FY2025 Group Statement of Cash Flows

Consolidated Statement of Cash Flows

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Note

2025

$'000

2024

$'000

Cash flows from operating activities

Profit before income tax

123,324

100,445

Adjustments for:

- Share of loss of associates and joint ventures

19,196

11,574

- Elimination of share of unrealised construction, project management

and acquisition fee margins

1,560

1,000

- Depreciation expenses

8,687

8,374

- Amortisation expenses

159

2,779

- Impairment of investment in an associate

3,066

-

- Gain on disposal of property and fund management service businesses

40(A)

(28,998)

-

- Loss/(Gain) on disposal of property, plant and equipment

110

(2)

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

(57)

80

- Fair value (gains)/losses on financial assets, at FVPL

(1,834)

508

- Loss/(Gain) on disposal of subsidiaries

40(B)

14

(2,912)

- 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

2,330

1,649

- Dividend income

(374)

(460)

- Interest income

(20,140)

(18,615)

- Unrealised currency exchange losses/(gains)

176

(40)

107,219

103,214

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

- Trade receivables, other receivables and prepayments

35,821

41,170

- Inventories and contracts assets/liabilities

(17,968)

(82,369)

- Trade and other payables

(30,644)

48,900

- Derivative financial instruments

393

461

- Restricted bank deposits

(1,442)

(211)

Cash provided by operations

93,379

111,165

Interest received

13,169

10,980

Income tax paid

(27,894)

(25,554)

Net cash provided by operating activities

78,654

96,591

Consolidated Statement of Cash Flows

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Note

2025

$'000

2024

$'000

Cash flows from investing activities

Proceeds from disposal of investment securities, at FVPL

2,535

1,046

Proceeds from disposal of property, plant and equipment

299

235

Disposal of subsidiaries, net of cash disposed of

40(B)

-

5,623

Proceeds from partial disposal of a joint venture

40(D)

-

11,774

Proceeds from disposal of a subsidiary in the previous financial year

40(B)

1,436

32,462

Capital repayment by joint ventures

331

3,447

Repayment of loan by a joint venture

6,520

3,987

Repayment of loan by an associate

2,220

-

Dividends received from associates and joint ventures

14,059

12,840

Dividends received from investment securities

-

460

Interest received on notes issued by an associate

5,985

5,754

Interest received on loans to a joint venture

326

-

Interest received on loan to a non-related party

41

34

Proceeds from repayment of loan by a non-related party

1,850

-

Loan to a joint venture

(12,055)

(3,635)

Loan to a non-related party

-

(1,880)

Purchase of investment securities, at FVPL

(5,670)

(270)

Purchase of property, plant and equipment

(8,907)

(5,073)

Additions to investment properties

(41)

(33,803)

Capital contributions to joint ventures

(14,095)

(76,199)

Investment in an associate

40(A)

(5,666)

(950)

Net cash used in investing activities

(10,832)

(44,148)

Cash flows from financing activities

Proceeds from borrowings

60,479

43,798

Repayment of borrowings

(55,902)

(4,354)

Interest payment of borrowings

(1,022)

(884)

Principal payment of lease liabilities

(5,173)

(4,262)

Interest payment of lease liabilities

(1,287)

(1,577)

Payments to non-controlling shareholders for the purchase of shares

in a subsidiary

(77,893)

(14,884)

Dividends paid to non-controlling interests

(12,809)

(3,339)

Dividends paid to equity holders of the Company

(13,741)

(19,099)

Net cash used in financing activities

(107,348)

(4,601)

Net (decrease)/increase in cash and cash equivalents

(39,526)

47,842

Cash and cash equivalents

Beginning of financial year

370,447

324,479

Effects of currency translation on cash and cash equivalents

71

(1,874)

End of financial year

13

330,992

370,447

Principal

Non-cash changes

1 April

Proceeds

and interest payments

Addition during the financial year

Interest capitalised

Interest expense

Disposal

Foreign exchange movement

31 March

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

Borrowings

2025

3,353

60,479

(56,924)

-

-

1,022

-

-

7,930

2024

5,656

43,798

(5,238)

-

650

234

(41,745)

(2)

3,353

Lease liabilities

2025

35,220

-

(6,460)

3,045

-

1,287

(616)

(90)

32,386

2024

44,976

-

(5,839)

2,225

162

1,415

(7,601)

(118)

35,220