Consolidated Cash Flow Statement
For the financial year ended 31 December 2013
| Notes | 2013 S$'000 |
2012 S$'000 |
|
| Cash flows from operating activities: | |||
| Profit before tax | 192,796 | 183,390 | |
| Adjustments for: | |||
| Depreciation of fixed assets | 103,242 | 99,228 | |
| Gain on disposal of fixed assets | (1,156) | (758) | |
| Amortisation of licences, spectrum rights and other intangibles | 11,811 | 11,786 | |
| Share-based payments | 1,548 | 646 | |
| Interest income | (85) | (7) | |
| Interest expense | 4,455 | 5,512 | |
| Operating cash flows before working capital changes | 312,611 | 299,797 | |
| Changes in: | |||
| Inventories | 4,055 | 3,220 | |
| Trade debtors | 35,175 | 7,750 | |
| Other debtors and deposits | 1,360 | 4,632 | |
| Prepayments | (1,108) | (1,057) | |
| Non-current staff loans | 68 | 278 | |
| Creditors and accruals | (6,722) | (7,909) | |
| Unearned revenue | (10,215) | 1,372 | |
| Related parties | 911 | (617) | |
| Cash generated from operations | 336,135 | 307,466 | |
| Interest received | 77 | 7 | |
| Interest paid | (4,568) | (6,058) | |
| Tax paid | (29,656) | (26,534) | |
| Net cash flows from operating activities | 301,988 | 274,881 | |
| Cash flows from investing activities: | |||
| Purchase of fixed assets | (125,303) | (122,541) | |
| Acquisition of intangibles assets | (699) | – | |
| Proceeds from disposal of fixed assets | 3,629 | 1,023 | |
| Net cash flows used in investing activities | (122,373) | (121,518) | |
| Cash flows from financing activities: | |||
| Proceeds from bank loans | 2,500 | 120,500 | |
| Repayment of bank loans | (24,500) | (151,800) | |
| Dividends paid on ordinary shares by the Company | (136,317) | (132,153) | |
| Proceeds from issuance of ordinary shares on exercise of employee share options | 21,545 | 9,860 | |
| Net cash flows used in financing activities | (136,772) | (153,593) | |
| Net changes in cash and cash equivalents | 42,843 | (230) | |
| Cash and cash equivalents at beginning of financial year | 20 | 11,607 | 11,837 |
| Cash and cash equivalents at end of financial year | 20 | 54,450 | 11,607 |
The accompanying accounting policies and explanatory notes form an integral part of these financial statements.