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11
Annual Report 2012
Financial Review /
Net cash used in investing activities in
FY2012 was S$31.3 million, mainly for the
acquisition of Premier Group and for the
additional investments made in shares of
Neptune Marine Services Limited.
Financing obtained from banks amounted
to S$18.6 million during FY2012. Apart from
payment of dividends and repayment of
bank borrowings, the new bank funding was
deployed for the acquisitions made during
the year.
FINANCIAL RESOURCES AND CAPITAL
STRUCTURE
Total bank borrowings and fnance lease
payables increased by 62% to S$45.9 million
as at 31 March 2012. Corresponding net debt
position increased by 315% to S$18.6 million.
Net debt gearing ratio increased from 5.5%
to 17.8% during FY2012, refecting a more
efcient group capital structure. Despite the
increase, the Group’s gearing level remains
healthy and sizeable headroom remains to
fund further growth.
1,249,068 of new ordinary shares were
issued during FY2012 as scrip dividend to
eligible shareholders who have elected to
take up scrip in lieu of cash dividends under
the MTQ Corporation Limited Scrip Dividend
Scheme.
the payment of the fnal dividend at the
forthcoming Annual General Meeting, the
dividend for FY2012, including the interim
dividend of 2.0 Singapore cents paid (cash &
scrip), will total to 4.0 Singapore cents per
share.
CASH FLOWS
Group cash balance as at 31 March 2012 was
S$27.3 million, an increase of S$3.5 million or
15% higher than the beginning of the fnancial
year.
In FY2012, the Group continued to generate
strong cash fow. Higher cash from operating
activities was due to increase in proft
and efcient working capital management
partially ofset by increase in interest and
tax payments.
SUMMARISED CASH FLOW 2012 2011
S$’000 S$’000
NET CHANGE IN CASH & CASH EQUIVALENTS ARISING FROM :
Net cash provided by operating activities 20,596 22,382
Net cash used in investing activities (31,267) (40,052)
Net cash provided by fnancing activities 14,009 21,243
CASH & CASH EQUIVALENTS :
At beginning of the fnancial year 23,800 20,314
Efects of exchange rate changes thereon 176 (87)
At end of the fnancial year 27,314 23,800
S$86.7 million 16.3 Singapore cents 4.0 Singapore cents
SHAREHOLDERS’ FUNDS AS
AT 31 MARCH 2012
BASIC EARNINGS
PER SHARE IN FY2012
TOTAL DIVIDENDS
FOR FY2012