KIM HENG OFFSHORE & MARINE HOLDINGS LIMITED
ANNUAL REPORT 2014
58
CONSOLIDATED
STATEMENT OF CASH FLOWS
Year ended 31 December 2014
The accompanying notes form an integral part of these financial statements.
Group
Note 2014
2013
$’000
$’000
Cash flows from operating activities
Profit before tax
5,814
20,346
Adjustments for:
Depreciation of property, plant and equipment
4
4,031
4,427
(Gain)/loss on disposal of property, plant and equipment
18
(1,069)
238
Interest income
18
(297)
(3)
Interest expense
19
422
722
8,901
25,730
Changes in:
- inventories
(1,542)
752
- trade and other receivables
14,241
(4,602)
- trade and other payables
2,457
(838)
- amounts due to directors
–
(120)
Cash generated from operations
24,057
20,922
Tax paid
(3,308)
(723)
Net cash from operating activities
20,749
20,199
Cash flows from investing activities
Deposits pertaining to purchase of property,
plant and equipment
(680)
(497)
Purchase of property, plant and equipment
(7,720)
(3,111)
Advance receipts pertaining to purchase of property, plant and
equipment
–
1,800
Proceeds from disposal of property, plant and equipment
5,029
5,764
Acquisition of club membership
(45)
–
Interest received
297
3
Net cash (used in)/from investing activities
(3,119)
3,959
