Note
2015
2014
$’000
$’000
Cash flows from financing activities
Acquisition of non-controlling interests
12
(94)
(390)
Proceeds from bank borrowings
–
38,641
Repayment of bank borrowings
(5,895)
(87,909)
Purchase of treasury shares
26
(21)
–
Proceeds from issuance of ordinary shares in the Company
25
–
14,738
Dividends paid on ordinary shares of the Company
–
(1,069)
Repayment of finance lease payables
(159)
(84)
Net cash flows used in financing activities
(6,169)
(36,073)
Net (decrease)/increase in cash and cash equivalents
(2,007)
36,799
Effects of exchange rate changes on cash and cash equivalents
(140)
(261)
Cash and cash equivalents at beginning of financial year
52,661
16,123
Cash and cash equivalents at end of financial year
18
50,514
52,661
Note A: Purchase of property, plant and equipment
During the financial year, the Group acquired property, plant and equipment with an aggregate cost of
$2,532,000 (2014: $1,955,000). The additions were by way of cash payments of $674,000 (2014: $850,000),
finance lease of $717,000 (2014: Nil), amount payable to other creditors of Nil (2014: $50,000), transfer
of assets from prepaid expenses and inventories amounting to $27,000 (2014: Nil) and $1,114,000 (2014:
$1,055,000) respectively.
Cash outflow for the year also include payments in respect of the purchase of property, plant and equipment
in the prior years of $50,000 (2014: $136,000).
Note B: Disposal of property, plant and equipment
During the financial year, the Group received proceeds of $175,000 (2014: $489,000) from property, plant
and equipment disposed in the current year.
Cash inflow for the year also includes the balance of proceeds of Nil (2014: $4,300,000) 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.
52
CONSOLIDATED
CASHFLOWSTATEMENT
For the financial year ended 31 December 2015
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2015
