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
(cont’d)
122
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 financing
activities
Increase (decrease) in amounts
due to holding company
Proceeds from issue of
2,169 (464) 1,921 1,806 (485) — (485)
share capital — — — — — 10,000 10,000
Net cash from (used in)
financing activities 2,169 (464) 1,921 1,806 (485) 10,000 9,515
Net increase (decrease) in cash
and cash equivalents — 126 287 96 (264) 3,526 3,262
Cash retained by SPH
Cash and cash equivalents at
beginning of financial year or
— — — — — — (149)
period — — 126 126 413 — 413
Cash and cash equivalents at
end of financial year or
period (Note 16) — 126 413 222 149 3,526 3,526
The statements of cash flows for the six-month period ended February 29, 2000 comprise:
(A) the proforma cash flows of the Company from September 1, 1999 to November 30, 1999 (effective date of the Business
Transfer Agreement); and
(B) the cash flows of the Company for the period from July 23, 1999 (date of incorporation) to February 29, 2000.
The accompanying notes form an integral part of the financial statements.