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

Overview

Review Strategic

Statements Financial

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.

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Boustead Singapore Ltd. published this content on 05 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 July 2022 02:22:07 UTC.