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ANNUAL REPORT 2013
59
The Group
Note
2013
$’000
2012
$’000
Cash fows from operating activities:
Proft before tax
115,277
127,326
Adjustments for:
Investment income
4
(56,663)
(49,854)
Fair value gains on investment properties
10
(10,664)
(23,492)
Share of results and dilution adjustments of associated companies
12
(8,039)
(19,308)
Depreciation of property, plant and equipment
9
5,378
4,556
Interest income
4
(868)
(1,079)
Finance expenses
267
245
Write-back of unclaimed dividends
(246)
(214)
Expensing of share options
25
241
173
Impairment in value of available-for-sale fnancial assets
200
–
Loss on disposal and write-off of property, plant and equipment
5
73
99
Inventories written down
15
54
66
Allowance for impairment of receivables
5
39
354
Loss on disposal of available-for-sale fnancial assets (net)
–
1,885
Currency translation (gains)/losses
(89)
1,583
Operating proft before working capital changes
44,960
42,340
Decrease/(increase) in inventories
335
(1,787)
Decrease in trade and other receivables
1
1,054
(Decrease)/increase in trade and other payables
(991)
5,033
Cash generated from operations
44,305
46,640
Investment income received
56,663
49,854
Interest income received
827
1,105
Net taxation paid
(7,184)
(8,339)
Net cash provided by operating activities
94,611
89,260
Cash fows from investing activities
Dividends from associated companies
5,775
2,505
Purchase of property, plant and equipment
9
(2,576)
(5,663)
Improvements to investment properties
10
(978)
(2,446)
Proceeds from disposal of property, plant and equipment
2
8
Proceeds from disposal of available-for-sale fnancial assets
–
19,806
Purchase of available-for-sale fnancial assets
13
–
(11,867)
Purchase of additional stake in an associated company
12
–
(1,311)
Net cash provided by investing activities
2,223
1,032
Cash fows from fnancing activities
Payment of dividends to shareholders of the Company
7
(40,949)
(39,607)
Proceeds from issue of share capital
21
3,734
987
Interest expense paid
(273)
(253)
Bank deposits pledged
(6)
(110)
Proceeds from borrowings
–
11,868
Net cash used in fnancing activities
(37,494)
(27,115)
Net increase in cash and cash equivalents
59,340
63,177
Cash and cash equivalents at beginning of the fnancial year
17
149,460
87,430
Effects of currency translation on cash and cash equivalents
(194)
(1,147)
Cash and cash equivalents at end of the fnancial year
17
208,606
149,460
The accompanying notes form an integral part of these fnancial statements.
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2013
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