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CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2013
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
MTQ Corporat ion Limi ted Annual Repor t 2012/13 42
(In Singapore dollars)
Note 2013 2012
$’000 $’000
Cash flows from operating activities:
Profit from operations before taxation 26,997 13,898
Adjustments for:
Depreciation of property, plant and equipment 12 7,147 5,567
Amortisation of intangible assets 10 48 646
Gain on sale of property, plant and equipment 4 (794) (370)
Net fair value loss on investment securities 3 104 224
Net fair value loss on equity derivatives 3 – 134
Loss/(Gain) on disposal of available-for-sale financial assets, net 5 248 (261)
Provisional gain on bargain purchase, net of net change in fair value of
available-for-sale financial assets reclassified to profit or loss upon
obtaining control (283) –
Fixed assets written off 3 –
Loss on liquidation of a subsidiary 256 –
Employee equity benefits expense 100 –
Interest income 4 (49) (142)
Interest expense 6 1,546 1,099
Dividend income 4 (34) (231)
Operating cash flows before changes in working capital 35,289 20,564
Increase in gross amount due from customers for contract work-in-progress – 3,097
(Increase)/Decrease in receivables and prepayments (16,421) 623
Increase in inventories and work-in-progress (2,964) (3,744)
Increase in payables 11,264 4,288
Currency realignment (407) 396
Cash generated from operations 26,761 25,224
Interest income received 49 142
Interest expense paid (1,456) (1,015)
Taxes paid, net (3,510) (3,755)
Net cash generated from operating activities 21,844 20,596