120 FGV HOLDINGS BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 24 INVESTMENT IN SUBSIDIARIES (CONTINUED) (e) Summarised financial information on subsidiaries with material non-controlling interests (continued) Set out below are the summarised financial information for each subsidiary that has non-controlling interests that are material to the Group (other subsidiaries that have non-controlling interests are individually not significant). (continued) Summarised statements of cash flows. MSM Malaysia FGV Palm Holdings Berhad Group Industries Sdn Bhd 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Cash flow generated from operations 89,271 276,902 198,365 198,907 Retirement benefits paid – – (562) (438) Zakat paid (1,000) (1,486) – (3,395) Income tax paid (30,539) (32,930) (10,629) (14,615) Net cash generated from operating activities 57,732 242,486 187,174 180,459 Net cash generated from/(used in) investing activities 148,761 (17,240) (145,095) 85,812 Net cash used in financing activities (211,038) (197,485) (116,718) (174,587) Net (decrease)/increase in cash and cash equivalents (4,545) 27,761 (74,639) 91,684 Effect of foreign exchange rate changes 2,703 (798) – – Cash and cash equivalents at beginning of financial year 179,924 152,961 303,929 212,245 Cash and cash equivalents at end of financial year 178,082 179,924 229,290 303,929 25 INTERESTS IN ASSOCIATES Group 2021 2020 RM’000 RM’000 Share of net assets of associates 65,074 38,058 Summarised financial information in respect of the associates’ revenue and Group’s share of results of its associates is set out below: Group 2021 2020 RM’000 RM’000 Associates’ revenue 104,085 46,332 Group’s share of results for the financial year 3,551 366
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