| Notes | 2014 | 2013 | |
| S$’000 | S$’000 | ||
| Cash flows from operating activities: | |||
| Profit before tax | 217,074 | 192,796 | |
| Adjustments for: | |||
| Depreciation of fixed assets | 102,618 | 103,242 | |
| Gain on disposal of fixed assets | (639) | (1,156) | |
| Amortisation of licences, spectrum rights and other intangibles | 11,791 | 11,811 | |
| Share-based payments | 1,815 | 1,548 | |
| Interest income | (107) | (85) | |
| Interest expense | 4,043 | 4,455 | |
| Operating cash flows before working capital changes | 336,595 | 312,611 | |
| Changes in: | |||
| Inventories | (1,278) | 4,055 | |
| Trade debtors | (4,876) | 35,175 | |
| Other debtors and deposits | (2,110) | 1,360 | |
| Prepayments | 109 | (1,108) | |
| Non-current staff loans | 101 | 68 | |
| Creditors and accruals | (23,669) | (6,722) | |
| Unearned revenue | 1,714 | (10,215) | |
| Related parties | (819) | 911 | |
| Cash generated from operations | 305,767 | 336,135 | |
| Interest received | 115 | 77 | |
| Interest paid | (4,041) | (4,568) | |
| Tax paid | (28,956) | (29,656) | |
| Net cash flows from operating activities | 272,885 | 301,988 | |
| Cash flows from investing activities: | |||
| Purchase of fixed assets | (139,684) | (125,303) | |
| Acquisition of intangible assets | – | (699) | |
| Purchase of spectrum rights | (40,127) | – | |
| Proceeds from sale of licence | 85 | – | |
| Proceeds from disposal of fixed assets | 1,293 | 3,629 | |
| Net cash flows used in investing activities | (178,433) | (122,373) | |
| Cash flows from financing activities: | |||
| Proceeds from bank loans | 110,000 | 2,500 | |
| Repayment of bank loans | (58,000) | (24,500) | |
| Dividends paid on ordinary shares by the Company | (196,915) | (136,317) | |
| Proceeds from issuance of ordinary shares on exercise of employee share options | 18,796 | 21,545 | |
| Net cash flows used in financing activities | (126,119) | (136,772) | |
| Net changes in cash and cash equivalents | (31,667) | 42,843 | |
| Cash and cash equivalents at beginning of financial year | 20 | 54,450 | 11,607 |
| Cash and cash equivalents at end of financial year | 20 | 22,783 | 54,450 |
The accompanying accounting policies and explanatory notes form an integral part of these financial statements.