110
CDL
HOSPITALITY TRUSTS
HBT Group
H-REIT Group
Stapled Group
Note 2014
2013
2014
2013
2014
2013
$’000
$’000
$’000
$’000
$’000
$’000
Cash flows from operating activities
Net income/ (loss)
213
(31)
126,832
142,988
123,881 142,957
Adjustments for:
Depreciation and amortisation
–
–
–
–
2,825
–
Impairment loss on property,
plant and equipment
–
–
–
–
34
–
H-REIT Manager’s management
fees paid/payable in
Stapled Securities
–
–
10,278
9,924
10,278
9,924
Net finance expense
1
–
16,439
16,638
16,440
16,638
Net surplus on revaluation of
investment properties
–
–
(17,978)
(36,556)
(17,639)
(36,556)
Operating income/(loss) before
working capital changes
214
(31)
135,571
132,994
135,819 132,963
Changes in working capital:
Trade and other receivables
(3,323)
–
(4,393)
1,010
(6,742)
1,264
Trade and other payables
7,930
256
5,012
(3,177)
11,934
(3,175)
Inventories
(1,366)
–
–
–
(1,366)
–
Cash generated from
operating activities
3,455
225
136,190
130,827
139,645 131,052
Tax paid
–
–
(204)
(26)
(204)
(26)
Net cash generated from
operating activities
3,455
225
135,986
130,801
139,441 131,026
Cash flows from investing activities
Acquisition of property,
plant and equipment and
prepaid land lease
–
–
(65,528)
–
(311)
(77,077)
Acquisition of
investment properties
–
–
– (167,128)
–
(90,051)
Capital expenditure on
investment properties
–
–
(27,430)
(14,090)
(27,430)
(14,090)
Net cash flow from
acquisition of business
26
6
–
–
–
(65,211)
–
Interest received
–
–
342
455
342
455
Net cash (used in)/from
investing activities
6
–
(92,616)
(180,763)
(92,610)
(180,763)
Balance carried forward
3,461
225
43,370
(49,962)
46,831
(49,737)
STATEMENTS OF CASH FLOWS
Year ended 31 December 2014
The accompanying notes form an integral part of these financial statements.
