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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 43
(In Singapore dollars)
Note 2013 2012
$’000 $’000
Cash flows from investing activities:
Dividends received 34 231
Purchase of property, plant and equipment (4,056) (4,804)
Acquisition of subsidiaries 13 (30,033) (24,069)
Proceeds from sale of property, plant and equipment 1,938 854
Proceeds from sale of investment in quoted shares, net of brokerage 4,460 588
Investment in equity securities, net of brokerage (2,156) (4,179)
Proceeds from liquidation of a subsidiary (15) –
Acquisition of non-controlling interests (9,904) –
Loans granted to staff (168) –
Loans repaid by staff 107 112
Net cash used in investing activities (39,793) (31,267)
Cash flows from financing activities:
Dividends paid 27 (1,690) (2,580)
Share issuance expense 25 (64) (75)
Proceeds from bank borrowings 47,341 18,561
Proceeds from exercise of employee share options, net of transaction costs 12 –
Proceeds from sale of treasury shares 6,163 –
Repayment of bank borrowings (19,845) (1,088)
Repayment of finance lease (492) (454)
Repayment of loan from a non-controlling shareholder of a subsidiary – (355)
Net cash generated from financing activities 31,425 14,009
Net increase in cash and cash equivalents 13,476 3,338
Cash and cash equivalents at 1 April 18 27,314 23,800
Effect of exchange rate changes on cash and cash equivalents 121 176
Cash and cash equivalents at 31 March 18 40,911 27,314