68 / 128
DYNA-MAC HOLDINGS LTD.
2016 ANNUAL REPORT
66
CONSOLIDATED STATEMENT OF
CASH FLOWS
For the financial year ended 31 December 2016
Group
Notes
2016
2015
$’000
$’000
Cash flows from operating activities
Net loss
(15,665)
(5,183)
Adjustments for:
– Income tax expense
9(a)
743
3,373
– Depreciation of property, plant and equipment
19
12,801
13,684
– Loss/(Gain) on disposal of property, plant and equipment
7
16
(80)
– Impairment of property, plant and equipment
7
11,128
–
– Interest income
7
(370)
(118)
– Finance expenses
8
2,989
3,414
– Fair value gains on derivative financial instruments
7
(1,300)
(2,802)
– Unrealised currency translation (gains)/losses
(1,855)
2,552
– Write off of property, plant and equipment
7
–
273
– Allowance for doubtful debts
5
–
2,255
– Bad debts written off
5
11,312
5,565
– Loss from misappropriation of funds
7
832
–
– Impairment of goodwill
7
5,556
–
26,187
22,933
Changes in working capital:
– Trade and other receivables
52,694
45,402
– Construction contract work–in–progress
459
6,976
– Inventories
5,434
5,147
– Other current assets
(2,570)
487
– Trade and other payables
(48,644)
(21,302)
Cash generated from operations
33,560
59,643
Interest received
370
118
Income tax paid
9(b)
(2,500)
(5,239)
Net cash provided by operating activities
31,430
54,522
Cash flows from investing activities
– Additions to property, plant and equipment
(1,593)
(8,341)
– Proceeds from disposal of property, plant and equipment
138
860
– Disposal of interest in subsidiary
1,500
–
– Decrease in bank deposits with maturity more than 3 months
–
26,276
Net cash provided by investing activities
45
18,795
Cash flows from financing activities
– Proceeds from borrowings
809
16,913
– Repayments of medium term note
(49,995)
–
– Repayment of finance lease liabilities
(41)
(234)
– Interest expense paid
(2,527)
(1,927)
– Dividends paid to equity holders of the Company
29
–
(15,348)
– Restricted cash
3,214
(3,214)
Net cash used in financing activities
(48,540)
(3,810)
Net (decrease)/increase in cash and cash equivalents
(17,065)
69,507
Cash and cash equivalents
Beginning of financial year
85,211
15,879
Effects of currency translation on cash and cash equivalents
1,389
(175)
End of financial year
10
69,535
85,211
The accompanying notes form an integral part of these financial statements.