BUILDING LANDMARKS, CHARTING GROWTH
193
Annual Report 2015
CONSOLIDATED STATEMENT OF CASH FLOWS
Period from 1 July 2014 to 31 December 2015
Period from
1/7/2014 to Year ended
Note 31/12/2015
30/6/2014
$’000
$’000
Cash flows from investing activities
Interest received
360
5
Acquisition of subsidiaries, net of cash acquired
4
110,054
–
Acquisition of plant and equipment
(1,554)
(241)
Proceeds from disposal of plant and equipment
–
260
Development expenditure – investment properties
(136,636)
–
Loan to associates
(38,586)
–
Investment in an associate
(113,818)
–
Acquisition of other financial assets
(48,645)
–
Net cash (used in)/from investing activities
(228,825)
24
Cash flows from financing activities
Distribution paid to unitholders of a subsidiary
(10,884)
–
Proceeds from loans and borrowings
1,250,126
–
Payment of upfront debt arrangement costs
(12,352)
–
Repayment of loans and borrowings
(680,734)
(1,306)
Repayment of finance lease liabilities
–
(252)
Repayment from related parties (non-trade)
–
69
Capital injection by non-controlling interests
3,214
–
Dividends paid to non-controlling shareholders of subsidiaries
(1,030)
–
Interest paid
(72,665)
(32)
Net cash from/(used in) financing activities
475,675
(1,521)
Net increase/(decrease) in cash and cash equivalents
158,610
(1,336)
Cash and cash equivalents at beginning of the period/year
2,730
4,066
Effect of exchange rate fluctuations on cash held
690
–
Cash and cash equivalents at end of the period/year
11
162,030
2,730
Significant non-cash transactions
During the period ended 31 December 2015, the Company:
• issued 1,644,878,000 ordinary shares in relation to the initial acquisition (see note 4).
• issued 2,932,000 ordinary shares to acquire non-controlling interest for a consideration of $3.9 million.
• disposed the entertainment businesses in its entirety to Citybar Holdings Pte. Ltd. (the “NewCo”), in exchange for shares
issued and allotted by the NewCo to the Group. Thereafter the Group made distribution in specie of the shareholders by
way of a capital reduction.
The accompanying notes form an integral part of these financial statements.
