66
SINGAPORE SHIPPING CORPORATION LIMITED
The Group
Note 2016
US$’000
2015
US$’000
(Restated)
Cash flows from operating activities
Profit before taxation
9,568
8,900
Adjustments for:
Depreciation expense on property, plant and equipment
9
6,940
3,778
Property, plant and equipment written off
13
30
Share-based payment expense
82
–
Interest income
6
(62)
(78)
Dividend income
–
(23)
Net change in fair value of financial assets held for trading
6
21
(6)
Gain on disposal of financial assets held for trading
6
–
(259)
Gain on disposal of asset held for sale
–
(84)
Finance costs on bank borrowings
2,968
700
Loss/(gain) on foreign exchange
171
(657)
Share of results of associated company and joint venture,
net of tax
124
38
19,825
12,339
Changes in working capital:
Inventories
1
(302)
Trade and other receivables
681
(1,265)
Trade and other payables
1,083
1,105
Deferred income
4,150
414
Cash generated from operations
25,740
12,291
Tax paid
(14)
(45)
Net cash from operating activities
25,726
12,246
The accompanying notes form an integral part of these financial statements.
CONSOLIDATED STATEMENT OF CASH FLOWS
for the financial year ended 31 March 2016
