113
Consolidated Statement of Cash Flows
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2022
Note | 2022 | 2021 | ||
$'000 | $'000 | |||
Cash flows from operating activities | 55,235 | |||
Profit before income tax | 204,295 | |||
Adjustments for: | (13,908) | |||
- Share of profit of associates and joint ventures | (12,601) | |||
- Unrealised construction and project management margins | 3,594 | 2,386 | ||
- | Depreciation expense | 10,881 | 15,480 | |
- | Amortisation expense | 677 | 1,198 | |
- Impairment loss on intangible assets | 721 | - | ||
- Impairment loss of property, plant and equipment | 962 | - | ||
- Loss/(Gain) on disposal of property, plant and equipment | 3,018 | (65) | ||
- Employee (including directors) share-based compensation expense | 1,137 | 33 | ||
- Gain on disposal of right-of-use assets | (57) | - | ||
- Fair value gains on financial assets, at FVPL | (3,343) | (363) | ||
- Gain on disposal of a subsidiary | - | (4,037) | ||
- Gain on disposal/partial disposal of properties, a subsidiary and joint ventures | - | (132,499) | ||
- | Finance expenses | 1,952 | 3,835 | |
- | Interest income | (8,112) | (4,765) | |
- Unrealised currency exchange (gains)/losses | (50) | 174 | ||
Change in working capital: | 52,707 | 73,071 | ||
(3,337) | ||||
- Trade receivables, other receivables and prepayments | (8,284) | |||
- Inventories and contracts assets/liabilities | 66,604 | (20,076) | ||
- Properties held for sale | - | (243) | ||
- Trade and other payables | (46,060) | 40,769 | ||
- | Derivative financial instruments | 1,870 | (1,224) | |
- | Restricted bank deposit | 13 | 3,500 | (3,500) |
Cash generated from operations | 75,284 | 80,513 | ||
Interest received | 2,332 | 4,046 | ||
Income tax paid | (22,653) | (22,092) | ||
Net cash provided by operating activities | 54,963 | 62,467 |
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The accompanying notes form an integral part of these financial statements.
114 | Boustead Singapore Limited | |||
Annual Report 2022 | ||||
Consolidated Statement of Cash Flows | ||||
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2022 | ||||
Note | 2022 | 2021 | ||
$'000 | $'000 | |||
Cash flows from investing activities | 3,038 | |||
Proceeds from disposal of investment securities | 15,117 | |||
Proceeds from disposal of property, plant and equipment | 3,167 | 177 | ||
Proceeds from disposal of properties | - | 240,800 | ||
Proceeds from disposal of a subsidiary and joint ventures | 519 | 25,813 | ||
Repayment of loans by joint ventures | 15,000 | 79,334 | ||
Repayment of loan by an associate | 1,555 | 4,957 | ||
Repayment of loan by a related party | 6,431 | - | ||
Dividends received from associates and joint ventures | 15,182 | 8,362 | ||
Interest received on notes issued by an associate | 3,524 | - | ||
Interest received on notes issued by non-related party | 78 | 97 | ||
Interest received on loan by a related party | 1,585 | - | ||
Purchase of investment securities | (65,780) | (3,266) | ||
Purchase of property, plant and equipment | (3,597) | (3,052) | ||
Additions to investment properties | (5,818) | (8,464) | ||
Additions to intangible assets | (155) | (681) | ||
Disposal of subsidiaries, net of cash disposed of | - | (432) | ||
Capital contributions to joint ventures | (1,906) | (10,720) | ||
Notes issued by an associate | (13,750) | (59,000) | ||
Loan to associates | - | (3,188) | ||
Investment in associates | (3,774) | (14,251) | ||
Deposits paid for investment | (12,297) | (4,615) | ||
Net cash (used in)/provided by investing activities | (56,998) | 266,988 | ||
Cash flows from financing activities | 14,235 | |||
Proceeds from borrowings | 9,848 | |||
Capital contributions from a non-controlling interest | - | 225 | ||
Proceeds from treasury shares re-issued by a subsidiary | 1,933 | - | ||
Purchase of treasury shares | (1,739) | (2,457) | ||
Purchase of treasury shares by a subsidiary | (316) | (292) | ||
Repayment of borrowings | (5,216) | (121,847) | ||
Interest payment of borrowings | (225) | (1,017) | ||
Principal payment of lease liabilities | (5,996) | (6,898) | ||
Interest payment of lease liabilities | (1,727) | (2,818) | ||
Payments to non-controlling shareholders for the purchase of shares in subsidiaries | (5,257) | - | ||
Dividends paid to non-controlling interests | (23,293) | (2,025) | ||
Dividends paid to equity holders of the Company | (41,128) | (14,598) | ||
Net cash used in financing activities | (68,729) | (141,879) | ||
Net (decrease)/increase in cash and cash equivalents | (70,764) | 187,576 | ||
Cash and cash equivalents | 476,291 | |||
Beginning of financial year | 281,706 | |||
Effects of currency translation on cash and cash equivalents | (1,666) | 7,009 | ||
End of financial year | 13 | 403,861 | 476,291 |
The accompanying notes form an integral part of these financial statements.