Consolidated Cash Flow StatemenT
For the financial year ended 31 December 2014
2014
2013
(Restated)
S$’000
S$’000
Cash flows from operating activities
Profit before taxation
87,439
29,351
Adjustments for:
Depreciation of property, plant and equipment
1,487
1,299
Dividend income from investment securities
(Fair value through profit or loss and available-for-sale)
(101)
(74)
Gain on disposal of property, plant and equipment
(75)
(109)
Fair value loss on investment properties (net) (Note 10)
4,300
2,780
Fair value loss on investment securities
(Fair value through profit or loss)
279
73
Interest income
(2,198)
(1,969)
Share of results of joint ventures
(43)
1,761
Operating cash flows before changes in working capital
91,088
33,112
(Increase)/decrease in:
Contract work-in-progress
(348)
944
Trade receivables
(26,964)
(1,696)
Development properties
84,354
(42,730)
Other receivables
349
181
Prepayments and deposits
(7,417)
(1,423)
Increase/(decrease) in:
Trade and other payables and provisions
44,915
(6,501)
Progress billings in excess of work-in-progress
(24,872)
55,551
Progress billings to customers for development projects
(54,600)
(4,971)
Advance payment received for construction project
8,318
–
Cash flows generated from operations
114,823
32,467
Interest received – loans and receivables
1,252
1,063
Income tax paid
(5,345)
(4,541)
Net cash flows generated from operating activities
110,730
28,989
(Amounts in Singapore dollars)
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Hock Lian Seng Holdings Limited
Annual report 2014
41
