Macquarie International Infrastructure Fund Limited SGX Quarterly ...

Unaudited Financial Report=For the quarter ended 30 September 2007Statement of Cash FlowsGroupQuarter ended30 Sep 07$’000GroupYear to date30 Sep 07$’000GroupQuarter ended30 Sep 06$’000GroupYear to date30 Sep 06$’000Cash flows from operating activitiesProfit after tax 64,756 260,306 71,595 116,085Adjustments for non cash items:Amortisation and depreciation 6,791 18,985 5,266 12,520Unrealised foreign exchange gains/(losses) 6,584 7,813 (368) (1,482)Revaluation of financial assets at fair value through profit or46,254 (109,937) (61,660) (65,890)lossEffect of exchange rate movements on operating assets(3,669) 6,411 3,677 2,211and liabilitiesChanges in operating assets and liabilities, net of the effectsfrom acquisitions of controlled entities and business assets:(Increase)/decrease in trade and other receivables 34,053 13,046 (13,120) 2,448(Increase)/decrease in inventory (25) 32 (32) (22)Increase/(decrease) in trade and other payables (4,735) 816 26,650 16,742Increase/(decrease) in provisions for other liabilities and537 (4,862) 3,117 1,516charges(Increase)/decrease in other assets 132 (553) 26 (9)(Increase)/decrease in the provision for taxation 351 10,496 (32) 34Net cash inflow from operating activities 151,029 202,553 35,119 84,153Cash flows from investing activitiesProceeds from sale of investment 269,792 359,552 - -Purchase of property, plant and equipment (3,498) (5,034) (64,847) (66,046)Purchase of financial assets (282,129) (567,669) (747) (38,471)Net cash outflow from investing activities (15,835) (213,151) (65,594) (104,517)Cash flows from financing activitiesProceeds from issue of ordinary shares 3,146 3,146 - -Capital raising costs (92) (92) - -Proceeds from borrowings 418,889 706,143 64,833 102,557Repayment of borrowings (485,720) (578,170) 3,421 -Dividends paid (53,107) (104,294) (50,548) (90,218)Net cash inflow/(outflow) from financing activities (116,884) 26,733 17,706 12,339Net increase/(decrease) in cash and cash equivalents 18,310 16,135 (12,769) (8,025)Cash and cash equivalents at beginning of period 57,321 59,146 57,712 51,942Effects of exchange rate changes on cash and cash(2,884) (2,534) 200 1,226equivalentsCash and cash equivalents at end of period 72,747 72,747 45,143 45,143Macquarie International Infrastructure Fund Limited Page 20