Group
Trust
2014
2013
2014
2013
(Restated)
$’000
$’000
$’000
$’000
Cash flows from operating activities
Net income
452,013 397,558 396,500 361,015
Adjustments for:
Interest income
(14,681)
(3,964)
(11,459)
(6,503)
Investment income
–
–
(96,927)
(65,065)
Finance costs
113,957 106,628 113,957 106,628
Assets written off
2
1
2
1
Gain on disposal of plant and equipment
(2)
–
(2)
–
Depreciation and amortisation
1,417
1,249
1,417
1,249
Receivables written off
34
21
34
21
Share of results (net of tax) of:
– Associate
(20,094)
(25,721)
–
–
– Joint ventures
(129,125)
(78,478)
–
–
Operating income before working
capital changes
403,521 397,294 403,522 397,346
Changes in working capital:
Trade and other receivables
(2,498)
(1,072)
(2,121)
72
Trade and other payables
1,686
13,141
1,357
11,953
Security deposits
6,517
6,151
6,517
6,151
Income tax paid
(494)
(52)
(494)
(52)
Cash flows from operating activities
408,732 415,462 408,781 415,470
Cash flows from investing activities
Interest received
4,963
4,164
4,963
4,159
Interest received from a joint venture
2,198
–
2,198
–
Dividend received from subsidiary
–
–
–
3,538
Distributions received from:
– Associate
11,436
7,595
11,436
7,595
– Joint ventures
85,114
52,787
85,114
52,787
Capital expenditure on investment properties
(64,679)
(99,267)
(64,679)
(99,267)
Purchase of plant and equipment
(697)
(1,084)
(697)
(1,084)
Proceeds from disposal of plant and
equipment
3
1
3
1
Loan to joint ventures
(13,775)
(31,090)
(13,775)
(31,090)
Repayment of loan from a joint venture
26,075
–
26,075
–
Cash flows from/(used in) investing
activities
50,638 (66,894)
50,638 (63,361)
Balance carried forward
459,370 348,568 459,419 352,109
The accompanying notes form an integral part of these financial statements.
Statements of Cash Flows
Year ended 31 December 2014
Leading with Confidence | 145
