44
TEHO INTERNATIONAL INC LTD.
Annual Report 2016
CONSOLIDATED
STATEMENT
OF CASH FLOWS
Year ended 30 June 2016
Group
Note 2016
2015
$
$
Cash flows from operating activities
Loss before tax
(23,661,572) (7,456,501)
Adjustments for:
Allowance for impairment on trade receivables
228,246 464,728
Allowance for foreseeable loss on development
properties
74,300 788,108
Amortisation of intangible assets
521,000 521,000
Bad debts written off
213,836
–
Depreciation
1,716,870 1,560,991
Fair value gain on derivatives
(319,477)
(16,283)
Gain on disposal of plant and equipment
(1,449,790)
(40,830)
Impairment loss on investment in associates
113,654
53,625
Impairment loss on goodwill
16,931,227 2,209,048
Impairment loss on investment property
1,637,368
–
Loss on disposal of an associate
–
8,636
Net fair value gain on contingent consideration payable
– (194,076)
Net finance costs
1,314,612 815,975
Share of loss from associates, net of tax
–
51,212
Operating cash flows before changes in working capital
(2,679,726) (1,234,367)
Changes in:
- Inventories
1,436,965 (2,144,122)
- Development properties
2,126,386 1,070,672
- Trade and other receivables
838,676 1,240,733
- Trade and other payables
2,817,249
374,771
Cash generated from/(used in) operations
4,539,550 (692,313)
Tax paid
(507,601)
(588,118)
Net cash from/(used in) operating activities
4,031,949 (1,280,431)
Group
Note 2016
2015
$
$
Cash flows from investing activities
Acquisition of property, plant and equipment
12 (2,026,339) (2,239,772)
Acquisition of subsidiary, net of cash acquired
28
– (2,923,986)
Payment of contingent consideration
17
(78,924)
(450,000)
Payment of deferred consideration
28(i) (2,000,000)
–
Interest received
7,038
2,741
Proceeds from disposal of plant and equipment
14,642,463
47,732
Proceeds from disposal of an associate
– 121,250
Net cash from/(used in) investing activities
10,544,238 (5,442,035)
Cash flows from financing activities
Acquisition of non-controlling interests
(101,863)
–
Contributions from non-controlling interests
– 183,762
Dividends paid to owners of the Company
– (1,523,740)
Interest paid
(1,603,450) (1,679,104)
Payment of finance lease liabilities
(140,414)
(173,030)
Proceeds from loans and borrowings
20,910,176 15,647,902
Repayment of loans from directors of a subsidiary
– (2,914,459)
Repayment of loans and borrowings
(39,602,450) (5,109,379)
Net cash (used in)/from financing activities
(20,538,001)
4,431,952
Net decrease in cash and cash equivalents
(5,961,814) (2,290,514)
Cash and cash equivalents at beginning of the year
13,731,705 15,800,623
Effect of exchange rate fluctuations on cash held
12,398 221,596
Cash and cash equivalents at end of the year
12 7,782,289 13,731,705
* See Note 12 for disclosure on significant non-cash transaction
