60
LIPPO MALLS INDONESIA RETAIL TRUST ANNUAL REPORT 2014
Statement of Cash Flows
Year Ended 31 December 2014
Group
2014
2013
$’000
$’000
Cash flows from operating activities
Total return before tax
89,915
81,095
Adjustments for:
Interest income
(2,925)
(1,687)
Interest expense
29,767
24,835
Amortisation of borrowing costs
4,642
5,767
Depreciation of plant and equipment
726
571
(Increase)/decrease in fair values of investment properties
(4,536)
24,022
Fair value gains on derivatives financial instruments
(221)
(9,492)
Unrealised foreign exchange adjustment losses/(gains)
1,363
(1,627)
Net effect of exchange rate changes
(1,350)
11,743
Manager’s management fees settled in units
5,040
5,734
Operating cash flows before changes in working capital
122,421
140,961
Trade and other receivables, current
(5,000)
4,896
Other assets, current
(35,582)
2,871
Trade and other payables, current
42,394
1,882
Other liabilities, current
3,954
(1,083)
Net cash flows from operations before tax
128,187
149,527
Income tax paid
(26,745)
(27,890)
Net cash flows from operating activities
101,442
121,637
Cash flows from investing activities
Acquisition of an investment property
(1)
(317,000)
–
Capital expenditure on investment properties
(5,654)
(3,741)
Purchase of plant and equipment
(2,232)
(1,498)
Interest received
2,925
1,687
Net cash used in investing activities
(321,961)
(3,552)
Cash flows from financing activities
Repayment of bank borrowings
(147,500)
–
Proceeds from bank borrowings
155,000
–
Net proceeds from issuance of new units
(1)
38,145
97,743
Distributions to unitholders
(64,224)
(75,376)
Other financial liabilities
(2)
(4,979)
(1,814)
Other liabilities, non-current
5,685
(21,249)
Interest paid
(29,767)
(24,835)
Proceeds from notes issued under EMTN programme
–
150,000
Net cash flows (used in)/from financing activities
(47,640)
124,469
The accompanying notes form an integral part of these financial statements.
