled entity 29,194 (534) 29,194 (500) Decrease in amount due to a related company – (1,396) – – Cash generated from/(used in) operations 262,846 102,005 121,091 (860) Income tax paid (30,516) (18,637) (15,195) (6,917) Interest paid (23,254) (23,693) (20,269) (19,886) Severance benefits paid Net cash generated from/(used in) operating 27 (263) (3,430) – – activities 208,813 56,245 85,627 (27,663) Investing activities Acquisition of subsidiaries – 965 – – Interest received 11,062 6,250 9,455 5,625 Net dividend received from an associate 21 21 21 21 Net dividend received from subsidiaries – – 31,036 4,084 Payment for an insurance scheme 27 (11,234) (10,722) – – Payment for corporate club membership Payment for deferred mine development and 17 (350) – – – deferred exploration and evaluation expenditure (42,346) (37,397) – – Payment for prepaid land lease payments Proceeds from disposal of property, plant 16 (141) – – – and equipment 438 137 323 – Proceeds from disposal of shares in an associate Proceeds from disposal of disposal group classified – 16,988 – 16,988 as held for sale 22 10,530 – 10,732 – Purchase of property, plant and equipment 15 (12,171) (25,088) (5,945) (2,448) Purchase of shares in associates Net cash (used in)/generated from investing – (3,529) – (3,529) activities (44,191) (52,375) 45,622 20,741 MALAYSIA SMELTING CORPORATION (43072-A) • ANNUAL REPORT 2011 83
Notes to the Financial Statements (cont’d) For the financial year ended 31 December 2011 84 The accompanying accounting policies and explanatory notes form an integral part of the financial statements. Building on Success: Developing Resources for the Future Group Company 2011 2010 2011 2010 Note RM’000 RM’000 RM’000 RM’000 Financing activities Dividends paid on ordinary shares (Repayment)/Drawdown of short term trade (11,250) (1,687) (11,250) (1,687) financing and other borrowings (110,653) 94,916 (110,653) 67,101 Proceeds from issuance of ordinary shares, net 99,666 – 99,666 – Repayment of term loans Net cash (used in)/generated from financing (30,595) (26,084) (9,181) (9,859) activities (52,832) 67,145 (31,418) 55,555 Net increase in cash and cash equivalents 111,790 71,015 99,831 48,633 Effect of changes in foreign exchange rates 4,138 (16,531) 158 (1,230) Cash and cash equivalents as at 1 January 119,769 65,285 78,378 30,975 Cash and cash equivalents as at 31 December 26 235,697 119,769 178,367 78,378
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ANNUAL REPORT 2011 Building on Succ
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viSion To be a successful world-cla
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Corporate Profile Malaysia Smelting
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Corporate Profile (cont’d) For of
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Notice of Annual General Meeting NO
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Group Financial Highlights 10 Build
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Board of Directors From left to rig
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Directors’ Profile 14 Building on
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Directors’ Profile (cont’d) 16
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Statement by the Chairman 18 Buildi
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Statement by the Chairman (cont’d
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Group Chief Executive Officer/Execu
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Supplementary information 44. Break
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List of Properties of the Group 31
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Tin Statistics (cont’d) 178 Produ
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Shareholding Statistics as at 21 Ma
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Shareholding Statistics (cont’d)
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184 To: The Company Secretary MALAY
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