Cash flows from operating activities

Profit before taxation

147,839

121,141

Adjustments for:

– Depreciation and amortisation

11(b)

23,544

21,220

– Expected credit losses

8

91,905

103,094

– Impairment losses

9

8,822

1,704

– Net valuation loss on investment properties

758

66

– Net valuation loss/(gain) on investments

16,627

(297)

– Share of profits of associates and joint ventures, net of tax

(12,866)

(17,563)

– Interest expenses on debts instruments issued

5(a)

35,399

31,453

– Finance income

10

(1,364)

(2,036)

– Finance costs

10

9,700

9,433

– Net gain on investments in financial assets

(50,220)

(19,508)

257,375

247,314

Changes in working capital

Decrease in deposits with central banks and non-bank financial institutions

6,764

3,870

Increase in placements with banks and non-bank financial institutions

(100,557)

(24,368)

Increase in trade and other receivables

(52,024)

(4,967)

(Increase)/decrease in contract assets

(8,430)

212

Increase in inventories

(8,587)

(33,208)

Decrease in financial assets held under resale agreements

89,735

34,417

Increase in loans and advances to customers and other parties

(407,930)

(499,357)

Decrease/(increase) in investments in financial assets held for trading purposes

12,417

(20,280)

Decrease in cash held on behalf of customers

26,986

–

Decrease/(increase) in other operating assets

7,260

(47,721)

(Decrease)/increase in deposits from banks and non-bank financial institutions

(68,780)

9,780

(Decrease)/increase in placements from banks and non-bank financial institutions

(7,740)

31,230

Increase/(decrease) in financial liabilities at fair value through profit or loss

15,658

(8,895)

Increase in trade and other payables

3,401

21,946

(Decrease)/increase in contract liabilities

(776)

5,397

Increase in financial assets sold under repurchase agreements

141,960

24,785

Increase in deposits from customers

391,773

261,103

Decrease in borrowing from central banks

(80,438)

(42,459)

Increase in customer brokerage deposits

8,158

–

Increase in other operating liabilities

4,123

11,360

Increase in employee benefits payables

3,874

2,372

Cash generated from/(used in) operating activities

227,716

(17,738)

Cash flows from investing activities

Proceeds from disposal and redemption of financial investments

3,031,389

3,788,827

Proceeds from disposal of fixed assets, intangible assets and other assets

1,232

2,204

Proceeds from disposal of associates and joint ventures

1,574

2,355

Net cash payment for from disposal of subsidiaries

(1)

(242)

Dividends received from equity investments, associates and joint ventures

7,246

7,103

Payments for purchase of financial investments

(3,146,053)

(4,041,787)

Payments for additions of fixed assets, intangible assets and other assets

(23,576)

(24,494)

Net cash received/(payment) for acquisition of subsidiaries

192,638

(289)

Cash flows from financing activities

Capital injection received from non-controlling interests

130

167

Transaction with non-controlling interests

(6)

801

Proceeds from new bank and other loans

55(c)

199,159

168,251

Proceeds from new debt instruments issued

55(c)

1,057,373

1,092,327

Repayment of bank and other loans and debt instruments issued

55(c)

(1,275,180)

(1,028,186)

Issue of other equity instruments by subsidiaries

55(d)

5,417

52,813

Principal and interest elements of lease payment

55(c)

(6,277)

(5,978)

Interest paid on bank and other loans and debt instruments issued

55(c)

(48,701)

(41,084)

Dividends paid to non-controlling interests

(22,021)

(11,302)

Dividends paid to ordinary shareholders of the Company

15

(19,083)

(15,651)

Net increase/(decrease) in cash and cash equivalents

140,747

(101,927)

Cash and cash equivalents at 1 January

360,953

457,975