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STATEMENTS OF CASH FLOWS
REPORTS
HBT Group
H-REIT Group
Stapled Group
Note 2016 2015 2016 2015 2016 2015
$’000 $’000
Restated
$’000 $’000 $’000 $’000
Restated
Cash flows from operating activities
Net income/(loss) before tax
1,579 (9,408)
48,767 57,555 50,346 51,565
Adjustments for:
H-REIT Manager’s and HBT Trustee-
Manager’s fees paid/payable in Stapled
Securities
350
–
9,931 10,210 10,281 10,210
Depreciation of property, plant and
equipment
3,769 1,049 1,774 1,511 8,586 5,479
Amortisation of prepaid land lease
–
–
–
–
272
253
Impairment loss on:
- trade receivables
223
42
153
470
376
512
- property, plant and equipment
–
–
–
–
7,330 1,557
- prepaid land lease
–
–
–
–
750
166
- goodwill
26
–
7,775
–
–
–
7,775
Property, plant and equipment
written off
–
142
–
–
–
142
Net fair value loss on investment
properties
–
– 33,018 38,534 21,623 30,221
Transaction costs for acquisition of a
subsidiary
–
2,442
–
–
–
2,442
Net finance costs
2,650
572 30,266 21,073 32,916 21,654
Operating income before
working capital changes
8,571 2,614 123,909 129,353 132,480 131,976
Changes in working capital:
Inventories
246
245
–
–
246
245
Trade and other receivables
151 (1,924)
(2,012)
1,945 (6,357)
2,887
Trade and other payables
(242)
(404)
3,617
375 7,871 (2,905)
Cash generated from operating
activities
8,726
531 125,514 131,673 134,240 132,203
Tax paid
(235)
(154)
(534)
(850)
(769)
(1,004)
Net cash generated from operating
activities
8,491
377 124,980 130,823 133,471 131,199
Cash flows from investing activities
Additions to property, plant and
equipment and prepaid land lease
(2,174)
(512)
(823)
(335)
(3,994)
(2,304)
Capital expenditure on investment
properties
–
– (15,201)
(16,924)
(14,204)
(15,466)
Net cash outflow from acquisition of a
subsidiary
26
– (133,564)
–
–
– (133,564)
Interest received
–
–
1,417
318
148
318
Net cash used in investing activities
(2,174) (134,076)
(14,607)
(16,941)
(18,050) (151,016)
Year ended 31 December 2016
The accompanying notes form an integral part of these financial statements.
130