1999 1998
Notes HK$ HK$
NET CASH INFLOW FROM OPERATING
ACTIVITIES 23 222,174,849 209,628,897
------------ ------------
RETURNS ON INVESTMENTS AND
SERVICING OF FINANCE
Dividends paid (49,342,719) (73,989,038)
Interest paid (10,060,624) (8,593,255)
Dividends paid to minority
shareholders of subsidiaries (6,500,000) (11,600,000)
Interest received 6,190,761 4,744,709
Dividends received - 22,857
------------ ------------
NET CASH OUTFLOW FROM RETURNS ON
INVESTMENTS AND SERVICING OF FINANCE (59,712,582) (89,414,727)
------------ ------------
TAXATION
Hong Kong Profits Tax paid (23,552,889) (15,513,876)
Hong Kong Profits Tax refunded 1,622,804 -
------------ ------------
(21,930,085) (15,513,876)
------------ ------------
INVESTING ACTIVITIES
Purchase of fixed assets (82,629,524) (126,443,251)
Acquisition of a subsidiary 24 (1,484,604) -
Repayment from (advances to)
jointly controlled entities 6,996,748 (9,247,246)
Proceeds on disposal of fixed
assets 3,596,530 291,405
Repayment from an associated
company 3,186,852 -
Investment in jointly controlled
entities - (5,070,536)
Deposits for purchase of fixed
assets - (4,515,411)
Proceeds on disposal of listed
investments - 2,405,229
------------ ------------
NET CASH OUTFLOW FROM INVESTING
ACTIVITIES (70,333,998) (142,579,810)
------------ ------------
NET CASH INFLOW (OUTFLOW) BEFORE
FINANCING 70,198,184 (37,879,516)
------------ ------------
FINANCING 25
Repayment of bank borrowings (78,775,069) (108,836,108)
Repayment of obligations under
finance leases (2,695,143) (3,099,934)
(Repayment to) loan from a
minority shareholder of a
subsidiary (381,000) 600,000
New bank borrowings raised 14,190,000 146,481,910
Proceeds from issue of new shares - 6,201,700
Refinancing of fixed assets - 5,357,296
------------ ------------
NET CASH (OUTFLOW) INFLOW FROM
FINANCING (67,661,212) 46,704,864
------------ ------------
INCREASE IN CASH AND CASH
EQUIVALENTS 2,536,972 8,825,348
CASH AND CASH EQUIVALENTS AT THE
BEGINNING OF THE YEAR 118,560,941 109,833,458
EFFECT OF FOREIGN EXCHANGE RATE
CHANGES 70,850 (97,865)
------------ ------------
CASH AND CASH EQUIVALENTS AT THE
END OF THE YEAR
representing bank balances,
deposits and cash 121,168,763 118,560,941
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