Asiaone 1-42

FINANCIAL STATEMENTS
Statements of Cash Flows for the financial years ended August 31, 1997, 1998 and
1999 and for the six-month periods ended February 28, 1999 and February 29, 2000
121
Proforma Company
(A) (B) (A) + (B)
Six- Sixmonth
September July month
period 1, 1999 23, 1999 period
Financial year ended to to ended
ended August 31, February November February February
(All figures in 1997 1998 1999 28, 1999 30, 1999 29, 2000 29, 2000
thousands) S$ S$ S$ S$
(unaudited)
S$ S$ S$
Cash flows from operating
activities
Profit (loss) before income tax
Adjustments for:
(734) 707 (538) (697) 120 (2,261) (2,141)
Interest income — — — — — (18) (18)
Depreciation of fixed assets 860 264 325 147 155 192 347
Cash generated from operations
before reinvestment in working
capital
Decrease (increase) in trade
126 971 (213) (550) 275 (2,087) (1,812)
debtors and other debtors
Net increase in amounts
due from holding company and
(416) (96) (349) 92 825 (1,434) (609)
related company
(Decrease) increase in trade
— — — — — (555) (555)
creditors and other creditors 73 (41) (690) (1,015) (593) 1,976 1,383
Net cash provided by (used in)
operating activities (217) 834 (1,252) (1,473) 507 (2,100) (1,593)
Cash flows from investing
activities
Purchases of fixed assets (1,952) (244) (382) (237) (286) (4,392) (4,678)
Interest received — — — — — 18 18
Net cash used in investing
activities (1,952) (244) (382) (237) (286) (4,374) (4,660)