52
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2014
CONSOLIDATED
CASH FLOW STATEMENT
for the financial year ended 31 December 2014
Note
2014
2013
$’000
$’000
Cash flows from financing activities
Acquisition of non-controlling interests
12
(390)
–
Proceeds from bank borrowings
38,641
188,643
Repayment of bank borrowings
(87,909)
(191,051)
Proceeds from issue of ordinary shares in the Company
25
14,738
–
Dividends paid on ordinary shares of the Company
(1,069)
(3,208)
Dividends paid to minority shareholders of a subsidiary
–
(12)
Repayment of finance lease payables
(84)
(279)
Amount due from shareholders of a subsidiary
–
(604)
Net cash flows used in financing activities
(36,073)
(6,511)
Net increase/(decrease) in cash and cash equivalents
36,799
(1,874)
Effects of exchange rate changes on cash and
cash equivalents
(261)
130
Cash and cash equivalents at beginning of financial year
16,123
17,867
Cash and cash equivalents at end of financial year
19
52,661
16,123
Note A. Purchase of property, plant and equipment
During the financial year, the Group acquired property, plant and equipment with an aggregate cost
of $1,955,000 (2013: $3,691,000). The additions were by way of cash payments of $850,000 (2013:
$3,253,000), assets acquired by means of finance lease of Nil (2013: $32,000), assets transferred from
inventories of $1,055,000 (2013: $270,000) for the purpose of deriving rental income and an amount payable
to other creditors of $50,000 (2013: $136,000).
Cash outflow for the year also include payments in respect of the purchase of property, plant and equipment
in the prior years of $136,000 (2013: $887,000).
Note B. Disposal of property, plant and equipment
During the financial year, the Group received proceeds of $489,000 (2013: $756,000) from property, plant
and equipment disposed in the current year.
Cash inflow for the year also includes the balance of proceeds of $4,300,000 (2013: $38,400,000) from
property, plant and equipment disposed in the previous years.
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
