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Consolidated Cash Flow Statement

For the year ended 31 December
Note 2016
US$'000
2015
US$'000
Operating activities
    Cash generated from operations 27 51,031 99,729
    Hong Kong profits tax paid (694) (647)
    Overseas taxation paid (816) (467)
Net cash generated from operating activities 49,521 98,615
Investing activities
    Purchase of property, plant and equipment (181,340) (146,408)
    Disposal of property, plant and equipment 16,066 2,970
    Disposal of investment properties 5,065 -
    Disposal of joint ventures 650 14,400
    Disposal of harbour towage business and other vessels - 117,491
    Disposal of assets held for sale - 5,647
    Decrease/(increase) in term deposits 58,166 (53,633)
    Decrease in restricted bank deposits - 1,636
    Interest received 2,750 2,925
    Loan repayment received from a joint venture - 120
Net cash used in investing activities (98,643) (54,852)
Financing activities
    Drawdown of bank loans and other borrowings 344,851 190,682
    Repayment of bank loans and other borrowings (209,953) (265,101)
    Repayment of finance lease liabilities - capital element - (5,003)
    Payment for redemption/buyback of convertible bonds 19(c) (229,390) (103,257)
    Proceeds from issuance of convertible bond, net of issuing expenses - 123,725
    Proceeds from rights issue, net of issuing expenses 20,21 142,772 -
    Payment for shares purchased by trustee of the SAS 20 (1,809) (530)
    Shares granted to employees in the form of restricted shares awards 991 -
    Interest and other finance charges paid (29,350) (28,568)
    Dividends paid to shareholders of the Company - (12,368)
Net cash generated from/(used in) financing activities 18,112 (100,420)
Net decrease in cash and cash equivalents (31,010) (56,657)
Exchange losses on cash and cash equivalents (48) (337)
Cash and cash equivalents at 1 January 199,737 256,731
Cash and cash equivalents at 31 December 14 168,679 199,737
Term deposits at 1 January 14 158,633 105,000
(Decrease)/increase in term deposit (58,166) 53,633
Cash and deposits at 31 December 14 269,146 358,370

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