Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

Statements of Cash Flows
For the fi nancial year ended 31 December 2011
Group Note 2011 2010
RM’000 RM’000
Operating activities
Profi t before tax 178,715 118,796
Adjustments for:
Amortisation of intangible assets 8 1,111 3,242
Amortisation of prepaid land lease payments 8 726 380
Amortisation of transaction costs 7 265 265
Allowance for obsolete inventories 8 216 -
Bad debts written off 8 243 -
Depreciation of property, plant and equipment 8 32,960 28,127
Gain on acquisition on subsidiaries 6 (11,424 ) -
Gain on disposal of property, plant and equipment 6 (398 ) (116 )
Gain on disposal of subsidiaries 6 - (2,561 )
Gain on redemption of redeemable preference shares 6 (722 ) (593 )
Grant of equity-settled share options to employees 9 6,390 4,243
Gross dividend income 4 (11,846 ) (390 )
Impairment loss on trade and other receivables 8 4,018 5,865
Impairment loss on investment in associate 8 722 -
Intangible assets written off 8 - 8,102
Interest expense 7 19,334 30,286
Interest income 4,5 (12,464) (18,846 )
Loss on disposal of an associate 8 - 353
Loss on disposal of investment in a jointly controlled entity 8 255 -
Loss on disposal of property, plant and equipment 8 7 -
Net realised gain on disposal of investment securities 6 (230 ) (118 )
Net fair value changes in investment securities 6 (1,552 ) (3,032 )
Project under study written off 8 25,193 -
Property, plant and equipment written off 8 366 493
Reversal of provision for resettlement costs 6 400 -
Share of results of associates (12,250 ) (6,233 )
Share of results of jointly controlled entities (1,248 ) 1,778
Unrealised foreign exchange (gain)/loss 8 (254 ) 123
Write down of inventories 8 - 1,243
Total adjustments 39,818 52,611
Operating cash fl ows before changes in working capital 218,533 171,407
Changes in working capital
(Increase)/decrease in property development costs (4,678 ) 39,084
Increase in land held for development (385 ) (22,669 )
Increase in inventories (3,822 ) (1,230 )
Decrease/(increase) in other current assets 12,094 (5,423 )
Decrease/(increase) in receivables 58,829 (1,458 )
(Decrease)/increase in payables (4,616 ) 13,374
Decrease in other current liabilities (4,196 ) (54,370 )
Total changes in working capital 53,226 (32,692 )
Cash fl ows from operations 271,759 138,715
Interest received 12,464 18,846
Interest paid (19,878 ) (31,909 )
Income taxes paid, net of refund (23,981 ) (34,017 )
Net cash fl ows from operating activities 240,364 91,635
Annual Report 2011 79