78
79
BAKER TECHNOLOGY LIMITED ANNUAL REPORT 2012
BAKER TECHNOLOGY LIMITED ANNUAL REPORT 2012
for the financial year ended 31december 2012
consolidatedcash
flowstatement
for the financial year ended 31december 2012
Attributable to owners of the Company
Share
capital
Capital
reserve
(1)
Retained
earnings
Fair Value
reserve
Total
reserves
Total
equity
Company
(Note 26)
$
$
$
$
$
$
2011
At 1 January 2011
30,528,621 2,344,269 38,939,340
– 41,283,609 71,812,230
Profit for the year
–
–
153,532
–
153,532 153,532
Other comprehensive income
for the year
Net loss on fair value
changes of available-for-
sale investment
–
–
– (7,500,000)
(7,500,000)
(7,500,000)
Total comprehensive income
for the year
–
–
153,532 (7,500,000)
(7,346,468)
(7,346,468)
Contributions by and
distributions to owners
Dividends on ordinary
shares (Note 33)
–
– (20,997,099)
– (20,997,099) (20,997,099)
Issuance of new shares from
conversion of warrants
5,524,822
–
–
–
– 5,524,822
At 31December 2011
36,053,443 2,344,269 18,095,773 (7,500,000)
12,940,042 48,993,485
(1)
Capital reserve arose from restructuring exercise in prior years.
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
2012
2011
$
$
Cash flows from operating activities
Profit before tax
84,799,158 10,629,701
Adjustments for :
Depreciation of property, plant and equipment
1,413,853
1,716,588
Loss on disposal of property, plant and equipment
326
85,044
Recognition of deferred gain on disposal of subsidiary
(58,237,148)
–
Gain on disposal of associated company
(10,894,451)
–
Interest income
(509,738)
(215,270)
Interest expense
121,913
20,621
Share of results of associates
(586,800)
246,906
Inventories written-down
–
3,300
Operating cash flows beforeworking capital changes
16,107,113 12,486,890
(Increase)/decrease in inventories
(12,804,767)
2,205,405
Decrease/(increase) in gross amount due from customers for contract
work-in-progress
5,716,209 (30,081,119)
(Decrease)/increase in gross amount due to customers for contract
work-in-progress
(5,273,296)
3,276,474
Increase in trade and other receivables
(7,926,597)
(3,648,565)
Decrease/(increase) in prepaid operating expenses
11,941
(12,465)
(Increase)/decrease in pledged deposits
(4,567,427)
955,245
(Decrease)/increase in trade and other payables
(12,385,678)
16,256,529
Cash flows (used in)/from operations
(21,122,502)
1,438,394
Interest paid
(121,913)
(20,621)
Interest received
509,738
215,270
Income tax paid
(2,622,863)
(3,017,062)
Net cash flows used in operating activities
(23,357,540)
(1,384,019)
statementsof
changes inequity
