FY 2011 Annual Report - Sheng Siong
FY 2011 Annual Report - Sheng Siong
FY 2011 Annual Report - Sheng Siong
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44 <strong>Sheng</strong> <strong>Siong</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2011</strong><br />
Consolidated Statement of Cash Flows<br />
Year ended 31 December <strong>2011</strong><br />
Note <strong>2011</strong> 2010<br />
$’000 $’000<br />
Operating activities<br />
Profit for the year<br />
Adjustments for:<br />
27,256 42,635<br />
Depreciation of property, plant and equipment 6,155 4,249<br />
Loss on disposal of property, plant and equipment 25 104<br />
Gain on disposal of other investment – (9,413)<br />
Gain on deemed disposal of other investment – (153)<br />
Unrealised exchange gain (49) (10)<br />
Dividend income – (287)<br />
Interest income (19) (25)<br />
Interest expense 82 –<br />
Income tax expense 6,954 6,095<br />
40,404 43,195<br />
Changes in working capital:<br />
Inventories (10,022) (1,497)<br />
Trade and other receivables (2,350) 1,067<br />
Trade and other payables 5,241 (1,409)<br />
Cash generated from operations 33,273 41,356<br />
Income taxes paid (5,154) (7,327)<br />
Cash flows from operating activities 28,119 34,029<br />
Investing activities<br />
Proceeds from disposal of property, plant and equipment 90 71<br />
Proceeds from disposal of other investment – 35,722<br />
Purchase of property, plant and equipment (23,621) (38,391)<br />
Purchase of other investment – (5,004)<br />
Dividend received – 287<br />
Interest received 19 25<br />
Payment of amounts owing to shareholders of entities<br />
under common control 2 (20,000) –<br />
Cash flows from investing activities (43,512) (7,290)<br />
The accompanying notes form an integral part of these financial statements.
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