Page 133 - ar2012

CONSOLIDATED STATEMENT OF CASH FLOWS

Year ended 31 March 2012

Group

Note

2012

2011

$’000

Operating activities

Net income

274,528

233,665

Adjustments for:

Depreciation of plant and equipment

7

1,125

1,272

Allowance for impairment loss on doubtful receivables, net

11

6

Finance income

25

(5,437)

(3,295)

Finance costs

25

64,202

77,655

Management fees paid/payable in units

5,828

4,945

Foreign exchange loss/(gain)

932

(2,352)

Operating income before working capital changes

341,184

311,896

Changes in working capital:

Trade and other receivables

(6,805)

(3,530)

Trade and other payables

(5,423)

(7,811)

328,956

300,555

Income tax paid

(137)

-

Cash fows from operating activities

328,819

300,555

Investing activities

Purchase of investment properties

A

(474,187)

(239,227)

Payment for investment properties and other assets under development

(196,526)

(91,007)

Purchase of plant and equipment

(63)

(171)

Payment for capital improvement projects

(37,496)

(9,042)

Payment for deferred settlements

(7,200)

(7,340)

Deposits paid for tender, development and acquisition

-

(26,151)

Acquisition of subsidiary, net of cash acquired

B

(36,916)

-

Investment in debt securities

(103,250)

-

Interest received

5,158

2,855

Cash fows used in investing activities

(850,480)

(370,083)

Financing activities

Equity issue costs paid

(6,177)

-

Proceeds from issue of units

400,001

-

Distributions paid to Unitholders

(270,092)

(237,685)

Finance costs paid

(65,461)

(69,298)

Proceeds from borrowings

1,732,800

1,002,568

Repayment of borrowings

(1,253,500)

(624,200)

Transaction costs paid in respect of borrowings

(4,148)

(2,456)

Cash fows from fnancing activities

533,423

68,929

Net increase/(decrease) in cash and cash equivalents

11,762

(599)

Cash and cash equivalents at beginning of fnancial year

8,067

8,666

Effect of exchange rate changes on cash balances

(240)

-

Cash and cash equivalents at end of fnancial year

19,589

8,067

The accompanying notes form an integral part of these fnancial statements.

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A DECADE OF ENABLING BUSINESSES