|
For the Year Ended December 31, 2009
| |
|
U.S. $ 000'S |
| |
|
2009 |
|
2008 |
| Profit for the year |
|
61,842 |
|
58,302 |
| Net finance income |
|
(1,055) |
|
(6,283) |
| Share of losses of associates |
|
13,558 |
|
5,426 |
| Share of losses of joint ventures |
|
2,087 |
|
- |
| (Gain) loss from investment portfolio |
|
(50,889) |
|
26,594 |
| Loss (gain) from sale of property, plant & equipment
|
|
67 |
|
(3,865) |
| Recovery of doubtful loans |
|
(9,000) |
|
(10,553) |
| Provision (recovery) for litigations and other contingencies
|
|
989 |
|
(51,150) |
| Gain from sale of an impaired investment |
|
- |
|
(2,678) |
| Other non cash revenues |
|
(4,221) |
|
- |
| Other non cash expenses |
|
9,135 |
|
4,314 |
| |
|
22,513 |
|
20,107 |
| Accounts receivable and other receivable |
|
(9,038) |
|
(4,635) |
| Other current assets |
|
(5,902) |
|
(1,884) |
| Accounts payable |
|
(3,942) |
|
744 |
| Provisions and other current liabilities |
|
78 |
|
(133) |
| Net cash flows from operating activities |
|
3,709 |
|
14,199 |
| Purchase of available-for-sale investments |
|
(110,823) |
|
(149,619) |
| Sale of available-for-sale investments |
|
113,098 |
|
25,636 |
| Purchase of property, plant and equipment |
|
(17,090) |
|
(15,268) |
| Sale of property, plant and equipment |
|
- |
|
22,923 |
| Purchase of investment properties |
|
(2,251) |
|
- |
| Joint ventures |
|
(669) |
|
(23,481) |
| Purchase of investment in an associate and a subsidiary
|
|
(4,729) |
|
(10,750) |
| Projects in progress |
|
(113) |
|
(180) |
| Loans granted |
|
(9,610) |
|
(3,440) |
| Collections from loans granted |
|
9,000 |
|
18,553 |
| Sale of an impaired investment |
|
- |
|
2,678 |
| Dividends received |
|
7,372 |
|
5,589 |
| Interest received from bank deposits and loans |
|
2,749 |
|
6,889 |
| Cash flow from acquisition of subsidiaries |
|
939 |
|
- |
| Net cash flows used in investing activities |
|
(12,127) |
|
(120,470) |
| Cash dividends paid |
|
- |
|
(55,000) |
| Payments of finance lease obligations |
|
(17,451) |
|
(664) |
| Proceeds from short term loans |
|
8,000 |
|
- |
| Repayments of short term loans |
|
- |
|
(57) |
| Finance costs paid |
|
(1,935) |
|
(777) |
| Shareholder withdrawals |
|
- |
|
(9,929) |
| Net cash flows used in financing activities |
|
(11,386) |
|
(66,427) |
| Net decrease in cash and cash equivalents |
|
(19,804) |
|
(172,698) |
| Cash and cash equivalents, beginning of year |
|
183,756 |
|
356,197 |
| Foreign currency translations difference |
|
(779) |
|
257 |
| Cash and cash equivalents, end of year |
|
163,173 |
|
183,756 |
The attached notes 1 to 37 form part of these consolidated financial statements. |
