113
Consolidated Statement of Cash Flows
AS AT 31 MARCH 2021
Note | 2021 | 2020 | ||
$'000 | $'000 | |||
Cash flows from operating activities | 204,295 | |||
Profit before income tax | 63,040 | |||
Adjustments for: | (12,601) | |||
- Share of (profit)/loss of associates and joint ventures | 1,599 | |||
- Unrealised construction and project management margins | 2,386 | 8,311 | ||
- | Depreciation expense | 15,480 | 16,218 | |
- | Amortisation expense | 1,198 | 625 | |
- (Gain)/Loss on disposal of property, plant and equipment | (65) | 44 | ||
- Employee share-based compensation expense | 33 | 189 | ||
- Gain on disposal of investment securities | - | (151) | ||
- Fair value (gains)/losses on financial assets, at FVPL | (363) | 1,076 | ||
- Gain on disposal of a subsidiary | (4,037) | - | ||
- Gain on disposal/partial disposal of properties, a subsidiary and joint ventures | (132,499) | - | ||
- | Finance expenses | 3,835 | 5,213 | |
- | Interest income | (4,765) | (6,473) | |
- Unrealised currency exchange losses | 174 | 80 | ||
Change in working capital, net of effects from disposal of subsidiaries: | 73,071 | 89,771 | ||
(8,187) | ||||
- Trade receivables, other receivables and prepayments | (25,433) | |||
- Inventories and contracts assets/liabilities | (20,076) | 43,786 | ||
- Properties held for sale | (243) | (47) | ||
- Trade and other payables | 40,769 | 53,754 | ||
- | Derivative financial instruments | (1,224) | 48 | |
- | Restricted bank deposit | 13 | (3,500) | - |
Cash provided by operations | 80,610 | 161,879 | ||
Interest received | 4,046 | 5,176 | ||
Interest paid | (1,017) | (2,326) | ||
Income tax paid | (22,092) | (17,584) | ||
Net cash generated from operating activities | 61,547 | 147,145 | ||
Cash flows from investing activities | 15,117 | |||
Proceeds from disposal of investment securities | 13,146 | |||
Proceeds from disposal of property, plant and equipment | 177 | 328 | ||
Proceeds from disposal of properties | 240,800 | - | ||
Proceeds from disposal of a subsidiary and joint ventures | 25,813 | 7,440 | ||
Repayment of loans by joint ventures | 79,334 | - | ||
Repayment of loan by an associate | 4,957 | 4,459 | ||
Dividends received from joint ventures | 8,362 | 3,840 | ||
Purchase of investment securities | (3,266) | (3,451) | ||
Purchase of property, plant and equipment | (3,052) | (11,253) | ||
Additions to investment properties | (8,464) | (11,531) | ||
Additions to intangible assets | (681) | (403) | ||
Disposal of subsidiary, net of cash disposed of | (432) | - | ||
Capital contributions to joint ventures | (10,720) | (26,266) | ||
Loan to a joint venture | - | (58,000) | ||
Notes issued by/loan to an associate | (59,000) | (1,666) | ||
Loan to associates | (3,188) | (4,785) | ||
Investment in associates | (14,251) | (87) | ||
Deposits paid for investment | (4,615) | - | ||
Net cash provided by/(used in) investing activities | 266,891 | (88,229) |
Overview
Review Strategic
Statements Financial
The accompanying notes form an integral part of these financial statements.
114 | Boustead Singapore Limited |
Annual Report 2021 |
Consolidated Statement of Cash Flows
AS AT 31 MARCH 2021
Note | 2021 | 2020 | ||||||||
$'000 | $'000 | |||||||||
Cash flows from financing activities | 9,848 | |||||||||
Proceeds from borrowings | 59,949 | |||||||||
Capital contributions from a non-controlling interest | 225 | - | ||||||||
Purchase of treasury shares | (2,457) | (7,821) | ||||||||
Purchase of treasury shares by a subsidiary | (292) | - | ||||||||
Repayment of borrowings | (121,847) | (44,397) | ||||||||
Principal payment of lease liabilities | (6,898) | (5,730) | ||||||||
Interest payment of lease liabilities | (2,818) | (2,887) | ||||||||
Payment to non-controlling shareholder for the purchase of shares in a subsidiary | - | (6,243) | ||||||||
Dividends paid to non-controlling interests | (2,025) | (2,936) | ||||||||
Dividends paid to equity holders of the Company | (14,598) | (10,987) | ||||||||
Net cash used in financing activities | (140,862) | (21,052) | ||||||||
Net increase in cash and cash equivalents | 187,576 | 37,864 | ||||||||
Cash and cash equivalents | 281,706 | |||||||||
Beginning of financial year | 246,861 | |||||||||
Effects of currency translation on cash and cash equivalents | 7,009 | (3,019) | ||||||||
End of financial year | 13 | 476,291 | 281,706 | |||||||
Reconciliation of liabilities arising from financing activities | ||||||||||
Non-cash changes | ||||||||||
Principal | Adoption | Disposal | Remeasurement/ | Addition | Foreign | |||||
and | of properties | Interest | during the | |||||||
1 April | Proceeds | interest | of | and | Modification of | financial | exchange | 31 March | ||
payments | SFRS(I) 16 | subsidiaries | lease liability | expense | year | movement | ||||
$'000 | $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | |
Borrowings | ||||||||||
2021 | 118,993 | 9,848 | (122,864) | - | - | - | 1,017 | - | (26) | 6,968 |
2020 | 147,597 | 59,949 | (46,723) | - | (44,207) | - | 2,326 | - | 51 | 118,993 |
Lease liabilities | ||||||||||
2021 | 96,049 | - | (9,716) | - | (33,710) | (45) | 2,818 | 2,208 | 171 | 57,775 |
2020 | - | - | (8,617) | 92,683 | - | - | 2,887 | 9,173 | (77) | 96,049 |
The accompanying notes form an integral part of these financial statements.