TANJUNG OFFSHORE BERHAD

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CASH FLOW STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2009 CASH FLOW FROM OPERATING ACTIVITIES 71 TANJUNG OFFSHORE BERHAD (662315-U) ANNUAL REPORT 2009 GROUP COMPANY NOTE 2009 2008 2009 2008 RM RM RM RM Profi t before taxation 4,774,584 34,225,442 12,700,575 5,189,253 Adjustments for: Amortisation of Bonds issuance cost 201,942 201,942 201,942 201,942 Amortisation of intangible assets 660,800 247,598 - - Bad debt written off 5,336 - - - Dividend from subsidiary company - - (13,675,000) (5,250,000) Depreciation of property, plant and equipment 26,663,160 18,395,357 - - Loss on disposal of property, plant and equipment 26,519 - - - Gain on disposal of property, plant and equipment (109,178) (36,282) - - Property, plant and equipment written off - 364,277 - - Loss on foreign exchange 714,977 2,590,922 - - Gain on foreign exchange (686,045) - - - ESOS expenses 247,311 210,516 247,311 210,516 Share of loss/(profi t) of associated company (2,697,947) 328,860 - - Interest expense 19,222,826 12,681,489 - - Interest income (439,736) (1,279,382) (430,791) (1,229,590) Operating profi t/(loss) before changes in working capital 48,584,549 67,930,739 (955,963) (877,879) Decrease/(Increase) in inventories 8,945,422 (15,671,483) - - Decrease/(Increase) in receivables 13,084,164 (150,036,862) 13,765 (54,110) Balances with subsidiary companies - - 21,347,846 (125,716,873) (Decrease)/Increase in payables (19,840,357) 102,118,940 2,555,168 3,213,273 Cash generated from/(used in) operations 50,773,778 4,341,334 22,960,816 (123,435,589) Tax paid (3,368,427) (817,720) (318,309) (134,000) Net cash generated from/(used in) operating activities 47,405,351 3,523,614 22,642,507 (123,569,589) See accompanying notes to the fi nancial statements.
TANJUNG OFFSHORE BERHAD (662315-U) ANNUAL REPORT 2009 CASH FLOW STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2009 CASH FLOWS FROM INVESTING ACTIVITIES GROUP COMPANY NOTE 2009 2008 2009 2008 RM RM RM RM Purchase of property, plant and equipment 27 (195,008,725) (189,902,955) - - Proceeds from disposal of property, plant and equipment 127,173 323,645 - - Investment in associated company - (127,450) - - Investment in subsidiary companies 37 (3,375,523) - (42,121,702) (3,378,836) Purchase of intangible assets 6 (86,988) (7,308,588) - - Dividend from subsidiary company - - 13,675,000 5,250,000 Interest received 439,736 1,279,382 430,791 1,229,590 Net cash (used in)/generated from investing activities (197,904,327) (195,735,966) (28,015,911) 3,100,754 CASH FLOW FROM FINANCING ACTIVITIES Issuance of shares 3,269,978 63,377,875 3,269,978 63,377,875 Repurchase of shares 18 (45,190) (4,350,641) (45,190) (4,350,641) Expenses incurred on corporate exercise (284,023) (1,925,613) (284,023) (1,925,613) Proceeds from borrowings 152,392,071 188,979,918 - 120,028,833 Repayment of hire purchase and fi nance lease (1,092,085) (863,010) - - Repayment of serial fi xed rate bond (20,000,000) - (20,000,000) - Repayment of term loan - (3,955,780) - - Interest paid (19,222,826) (12,681,489) - - Decrease/(Increase) in fi xed deposits pledged as security 5,280,921 (6,222,368) 2,891,152 (5,325,105) Dividend paid 26 (10,989,908) (4,540,500) (10,989,908) (4,540,500) Net cash generated from/(used in) fi nancing activities 109,308,938 217,818,392 (25,157,991) 167,264,849 Net (decrease)/increase in cash and cash equivalents (41,190,038) 25,606,040 (30,531,395) 46,796,014 Cash and cash equivalents at beginning of the year 32,984,982 7,378,942 54,618,652 7,822,638 Effects on exchange rate changes on cash and cash equivalents (1,188,074) - - - Cash and cash equivalents at end of the year 28 (9,393,130) 32,984,982 24,087,257 54,618,652 See accompanying notes to the fi nancial statements. 72
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TANJUNG OFFSHORE BERHAD

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