47
MTQ CORPORATION LIMITED
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
CONSOLIDATED
STATEMENT OF CASH FLOWS
For the financial year ended 31 March 2016
(In Singapore dollars)
Note
2016
$’000
2015
$'000
Cash flows from operating activities:
(Loss)/Profit from operations before taxation
(22,772)
9,177
Adjustments for:
Depreciation of property, plant and equipment
12
13,274
12,565
Amortisation of intangible assets
10
181
289
(Gain)/Loss on disposal of property, plant and equipment
4
(772)
156
Allowance for/(write-back of) impairment of trade receivables
5
335
(197)
Bad debts written-off/(back)
5
(46)
61
Allowance for inventory obsolescence
5
175
173
Fixed assets written-off
5
2,017
355
Employee equity benefits expense
5
235
758
Interest income
4
(196)
(177)
Interest expense
6
2,063
2,405
Share of results of a joint venture company
14
285
1,027
Impairment on goodwill
5
5,761
6,828
Impairment on property, plant and equipment
5
7,042
–
Impairment on intangible assets
5
172
–
Provisions made during the year
23
449
534
Operating cash flows before changes in working capital
8,203
33,954
Decrease in receivables and prepayments
15,869
11,177
Decrease in inventories and work-in-progress
1,024
1,705
Decrease in payables
(8,462)
(8,116)
Currency realignment
(1,004)
(880)
Cash generated from operations
15,630
37,840
Interest income received
196
177
Interest expense paid
(2,087)
(2,413)
Taxes paid, net
(3,387)
(4,794)
Net cash generated from operating activities
10,352
30,810
