80
81
BAKER TECHNOLOGY LIMITED ANNUAL REPORT 2012
BAKER TECHNOLOGY LIMITED ANNUAL REPORT 2012
for the financial year ended 31december 2012
notestothe
financialstatements
consolidatedcash
flowstatement
for the financial year ended 31december 2012
2012
2011
$
$
Cash flows from investing activities :
Dividend received
–
101,170
Purchase of property, plant and equipment
(394,317)
(381,359)
Net proceeds from disposal of associated company
21,850,674
–
Purchase of available-for-sale investment
(4,412,595)
(27,618,028)
Net cash flows from/(used in) investing activities
17,043,762 (27,898,217)
Cash flows from financing activities
Net proceeds from conversion of warrants
11,720,257
5,524,822
Net proceeds fromwarrant issue
2,543,170
–
Dividends paid on ordinary shares
(7,002,949)
(20,997,099)
Repayment of obligations under finance leases
–
(99,048)
Proceeds from loans and borrowings
17,666,533
–
Repayment of loans and borrowings
(13,988,484)
–
Net cash flows from/(used in) in financing activities
10,938,527 (15,571,325)
Net increase/(decrease) in cash and cash equivalents
4,624,749 (44,853,561)
Cash and cash equivalents at beginning of financial year
169,276,813 214,130,374
Cash and cash equivalents at end of financial year (Note 22)
173,901,562 169,276,813
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
1. Corporate information
Baker Technology Limited (the “Company”) is a limited liability company incorporated and domiciled in
Singapore and is listed on the Singapore Exchange Securities Trading Limited (SGX-ST).
The registered office and principal place of business of the Company is at 6 Pioneer Sector 1, Singapore
628418.
The principal activity of the Company is investment holding. The principal activities of the subsidiaries and
associates are disclosed inNotes 13 and 14 to the financial statements, respectively.
2. Summaryof significant accounting policies
2.1 Basis of preparation
The consolidated financial statements of theGroupand the balance sheet and statement of changes in equity of
theCompany have been prepared in accordancewith Singapore Financial Reporting Standards (“FRS”).
The financial statements have been prepared on a historical cost basis, except as disclosed in the accounting
policies below, and are presented in Singapore Dollars (S$ or $).
The accounting policies adopted are consistent with those of the previous financial year except in the current
financial year, the Group has adopted all the new and revised standards and Interpretations of FRS (INT FRS)
that areeffective for annual periods beginningonor after 1 January2012. Theadoptionof these standards and
interpretations did not have any effect on the financial performance or position of theGroupand theCompany.
2.2 Standards issued but not yet effective
The Group has not adopted the following standards and interpretations that have been issued but not yet
effective:
Description
Effective for annual
periods beginning
on or after
Amendments to FRS 1 Presentation of Items of Other Comprehensive Income
1 July 2012
Revised FRS 19 Employee Benefits
1 January 2013
FRS 113 Fair ValueMeasurements
1 January 2013
Amendments to FRS 107Disclosure –Offsetting Financial Assets
and Financial Liabilities
1 January 2013
