Annual Report (Complete) - MYCRON Steel Berhad

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Cash Flow Statements for the financial year ended 30 June 2010 Group Company Note 2010 2009 2010 2009 RM RM RM RM CASH FLOWS FROM OPERATING ACTIVITIES Profit/(loss) before tax 32,262,734 (49,656,412) (4,371,630) 819,064 Adjustments for: Depreciation on property, plant and equipment 11,018,514 10,852,558 195,363 195,364 Gain on disposal of property, plant and equipment (104,313) - - - Unrealised (gain)/loss on foreign exchange (10,101,961) 3,454,957 - - Share of results of an associate 97,625 121,500 - - Interest income (152,903) (188,646) (216) (11,113) Interest expense 8,097,288 8,403,928 - - Impairment loss of an associate 3,940,993 3,955,000 3,940,993 3,955,000 Fair value loss of available-for-sale financial assets 616,926 - 616,926 - Provision for doubtful debts 248,301 - - - Impairment loss on staff loan - 199,583 - - Impairment loss on inventories - 40,253,820 - - Inventories written off (Reversal of)/provision for onerous contracts - (403,406) 1,601,266 403,406 - - - - Dividend income - - - (4,500,000) Fair value gain on foreign currency forward contract - (51,750) - - 45,519,798 19,349,210 381,436 458,315 Changes in inventories (76,556,801) 26,285,598 - - Changes in trade and other receivables (33,381,447) 19,725,008 - 57,912 Changes in amount owing by an associate - 239,659 - - Changes in trade and other payables 50,758,420 (7,726,227) 40,690 462,536 Changes in intercompanies balances (18,380,844) (2,670,425) - - (32,040,874) 55,202,823 422,126 978,763 Interest paid (8,225,912) (8,326,413) - - Interest received 160,110 181,440 217 11,113 Tax refund/(paid) (636,831) 4,427,202 (531,417) (279,139) Net cash (used in)/generated from operating (40,743,507) 51,485,052 (109,074) 710,737 activities pg 51 | Mycron Steel Berhad
Cash Flow Statements for the financial year ended 30 June 2010 (continued) Group Company Note 2010 2009 2010 2009 RM RM RM RM CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property, plant and equipment (4,806,932) (5,378,824) - - Proceeds from disposal of property, plant and equipment 230,667 - - - Rebate received from supplier on property, plant and equipment - 5,388,886 - - Dividends received - - - 3,375,000 Net cash (used in)/generated from investing activities (4,576,265) 10,062 - 3,375,000 CASH FLOWS FROM FINANCING ACTIVITIES Dividends paid Purchase of own shares - (52,000) (3,355,414) (330,685) - (52,000) (3,355,414) (330,685) Net proceeds/(repayment of) from borrowings 23,353,272 (33,978,614) - - Advance from/(repayment to) holding company 2,989,043 (571,180) 1,500 (200) Repayment from/(advances to) subsidiaries - - 109,231 (1,042,176) Repayment to other related companies (1,528,159) (1,561,214) (1,153) - Net cash generated from/(used in) financing activities 24,762,156 (39,797,107) 57,578 (4,728,475) NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS (20,557,616) 11,698,007 (51,496) (642,738) CASH AND CASH EQUIVALENTS: - at beginning of financial year 24,776,062 13,078,055 308,682 951,420 - at end of financial year 24 4,218,446 24,776,062 257,186 308,682 The notes set out on pages 53 to 79 form an integral part of these financial statements. pg 52 | Mycron Steel Berhad
Page 2 and 3: Contents Notice of Seventh (7th) An
Page 4 and 5: Notice of Seventh Annual General Me
Page 6 and 7: Chairman’s Statement On behalf of
Page 8 and 9: Chairman’s Statement (continued)
Page 10 and 11: Corporate Information Domicile : Ma
Page 12 and 13: Mycron Steel Berhad pg 11 | Mycron
Page 14 and 15: Quality Recognition pg 13 | Mycron
Page 16 and 17: Profile of Directors Tunku Dato’
Page 18 and 19: Profile of Directors (continued) Da
Page 20 and 21: Profile of Directors (continued) En
Page 22 and 23: Analysis of Shareholdings As at 15
Page 24 and 25: Analysis of Shareholdings As at 15
Page 26 and 27: Statement on Corporate Governance (
Page 36 and 37: Statement on Internal Control 1. In
Page 38 and 39: Statement on Internal Control (cont
Page 40 and 41: Audit Committee Report (continued)
Page 42 and 43: Directors’ Report for the financi
Page 44 and 45: Directors’ Report for the financi
Page 46 and 47: Statement by Directors Pursuant to
Page 48 and 49: Income Statements for the financial
Page 50 and 51: Consolidated Statement of Changes i
Page 54 and 55: Notes to the Financial Statements 3
Page 82 and 83: THIS PAGE HAS BEEN INTENTIONALLY LE
Page 84 and 85: FORM OF PROXY (please refer to the

Annual Report (Complete) - MYCRON Steel Berhad

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