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Annual Report 2014 | S P SETIA BERHAD GROUP | 111

V. FINANCIAL STATEMENTS

Group

Company

2014

2013

2014

2013

RM’000

RM’000

RM’000

RM’000

Restated

CASH FLOWS FROM OPERATING ACTIVITIES

Profit before tax

722,438

658,415

339,294

309,507

Adjustments for:

Allowance for doubtful debts no longer required

(3,597)

(76)

(1,410)

(8,013)

Bad and doubtful debts

59

1,995

53

30

Development expenditure written off

-

303

-

-

Depreciation of property, plant and equipment and

investment properties

28,259

20,959

58

71

Gain on disposal of property, plant and equipment

(15,804)

(696)

(27)

-

Gain on disposal of investment properties

(39,614)

(9,192)

-

-

Loss on disposal of unquoted investment

-

40

-

-

Loss/(Gain) on disposal of subsidiary companies

146

(878)

(304)

-

Loss on liquidation of subsidiary companies

2,215

-

-

-

(Gain)/Loss on disposal of an associated company

(207)

2

(1,258)

-

Loss on liquidation of an associated company

62

-

-

-

Property, plant and equipment written off

259

6,077

-

-

Amortisation of bond discounts

-

-

-

416

Share of losses in jointly controlled entities

77,867

29,476

-

-

Share of losses in associated companies

94

162

-

-

Interest income from financial assets measured at amortised cost

-

(652)

(3,711)

(5,273)

Interest expense on financial liabilities measured at amortised cost

7,444

9,322

-

-

Loss from fair value adjustment of financial assets

-

-

2,136

18,331

Gain from fair value adjustment of financial liabilities

(9,449

)

(19,933)

-

(119)

Share-based payment

37,384

23,529

9,261

9

Unrealised foreign exchange loss/(gain)

306

(1,096)

-

-

Interest expense

52,522

48,503

41,556

40,053

Dividend income

-

-

(244,989)

(253,368)

Interest income

(75,871)

(50,050)

(145,538)

(115,065)

Rental income

(14,700)

(10,408)

-

-

Operating profit/(loss) before working capital changes

769,813

705,802

(4,879)

(13,421)

Changes in property development costs

187,288

152,073

-

-

Changes in accrued billings/progress billings

(343,420)

450,983

-

-

Changes in gross amount due from/to customers

(14,906)

13,366

-

-

Changes in inventories

(20,850)

(444)

-

-

Changes in receivables

304,166

(177,022)

4,920

3,535

Changes in payables

(12,046)

41,856

(4,268)

(17,427)

Cash generated from/(used in) operations

870,045

1,186,614

(4,227)

(27,313)

Rental received

1,810

726

-

-

Interest received

36,163

21,455

72

331

Interest paid

(196,729)

(147,111)

(1,084)

(1,304)

Net tax paid

(263,048)

(262,849)

(19,016)

(16,715)

Net cash generated from/(used in) operating activities

448,241

798,835

(24,255)

(45,001)

statements

of cash flows

For The Year Ended 31 October 2014