Question 3 Examine the Statement of Cash flows of Sheng Siong Group Ltd and the accompanying notes to the financial statements found in the Annual Reports for 2020. Required: Comment on Sheng Siong's cash flows for 2020. The report must not exceed 500 words. (15 marks) Note 2020 $'000 2019 $'000 139,133 75,755 Operating activities Profit for the year Adjustments for: Depreciation of: - property, plant and equipment -right-of-use assets Loss on disposal of property, plant and equipment Unrealised exchange gain Interest income Interest expense Tax expense 4 17 20,675 29,910 124 (58) 18,055 23,702 43 (88) (1,338) 2,014 16,152 134,295 (984) 2,016 25,975 216,791 4,255 (1,968) 67,323 286,401 (12,253) 274,148 (12,269) (4,992) 15,103 132,137 (14,815) 117,322 Changes in: - inventories - trade and other receivables - trade and other payables Cash generated from operations Taxes paid Cash flows from operating activities Investing activities Proceeds from disposal of property, plant and equipment Purchase of property, plant and equipment Interest received Cash flows used in investing activities Financing activities Dividends paid Proceeds from borrowings Payment of lease liabilities Interest paid on lease liabilities Cash flows used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of the year Effect of exchange rate changes on balances held in foreign currencies Cash and cash equivalents at end of the year 30 (17,131) 984 (16,117) 91 (53,611) 1,338 (52,182) (52,624) (79,687) 30,000 (29,197) (2,016) (80,900) (21,268) (2,014) (75,906) 177,131 76,419 351 253,901 (10,766) 87,234 (49) 76,419 B