contents
- • performance highlights
- • chairman’s message
- • ceo’s message
- •
- • board of directors
- • senior management
- • M1 and the community
- • investor relations
- • corporate governance
- • particulars of directors
- • particulars of senior management
- •
- • major properties
- • statistics of shareholdings
- • corporate information
consolidated cash flows statement
For the Financial Year Ended 31 December 2010
| Notes | 2010 | 2009 | ||
| S$’000 | S$’000 | |||
| Cash flows from operating activities: | ||||
| Profit before tax | 190,462 | 175,106 | ||
| Adjustments for: | ||||
| Depreciation of fixed assets | 110,651 | 121,719 | ||
| Gain on disposals of fixed assets | (530) | (600) | ||
| Amortisation of licences and spectrum rights | 6,349 | 6,407 | ||
| Share option expenses | 1,434 | 1,267 | ||
| Interest income | (14) | (50) | ||
| Interest expense | 5,845 | 6,462 | ||
| Operating cash flows before working capital changes | 314,197 | 310,311 | ||
| Changes in: | ||||
| Inventories | 1,966 | (16,591) | ||
| Trade debtors | (90,942) | (16,322) | ||
| Other debtors and deposits | (2,448) | (3,725) | ||
| Prepayments | 185 | (1,289) | ||
| Non-current staff loans | (41) | 39 | ||
| Creditors and accruals | 5,369 | 1,857 | ||
| Unearned revenue | 2,022 | (872) | ||
| Related parties | 81 | (4,076) | ||
| Cash generated from operations | 230,389 | 269,332 | ||
| Interest received | 14 | 50 | ||
| Interest paid | (5,905) | (6,564) | ||
| Payment of tax | (37,097) | (40,825) | ||
| Net cash flows from operating activities | 187,401 | 221,993 | ||
| Cash flows from investing activities: | ||||
| Purchase of fixed assets | (99,862) | (118,962) | ||
| Acquisition of subsidiary | (1,000) | (13,253) | ||
| Purchase of licences and spectrum rights | (20,006) | – | ||
| Purchase of club membership | – | (65) | ||
| Proceeds from disposal of fixed assets | 535 | 610 | ||
| Net cash flows used in investing activities | (120,333) | (131,670) | ||
| Cash flows from financing activities: | ||||
| Proceeds from bank loans | 297,000 | 42,500 | ||
| Repayment of bank loans | (250,000) | (23,500) | ||
| Dividends paid on ordinary shares by the Company | (121,244) | (119,932) | ||
| Proceeds from issuance of share capital on exercise of employee share options | 8,520 | 261 | ||
| Net cash flows used in financing activities | (65,724) | (100,671) | ||
| Net changes in cash and cash equivalents | 1,344 | (10,348) | ||
| Cash and cash equivalents at beginning of financial year | 20 | 7,439 | 17,787 | |
| Cash and cash equivalents at end of financial year | 20 | 8,783 | 7,439 |
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
