Group
2015
2014
$’000
$’000
Cash flows from operating activities
Profit before tax
21,641
21,354
Adjustments for:
Amortisation of intangible asset
91
91
Amortisation of land use right
60
–
Bad trade debts written off
363
68
Depreciation of property, plant and equipment
3,146
2,563
Gain on deemed disposal of interest in an associate
(572)
–
Gain on disposal of interest in an associate
(2,017)
–
Gain on fair value adjustment of available-for-sale financial asset
(3,930)
–
Impairment loss on held-to-maturity investment
28
–
Loss on disposal of interest in a subsidiary
–
17
Net gain on disposal of property, plant and equipment
(35)
(93)
Net impairment loss on doubtful trade receivables
187
369
Performance share scheme expense
846
1,160
Property, plant and equipment written off
29
22
Interest income
(389)
(441)
Interest expense
630
241
Share of results of associates
698
(1,021)
Currency realignment
665
330
Operating cash flows before changes in working capital
21,441
24,660
(Increase)/decrease in:
Inventories
(554)
22
Gross amount due from customers for contract work-in-progress
(4,128)
2,754
Trade and other receivables
(11,169)
4,786
Other assets
295
(143)
Increase/(decrease) in:
Gross amount due to customers for contract work-in-progress
(2,459)
802
Trade and other payables
10,828
(3,107)
Other liabilities
2,230
(1,944)
Net cash flows from operations
16,484
27,830
Interest received
389
441
Interest paid
(630)
(241)
Income taxes paid
(3,361)
(3,192)
Net cash flows from operating activities
12,882
24,838
Cash flows from investing activities
Purchase of property, plant and equipment (Note 14)
(17,803)
(2,425)
Proceeds from disposal of property, plant and equipment
59
107
Acquisition of land use right
(7,284)
–
Net cash inflow from re-measurement of ownership interest in a subsidiary (Note 16)
–
1,805
Net cash outflow on disposal of interest in a subsidiary (Note 16)
–
(19)
Acquisition of non-controlling interest of subsidiaries (Note 16)
(1,517)
–
Capital contribution by non-controlling interest of a subsidiary
–
– *
Acquisition of an associate
–
(40)
Acquisition of additional interest in associates
(434)
–
Net proceeds from disposal of interest in an associate (Note 17)
2,224
–
Dividend income from associates
847
496
Net cash flows used in investing activities
(23,908)
(76)
consolidated statement of
cash flows
Year ended 31 December 2015
• e x p e r i e n c i n g
k i n g s m e n
4 8
