| |
| SFC FINANCIAL STATEMENTS |
| ................................................ |
| |
| |
| Securities and Futures Commission |
| Cash Flow Statement |
| For the year ended 31st March 1998 (Expressed in HK'000) |
| |
| l.................................................................................................................................................... |
| Net cash outflow from operating activities |
a |
$ 267,913 |
|
$ 45,369 |
|
| |
|
........................ |
|
........................ |
|
| Returns on investments and servicing of finance |
|
|
|
|
|
| Interest received |
|
$ 56,975 |
|
$ 38,959 |
|
| |
|
........................ |
|
........................ |
|
| Investing activities |
|
|
|
|
|
| Payments to acquire dated securities |
|
$ (537,898 |
) |
$ (294,271 |
) |
| Receipts from redemption of dated securities |
|
245,000 |
|
212,446 |
|
| Payments to acquire fixed assets |
|
(15,655) |
|
(8,256 |
) |
| Receipts from disposal of fixed assets |
|
93 |
|
6 |
|
| |
|
|
|
|
|
| Net cash outflow from investing activities |
|
$ (308,460 |
) |
$ (90,075 |
) |
| |
|
........................ |
|
........................ |
|
| Increase/(decrease) in cash and cash equivalents |
|
$ 16,428 |
|
$ (5,747 |
) |
| Cash and cash equivalents at beginning of the year |
|
37,247 |
|
42,994 |
|
| |
|
|
|
|
|
| Cash and cash equivalents at end of the year |
b |
$ 53,675 |
|
$ 37,247 |
|
| |
|
=========== |
|
=========== |
|
| |
|
|
|
|
|
a Reconciliation of surplus of income over expenditure to net cash inflow from operating
activities: |
|
| |
|
|
|
|
|
| |
|
1998 |
|
1997 |
|
| l.................................................................................................................................................... |
| Surplus of income over expenditure for the year |
|
$ 311,885 |
|
$ 61,112 |
|
| Interest income |
|
(60,439 |
) |
(40,567 |
) |
| Premium on investments |
|
1,355 |
|
622 |
|
| Discount on investments |
|
(467 |
) |
(283 |
) |
| Depreciation charges |
|
9,263 |
|
6,768 |
|
| Profit on disposal of fixed assets |
|
(81 |
) |
(6 |
) |
Decrease/(increase) in debtors, deposits and
prepayments |
|
3,076 |
|
(10,768 |
) |
| Increase in creditors and accrued charges |
|
885 |
|
27,546 |
|
| Increase in deferred income |
|
2,436 |
|
945 |
|
| |
|
|
|
|
|
| Net cash inflow from operating activities |
|
$ 267,913 |
|
$ 45,369 |
|
| |
|
=========== |
|
=========== |
|
| |
|
|
|
|
|
| b Analysis of the balance of cash and cash equivalents as shown in the balance sheet: |
|
| |
|
|
|
|
|
| Bank deposits |
|
$ 52,967 |
|
$ 36,541 |
|
| Cash at bank and in hand |
|
708 |
|
706 |
|
| |
|
|
|
|
|
| |
|
$ 53,675 |
|
$ 37,247 |
|
| |
|
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|
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|
| |
|
|
|
|
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