Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

Statements of Cash Flows
For the fi nancial year ended 31 December 2011
Company Note 2011 2010
RM’000 RM’000
Operating activities
Profi t before tax 143,593 19,060
Adjustments for:
Amortisation of intangible assets 8 457 448
Amortisation of prepaid land lease payments 8 426 79
Amortisation of transaction costs 7 265 265
Depreciation of property, plant and equipment 8 972 858
Distribution of surplus cash by a subsidiary on liquidation 6 (160,148 ) -
Fair value adjustments on investment properties 8 1,464 -
Gain on disposal of property, plant and equipment 6 (1 ) (4 )
Gross dividend income 4 (46,344 ) (79,729 )
Impairment loss on advances to subsidiaries 8 30,807 5,668
Impairment loss on investment in a subsidiary 8 - 30,877
Interest expense 7 22,242 24,226
Interest income 4 (12,516 ) (16,669 )
Net fair value changes in investment securities 6 (1,552 ) (3,032 )
Net realised gain on disposal of investment securities 6 (230 ) (118 )
Property, plant and equipment written off 8 - 2
Grant of equity-settled share options to employees 9 2,061 1,362
Total adjustments (162,097 ) (35,767 )
Operating cash fl ows before changes in working capital (18,504 ) (16,707 )
Changes in working capital
Increase in receivables (475 ) (36,581 )
(Decrease)/increase in payables (633,753 ) 520,911
Total changes in working capital (634,228 ) 484,330
Cash fl ows (used in)/from operations (652,732 ) 467,623
Interest received 12,516 16,669
Interest paid (22,786 ) (25,850 )
Tax refunded 8,983 827
Net cash fl ows (used in)/from operating activities (654,019 ) 459,269
Investing activities
Acquisition of property, plant and equipment 13 (1,953 ) (1,178 )
Proceeds from disposal of property, plant and equipment 177 51
Acquisition of prepaid land leases 14 - (11,500 )
Purchase of investment securities (159,650 ) (58,278 )
Proceeds from disposal of investment securities 160,771 76,650
Proceeds from distribution of surplus cash by a subsidiary on liquidation 605,648 -
Additional costs incurred on intangible assets 17 (47 ) -
Additional costs incurred on investment properties 16 (3,415 ) (3 )
Dividends received 42,095 66,476
Acquisition of additional interest in existing subsidiaries (12,750 ) (92,750 )
Net cash fl ows from/(used in) investing activities 630,876 (20,532 )
Financing activities
Repayment of CMS Income Securities 30 (85,000 ) (80,000 )
Dividends paid on ordinary shares 46 (24,711 ) (12,354 )
Proceeds from subsidiaries for allocation of share options
to their employees 4,329 2,881
Proceeds from exercise of employee share options 77 -
Net cash fl ows used in fi nancing activities (105,305 ) (89,473 )
Net (decrease)/increase in cash and cash equivalents (128,448 ) 349,264
Cash and cash equivalents at 1 January 753,990 404,726
Cash and cash equivalents at 31 December 28 625,542 753,990
The accompanying accounting policies and explanatory notes form an integral part of the fi nancial statements.
Annual Report 2011 81