Period from
1st November,
Year ended 1996 to
31st December, 31st December,
1998 1997
Notes HK$'000 HK$'000
NET CASH INFLOW FROM
OPERATING ACTIVITIES 22(a) 60,411 73,860
RETURNS ON INVESTMENTS AND
SERVICING OF FINANCE
Interest received 1,195 2,604
Interest paid (6,878) (8,282)
Interest element of finance lease
rental payments (35) (78)
Dividends paid -- (21,687)
-------- --------
Net cash outflow from returns on
investments and servicing of finance (5,718) (27,443)
-------- --------
TAXATION
Hong Kong profits tax paid (239) (7,637)
PRC tax paid (128) --
-------- --------
(367) (7,637)
-------- --------
INVESTING ACTIVITIES
Purchases of fixed assets (26,464) (78,266)
Proceeds from disposals of fixed assets 587 124
-------- --------
Net cash outflow from investing activities (25,877) (78,142)
-------- --------
NET CASH INFLOW/(OUTFLOW) BEFORE
FINANCING ACTIVITIES 28,449 (39,362)
-------- --------
FINANCING ACTIVITIES 22(b)
Capital element of finance lease
rental payments (204) (476)
Repayment of mortgage loan (3,697) (4,313)
Issue of share capital -- 2,766
Issue of share warrants -- 25,800
Warrants issue expenses -- (1,442)
-------- --------
Net cash inflow/(outflow) from
financing activities (3,901) 22,335
-------- --------
INCREASE/(DECREASE) IN CASH AND
CASH EQUIVALENTS 24,548 (17,027)
Cash and cash equivalents at
beginning of year/period (21,333) (4,306)
-------- --------
CASH AND CASH EQUIVALENTS AT OF YEAR/PERIOD 3,215 (21,333)
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ANALYSIS OF BALANCES OF CASH AND
CASH EQUIVALENTS
Cash and bank balances 42,826 49,467
Trust receipt loans (39,611) (70,800)
-------- --------
3,215 (21,333)
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