Page 101 - HRC_Annual_Report_2023

Financial Reports &
Governance HENGYUAN REFINING COMPANY BERHAD l ANNUAL REPORT 2023 99
Other Information

STATEMENT OF CASH FLOWS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Note 2023 2022
RM’000 RM’000
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of borrowings (1,494,133) (1,840,106)
Proceeds from borrowings 1,562,225 2,740,325
Interest paid (109,328) (63,048)
Repayment of principal portion of lease liabilities (7,305) (7,996)
Restricted cash for borrowing facilities 92,483 4,245
Dividends paid - (30,000)
Net cash flows generated from financing activities 43,942 803,420

NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS (225,782) 669,579
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF
THE FINANCIAL YEAR 1,233,608 584,536
EFFECTS OF EXCHANGE RATE CHANGES 11,962 (20,507)
CASH AND CASH EQUIVALENTS AT THE END OF THE FINANCIAL YEAR 20 1,019,788 1,233,608

During the financial year ended 31 December 2023, the Company acquired property, plant and equipment with an aggregate cost
of RM276,525,000 (2022: RM161,260,000). Cash payments of RM244,612,000 (2022: RM150,113,000) were made for acquisitions
of property, plant and equipment. The aggregate balance unpaid at the financial year end of RM59,495,000 (2022: RM27,582,000)
is included within accruals for capital expenditure as disclosed in Note 24 and Note 25 respectively.

The accompanying notes to the financial statements form an integral part of these financial statements.