Notes |
2017 S$'000 |
2016 S$'000 |
|
| Cash flows from operating activities: | |||
| Profit before tax | 162,634 | 178,544 | |
| Adjustments for: | |||
| Depreciation of fixed assets | 11 | 114,330 | 112,406 |
| (Gain)/loss on disposal of fixed assets, net | 5 | (2,332) | 5 |
| Amortisation of licences, spectrum rights and other intangibles | 15,573 | 14,354 | |
| Share-based payments | 5 | 631 | 1,147 |
| Interest income | 6 | (483) | (152) |
| Interest expense | 7 | 9,884 | 6,749 |
| Share of loss of an associate | 286 | 53 | |
| Allowance for doubtful debts | 9,046 | 8,369 | |
| Operating cash flows before working capital changes | 309,569 | 321,475 | |
| Changes in working capital: | |||
| (Increase)/decrease in inventories | (26,852) | 28,540 | |
| Increase in trade receivables | (5,456)
| (8,031) |
| |
| (Increase)/decrease in other receivables and deposits | (24,665)
| 6,391 |
| |
| Increase in prepayments | (959)
| (11) |
| |
| Increase in non-current staff loans | (111)
| (144) |
| |
| Increase in trade payables and accruals | 41,720
| 19,704 |
| |
| (Decrease)/increase in unearned revenue | (1,508)
| 7,346 |
| |
| Decrease/(increase) in net amount due from related parties | 272
| (861) |
| |
| Cash generated from operations | 292,010 | 374,409 | |
| Interest received | 6 | 139 | 152 |
| Interest paid | (8,713) | (6,498) | |
| Tax paid | (24,419) | (33,213) | |
| Net cash flows from operating activities | 259,017 | 334,850 | |
| Cash flows from investing activities: | |||
| Purchase of fixed assets | 11 | (132,309) | (140,546) |
| Net cash outflow on acquisition of a business | 13 | (936) | – |
| Acquisition of intangible assets | 13 | – | (687) |
| Purchase of spectrum rights | 12 | (20,000) | (64,064) |
| Purchase of investment securities | (7,290) | (11,899) | |
| Acquisition of an associate | – | (3,000) | |
| Proceeds from disposal of fixed assets | – | 27 | |
| Net cash flows used in investing activities | (160,535) | (220,169) | |
| Cash flows from financing activities: | |||
| Purchase of treasury shares | 25 | (8,949) | (19,328) |
| Proceeds from bank loans | 174,800 | 152,400 | |
| Repayment of bank loans | (125,800) | (105,200) | |
| Dividends paid on ordinary shares by the Company | 34 | (103,241) | (142,261) |
| Proceeds from issuance of ordinary shares on exercise | |||
| of employee share options – treasury shares | 25 | 172 | 657 |
| Proceeds from issuance of ordinary shares on exercise | |||
| of employee share options – new shares | – | – | 94 |
| Net cash flows used in financing activities | (63,018) | (113,638) | |
| Net changes in cash and cash equivalents | 35,464 | 1,043 | |
| Cash and cash equivalents at beginning of financial year | 22 | 11,016 | 9,973 |
| Cash and cash equivalents at end of financial year | 22 | 46,480 | 11,016 |
The accompanying accounting policies and explanatory notes form an integral part of these financial statements.
