board of directors - Petron

STATEMENT OF CASH FLOWSFOR THE YEAR ENDED DECEMBER 31, 2001Note 2001 2000RM'000 RM'000CASH FLOWS FROM OPERATING ACTIVITIESNet profit attributable to shareholders 182,481 21,873Adjustments for:Depreciation on property, plant and equipment 65,949 61,060Amortisation of intangible assets 827 -Tax expense 74,024 16,753Interest income (264) (247)Interest expense 27,606 33,899Provision for retirement benefits 5,574 6,848(Gain)/Loss on disposal of property, plant and equipment (469) 1,479Changes in:Increase in inventories (37,355) (2,313)Increase in receivables (94,934) (12,134)Decrease / (Increase) in amounts due from related companies 30,849 (75,747)(Decrease) / Increase in amounts due to related companies (94,611) 35,900Increase in payables 35,222 23,543Cash generated from operations 194,899 110,914Interest paid (28,295) (34,249)Interest received 264 247Income taxes paid (12,719) -Retirement benefits/severance expenses paid (6,125) (1,964)Net cash from operating activities 148,024 74,948CASH FLOWS FROM INVESTING ACTIVITIESPurchase of property, plant and equipment (174,402) (59,669)Purchase of intangible assets (4,876) (12,746)(Increase)/Decrease in long term assets and receivables (4,101) 4,801Proceeds from disposal of property, plant and equipment 1,282 1,020Net cash used in investing activities (182,097) (66,594)CASH FLOWS FROM FINANCING ACTIVITIESProceeds from / (Repayment of) short-term borrowings 24,000 (7,000)Repayment of long-term borrowings - (29,750)Net cash from / (Net cash used in) financing activities 24,000 (36,750)NET DECREASE IN CASH AND CASH EQUIVALENTS (10,073) (28,396)CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 172 28,568CASH AND CASH EQUIVALENTS AT END OF YEAR 19 (9,901) 172ANNUAL REPORT & ACCOUNTS 200127ESSO MALAYSIA BERHAD