Statement of Cash Flows for the year ended 31 December 2018 Note 2018 2017

Statement of cash flows for the year ended 31

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Statement of Cash Flows for the year ended 31 December 2018 Note 2018 2017 RM’000 RM’000 Cash flows from operating activities Cash receipts from customers and other receivables 1,057,103 1,047,70 0 Cash paid to suppliers and employees (896,760) (959,633 ) Cash generated from operations 160,343 88,067 Income tax paid (39,893) (44,981 ) Net cash from operating activities 120,450 43,086 Cash flows from investing activities Purchase of property, plant and equipment 3 (34,263) (15,683 ) Purchase of intangible assets 4 (15) (597) Interest received 857 3,109 Net cash used in investing activities (33,421) (13,171) Cash flows from financing activities Interest paid (3,431) (2,995) Dividends paid 17 (128,000) (179,200 ) Net cash used in financing activities (131,431) (182,19 5) Net decrease in cash and cash equivalents (44,402) (152,280 ) Cash and cash equivalents at 1 January 61,339 213,619 Cash and cash equivalents at 31 December 7 16,937 61,339 Note to the statement of cash flows Cash flows from financing activities mainly arose from interest paid to a licensed financial institution to enable certain trade customers to pay goods invoiced through a corporate Page 8
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Financial Accounting IV purchasing card issued by the financial institution, and dividends paid on ordinary shares. None of these relate to a change in liabilities. Explanation of the items and changes in the cash flow statement of the company selected. Dutch Lady Milk Industries Berhad is a public limited liability company, incorporated and domiciled in Malaysia and is listed on the Main Market of Bursa Malaysia Securities Berhad. 1. Basis of Preparation (a) Statement of compliance. The financial statements of the Company have been prepared in accordance with Malaysian Financial Reporting Standards (“MFRSs”), International Financial Reporting Standards and the requirements of the Companies Act 2016 in Malaysia. The financial statements have been prepared under the historical cost convention, as modified by the fair value through other comprehensive income financial assets, and financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss. The Company has applied the following standards and amendments for the first time for the financial year beginning on 1 January 2018: MFRS 9, Financial Instruments o The Company applied MFRS 9 ‘Financial Instruments’ for the first time in the 2018 financial statements with the date of initial application of 1 January 2018. The standard is applied retrospectively. In accordance with the transitional provisions provided in MFRS 9, comparative information for 2017 was not restated and continued to be reported under the previous accounting policies governed under MFRS 139. The cumulative effects of initially applying MFRS 9 were immaterial and hence no adjustment was made to the opening balance of retained earnings as at 1 January 2018. The detailed impact of the change in accounting policy on financial instruments is disclosed in Note 19.4 under Changes to Loss Allowance.
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