FY2024 Group Statement of Cash Flows

Note

2024

2023

$'000

$'000

Cash flows from operating activities

100,445

Profit before income tax

76,481

Adjustments for:

11,574

- Share of loss of associates and joint ventures

684

- Elimination of share of unrealised construction, project management

1,000

and acquisition fee margins

221

-

Depreciation expenses

8,374

9,971

- Amortisation of intangible assets

2,779

6

- Reversal of impairment loss of property, plant and equipment

-

(25)

- Write-off of investment property

-

557

- Gain on disposal of property, plant and equipment

(2)

(6)

- Loss/(Gain) on disposal of right-of-use assets

80

(66)

- Fair value losses on financial assets, at FVPL

508

374

-

Gain on disposal of subsidiaries

40(B)

(2,912)

(8,400)

-

Gain on partial disposal of a joint venture

40(D)

(1,621)

-

-

Adjustment to gain on disposal of a subsidiary in prior year

40(B)

455

-

-

Finance expenses

1,649

3,128

-

Dividend income

(460)

(587)

-

Interest income

(18,615)

(13,126)

- Unrealised currency exchange (gains)/losses

(40)

48

Change in working capital, net of effects from disposal of subsidiaries:

103,214

69,260

40,748

- Trade receivables, other receivables and prepayments

(65,603)

- Inventories and contracts assets/liabilities

(82,369)

104,626

- Trade and other payables

48,900

(19,951)

-

Derivative financial instruments

461

(1,431)

Cash provided by operations

110,954

86,901

Interest received

10,980

11,030

Income tax paid

(25,554)

(21,609)

Net cash provided by operating activities

96,380

76,322

Governance, Financial Statements

119

Overview

Business Review

& Other Information

Note

2024

2023

$'000

$'000

Cash flows from investing activities

1,046

Proceeds from disposal of investment securities

2,156

Proceeds from disposal of property, plant and equipment

235

932

Disposal of subsidiaries, net of cash disposed of

40(B)

5,623

(4,312)

Proceeds from partial disposal of a joint venture

40(D)

11,774

-

Proceeds from disposal of a subsidiary in the previous year

40(B)

32,462

-

Acquisition of subsidiaries, net of cash acquired

40(A)

-

340

Loan to a joint venture

(3,635)

(4,155)

Capital repayment by joint ventures

3,447

-

Repayment of loan by a joint venture

3,987

-

Refund of deposits paid for an investment

-

17,125

Dividends received from associates and joint ventures

12,840

14,830

Dividends received from investment securities

460

587

Interest received on notes issued by an associate

5,754

5,093

Interest received on loan to a non-related party

34

57

Proceeds from repayment of loan by a non-related party

-

1,970

Loan to a non-related party

(1,880)

(1,970)

Purchase of investment securities, at FVPL

(270)

(412)

Purchase of property, plant and equipment

(5,073)

(2,908)

Additions to investment properties

(33,803)

(652)

Capital contributions to joint ventures

(76,199)

(59,766)

Subscription of notes issued by an associate

-

(12,500)

Investment in associates

(950)

(2,720)

Net cash used in investing activities

(44,148)

(46,305)

Cash flows from financing activities

43,798

Proceeds from borrowings

2,878

Capital contributions from non-controlling interests

-

655

Purchase of treasury shares

-

(3,965)

Repayment of borrowings

(4,354)

(4,934)

Interest payment of borrowings

(884)

(429)

Principal payment of lease liabilities

(4,262)

(2,313)

Interest payment of lease liabilities

(1,577)

(2,699)

Payments to non-controlling shareholders for the purchase of shares

(14,884)

in a subsidiary

40(C)

(63,847)

Dividends paid to non-controlling interests

(3,339)

(3,062)

Dividends paid to equity holders of the Company

(19,099)

(19,255)

Net cash used in financing activities

(4,601)

(96,971)

Net increase/(decrease) in cash and cash equivalents

47,631

(66,954)

Cash and cash equivalents

326,188

Beginning of financial year

403,861

Effects of currency translation on cash and cash equivalents

(1,874)

(10,719)

End of financial year

13

371,945

326,188

Principal

Non-cash changes

Addition

Remeasurement/

Foreign

and

Interest

Interest

1 April

Proceeds

interest

during the

Modification of

Disposal

exchange

31 March

payments

financial year

lease liability

capitalised

expense

movement

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

Borrowings

2024

5,656

43,798

(5,238)

-

-

650

234

(41,745)

(2)

3,353

2023

15,980

2,878

(5,363)

-

-

-

429

(8,304)

36

5,656

Lease liabilities

2024

44,976

-

(5,839)

-

-

162

1,415

(7,601)

2,107

35,220

2023

52,697

-

(5,012)

15,126

703

59

2,699

(19,704)

(1,592)

44,976