Notes |
2016 S$'000 |
2015 S$'000 |
|
| Cash flows from operating activities: | |||
| Profit before tax | 178,544 | 218,420 | |
| Adjustments for: | |||
| Depreciation of fixed assets | 11 | 112,406 | 105,411 |
| Loss/(gain) on disposal of fixed assets, net | 5 | 5 | (109) |
| Amortisation of licences, spectrum rights and other intangibles | 14,354 | 13,037 | |
| Share-based payments | 5 | 1,147 | 2,062 |
| Interest income | 6 | (152) | (37) |
| Interest expense | 7 | 6,749 | 4,918 |
| Share of loss of an associate | 53 | – | |
| Operating cash flows before working capital changes | 313,106 | 343,702 | |
| Changes in working capital: | |||
| Decrease/(increase) in inventories | 28,540 | (21,179) | |
| Decrease/(increase) in trade receivables | 338 | (16,244) | |
| Decrease/(increase) in other receivables and deposits | 6,391 | (6,555) | |
| Decrease in prepayments | (11) | (3,637) | |
| Decrease in non-current staff loans | (144) | (87) | |
| Increase/(decrease) in trade payables and accruals | 19,704 | (11,773) | |
| Increase/(decrease) in unearned revenue | 7,346 | (969) | |
| (Increase)/decrease in related parties | (861) | 371 | |
| Cash generated from operations | 374,409 | 283,629 | |
| Interest received | 6 | 152 | 35 |
| Interest paid | (6,498) | (4,900) | |
| Tax paid | (33,213) | (39,630) | |
| Net cash flows from operating activities | 334,850 | 239,134 | |
| Cash flows from investing activities: | |||
| Purchase of fixed assets | 11 | (140,546) | (133,482) |
| Acquisition of intangible assets | 13 | (687) | – |
| Purchase of spectrum rights | 12 | (64,064) | – |
| Purchase of long-term investments | (11,899) | (8,471) | |
| Acquisition of an associate | (3,000) | – | |
| Proceeds from disposal of fixed assets | 27 | 110 | |
| Net cash flows used in investing activities | (220,169) | (141,843) | |
| Cash flows from financing activities: | |||
| Purchase of treasury shares | 25 | (19,328) | – |
| Proceeds from bank loans | 152,400 | 171,100 | |
| Repayment of bank loans | (105,200) | (119,300) | |
| Dividends paid on ordinary shares by the Company | 34 | (142,261) | (177,024) |
| Proceeds from issuance of ordinary shares on exercise | |||
| of employee share options – treasury shares | 25 | 657 | – |
| Proceeds from issuance of ordinary shares on exercise | |||
| of employee share options – new shares | – | 94 | 15,123 |
| Net cash flows used in financing activities | (113,638) | (110,101) | |
| Net changes in cash and cash equivalents | 1,043 | (12,810) | |
| Cash and cash equivalents at beginning of financial year | 22 | 9,973 | 22,783 |
| Cash and cash equivalents at end of financial year | 22 | 11,016 | 9,973 |
The accompanying accounting policies and explanatory notes form an integral part of these financial statements.
