SEO Version
SEE HUP SENG LIMITED
Annual Report 2012
38
Consolidated Statement of Cash Flows
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2012
Note
2012
2011
S$’000
S$’000
Cash Flows from Operating Activities
Profit before income tax
6,723
9,855
Adjustments for:
Amortisation of intangible asset
5
–
Depreciation of property, plant and equipment
3,323
2,829
Bad debts written-off
52
12
Inventory written-off
144
127
Property, plant and equipment written-off
370
9
Gain on disposal of property, plant and equipment
(131)
(1,025)
Share of loss of associated company
20
–
Impairment of goodwill
454
–
Write off negative goodwill
(18)
–
Loss on available-for-sale assets
15
–
Allowance for impairment of trade receivables
327
181
Dividend income
–
(69)
Interest expense
1,214
1,125
Interest income
(434)
(47)
Allowance for stock obsolescence
555
74
Reversal of stock obsolescence provision
(38)
(169)
Reversal of impairment of trade receivables
(130)
(45)
Unrealised foreign exchange differences
(1,278)
1,507
Operating cash flows before working capital changes
11,173
14,364
Changes in working capital:
Inventories
(563)
(4,628)
Receivables and prepayments
3,485
(8,448)
Payables
4,975
(242)
Cash generated from operations
19,070
1,046
Interest paid
(1,214)
(1,125)
Dividend received
–
69
Interest received
32
47
Income tax paid
(1,209)
(1,126)
Net cash generated from/(used in) operating activities
16,679
(1,089)
Cash Flows from Investing Activities
Purchase of property, plant and equipment
(2,991)
(3,732)
Purchase of financial asset, available-for-sale
(7,322)
(27)
Proceeds from disposal of property, plant and equipment
277
1,262
Proceeds from disposal of asset held for sale
–
3,609
Acquisition of associated company
(1,500)
–
Loan to associated company
(15,000)
–
Cash flow on acquisition of subsidiaries (net of cash acquired)
9
(3,833)
–
Net cash (used in)/generated from investing activities
(30,369)
1,112
The accompanying notes form an integral part of the financial statements.
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