notes to the financial statements - Investor Relations

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CWT Limited 56 CONSOLIDATED STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2011 2011 2010 $’000 $’000 Cash flows from operating activities Profit before income tax 65,082 189,379 Adjustments for: Interest expense 13,484 2,185 Interest income (8,185) (1,065) Dividend income from available-for-sale financial assets (7,585) (4,656) Depreciation of property, plant and equipment 21,854 16,559 Net (gain)/loss on disposal or liquidation of: - Available-for-sale financial assets (2,123) (1,607) - Property, plant and equipment and intangible assets (2,672) 225 - Subsidiaries, jointly-controlled entity and associates (4,718) (444) - Non-current assets held-for-sale – (147,581) Share of profit of associates and jointly-controlled entities (8,222) (4,783) Amortisation of: - Intangible assets 5,308 1,599 - Deferred gain (32,871) (26,966) Fair value gain on a derivative instrument – (43) Allowance/(reversal) of impairment losses on: - Intangible assets 127 – - Trade and other receivables 729 350 - Property, plant and equipment 378 (41) Provision (334) 38 Operating profit before working capital changes 40,252 23,149 Changes in working capital: Inventories 179,363 202 Trade and other receivables (46,531) (30,659) Trade and other payables 33,393 14,268 Customer segregated funds (41,469) – Cash generated from operations 165,008 6,960 Income taxes paid (5,685) (5,552) Net cash from operating activities 159,323 1,408 The accompanying notes form an integral part of these financial statements.
CONSOLIDATED STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2011 Annual Report 2011 Note 2011 2010 $’000 $’000 Cash flows from investing activities Interest received Dividends received from: 8,249 1,084 - Associates and jointly-controlled entities 3,505 1,452 - Available-for-sale financial assets Purchases of: 7,585 4,656 - Property, plant and equipment (68,424) (57,936) - Intangible assets (742) (250) - Available-for-sale financial assets (6,132) (68,732) - Exchange membership (4,429) – Contingent consideration paid Proceeds from disposal of: – (2,747) - Property, plant and equipment 9,642 1,039 - Available-for-sale financial assets 10,158 4,013 - Non-current assets held-for-sale – 426,103 - Subsidiaries, net of cash disposed of Acquisitions of interest in: 41 12,971 (3,760) - Subsidiaries, net of cash acquired 40 (418,491) (3,012) - Associates (1,155) (2,804) - Jointly-controlled entities (10,549) (400) - Non-controlling interests (428) – Net cash (used in)/from investing activities (458,240) 298,706 Cash flows from financing activities Interest paid (13,484) (2,185) Dividends paid: - Equity holders of the Company (14,758) (47,224) - Non-controlling interests (1,242) (1,071) Proceeds from issuance of new shares – 12,575 Capital contributions from non-controlling interests 4,142 2,118 Loan to an associate (420) (4,200) Repayment of finance lease obligations (860) (981) Repayment of loan from non-controlling interest (116) – Proceeds from bank borrowings 143,847 12,983 Repayment of bank borrowings (74,676) (159,976) Quasi equity loan to jointly-controlled entities (1,296) – Loan from non-controlling interest 3,677 – Changes in pledged fixed deposits (288) 3,342 Net cash from/(used in) financing activities 44,526 (184,619) Net (decrease)/increase in cash and cash equivalents (254,391) 115,495 Cash and cash equivalents at beginning of the year 197,337 83,549 Effect of exchange rate fluctuations on balances held in foreign currencies 1,927 (1,707) Cash and cash equivalents at end of the year 21 (55,127) 197,337 The accompanying notes form an integral part of these financial statements. 57
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CWT Limited Annual Report 2011 Annu
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ABOUT THE CWT GROUP VISION To Be A
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GROUP FIVE-YEAR FINANCIAL SUMMARY F
Page 7: Largest warehouse operator in Singa
Page 10 and 11: CWT Limited CHAIRMAN’S STATEMENT
Page 12 and 13: CWT Limited BOARD OF DIRECTORS Loi
Page 14 and 15: CWT Limited EXECUTIVE TEAM Loi Pok
Page 17 and 18: ELEVATION Rising through resilience
Page 19 and 20: COMMODITY SUPPLY CHAIN MANAGEMENT C
Page 21: MIDDLE EAST Kuwait Kuwait UK Estoni
Page 24 and 25: CWT Limited OPERATIONS REVIEW “Am
Page 26 and 27: CWT Limited OPERATIONS REVIEW 1. Br
Page 29 and 30: CHARACTER Our identity and performa
Page 31 and 32: EHS activities and related awards E
Page 33 and 34: Investor Relations We regularly eng
Page 35 and 36: CORPORATE GOVERNANCE Annual Report
Page 47 and 48: DIRECTORS’ REPORT YEAR ENDED 31 D
Page 49 and 50: STATEMENT BY DIRECTORS YEAR ENDED 3
Page 51 and 52: STATEMENT OF FINANCIAL POSITION AS
Page 53 and 54: Annual Report 2011 CONSOLIDATED STA
Page 55 and 56: CONSOLIDATED STATEMENT OF CHANGES I
Page 57: CONSOLIDATED STATEMENT OF CHANGES I
Page 61 and 62: NOTES TO THE FINANCIAL STATEMENTS Y
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NOTES TO THE FINANCIAL STATEMENTS Y
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STATISTICS OF SHAREHOLDINGS SHAREHO
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NOTICE OF ANNUAL GENERAL MEETING An
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NOTICE OF ANNUAL GENERAL MEETING An
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CWT LIMITED (Company Registration N
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CORPORATE DIRECTORY Loi Pok Yen Gro
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notes to the financial statements - Investor Relations

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