SEO Version
Note
2012
2011
S$
S$
Cash flows from operating activities
Profit before taxation
24,469,978
23,453,397
Adjustments for:
Depreciation expenses
9
3,614,552
3,892,130
Amortisation expenses
10
738,932
837,514
Loss on disposal of plant and equipment
6
52,073
322,031
Write off of intangible assets
6
50,000
8,621
Interest income
(220,291)
(197,183)
Operating profit before working capital changes
28,705,244
28,316,510
Decrease/(increase) in inventories
12,321
(22,942)
(Increase)/decrease in trade receivables
(520,924)
103,029
Increase in other receivables, deposits and prepayments
(660,350)
(688,534)
(Increase)/decrease in non-current deposits
(103,930)
14,899
Increase in trade payables and other payables and fees received in advance
2,115,848
3,590,229
Cash generated from operations
29,548,209
31,313,191
Interest received
215,767
173,355
Income tax paid
(4,198,429)
(3,527,056)
Net cash generated from operating activities
25,565,547
27,959,490
Cash flows from investing activities
Additions of intangible assets
10
(565,581)
(527,600)
Acquisition of plant and equipment
9
(2,385,384)
(3,034,078)
Proceeds from disposal of plant and equipment
212,725
210,297
Net cash used in investing activities
(2,738,240)
(3,351,381)
Cash flows from financing activities
Decrease in receivables from director-related company
–
164,272
Dividends paid
(8,000,000)
(8,000,000)
Issuance of new ordinary shares due to incorporation
–
100
Net cash used in financing activities
(8,000,000)
(7,835,628)
Net increase in cash and cash equivalents
14,827,307
16,772,481
Cash and cash equivalents at beginning of the year
79,628,861
62,856,380
Cash and cash equivalents at end of the year
17
94,456,168
79,628,861
The accompanying accounting policies and explanatory notes form an integral part of the consolidated financial statements.
CONSOLIDATED STATEMENT OF CASH FLOWS
For the financial year ended 31 December 2012
4
Overseas Education Limited AR 2012
Investing In Education
W130220-Overseas Education Limited AR 2012 Financial p25-92.indd 47
26/3/13
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