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Note 2012 2011
$’000 $’000
Cash flows from investing activities
Proceeds from disposal of property, plant and equipment and
investment properties 53,192 20,832
Cost incurred on property, plant and equipment (142,407) (31,275)
Cost incurred on investment properties (11,223) (57,647)
Proceeds from disposal of investment securities 1,586 –
Increase in deferred mine development and exploration expenditure and
other intangible assets (4,556) (17,543)
Net cash inflow on disposal of disposal group classified as held for sale 24 – 4,535
Receipt/(Payment) for insurance scheme 1,918 (4,608)
Additional shares in associates and joint venture (510) (1,948)
Payment for mine closure deposit (8,558) –
Net cash flows used in investing activities (110,558) (87,654)
Cash flows from financing activities
Dividends paid to shareholders 35 (13,036) (6,518)
Dividends paid to non-controlling shareholders of a subsidiary (2,457) (2,083)
Repayment of short-term borrowings (44,628) (67,092)
Drawdown of long-term borrowings 59,552 59,616
Repayment of long-term borrowings (11,772) (52,393)
Proceeds from issuance of fixed rate notes – 225,000
Proceeds from loan to joint venture 1,805 –
Release of security deposits for bank guarantees – 16,909
Net proceeds from issuance of shares by subsidiary to
non-controlling shareholders – 41,855
Net cash flows (used in)/from financing activities (10,536) 215,294
Net (decrease)/increase in cash and cash equivalents (111,140) 241,782
Effect of exchange rate changes on cash and cash equivalents (4,016) (276)
Cash and cash equivalents, beginning balance 313,323 71,817
Cash and cash equivalents, ending balance 28 198,167 313,323
Consolidated Cash Flow Statement
For the Financial Year Ended 31 December 2012
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
The Straits Trading Company Limited ANNUAL REPORT 2012 55 /