111
ANNUAL REPORT 2014
Year ended 31 December 2014
HBT Group
H-REIT Group
Stapled Group
Note 2014
2013
2014
2013
2014
2013
$’000
$’000
$’000
$’000
$’000
$’000
Balance carried forward
3,461
225
43,370
(49,962)
46,831
(49,737)
Cash flows from financing activities
Distribution to holders of
Stapled Securities
–
– (105,639)
(107,136)
(105,639)
(107,136)
Finance expense paid
–
–
(16,644)
(16,353)
(16,644)
(16,353)
Payment of transaction costs
related to borrowings
–
–
(892)
(776)
(892)
(776)
Proceeds from bank loans
–
–
230,959
458,334
230,959 458,334
Proceeds from issuance of
notes
–
–
–
120,000
–
120,000
Repayment of bank loans
–
–
(76,896)
(150,978)
(76,896)
(150,978)
Repayment of notes
–
–
(70,000)
(260,000)
(70,000)
(260,000)
Net cash (used in)/from
financing activities
–
–
(39,112)
43,091
(39,112)
43,091
Net increase/(decrease) in
cash and cash equivalents
3,461
225
4,258
(6,871)
7,719
(6,646)
Cash and cash equivalents at
beginning of the year
605
380
68,123
74,994
68,728
75,374
Cash and cash equivalents at
end of the year (Note 10)
4,066
605
72,381
68,123
76,447
68,728
Significant Non-Cash Transactions
H-REIT Group and Stapled Group
A total of 6,462,785 (2013: 5,726,864) Stapled Securities amounting to $10,917,000 (2013: $9,924,000) were issued or
will be issued to the H-REIT Manager at various unit prices as satisfaction of asset management fees payable in units in
respect of the year ended 31 December 2014 and acquisition fee in relation to the Japan Hotels.
STATEMENTS OF CASH FLOWS
The accompanying notes form an integral part of these financial statements.
