1998 1997
Notes $'000 $'000
Net cash inflow from operating activities 25.a 193,817 28,299
__________________________________________________________________________
Returns on investments and servicing of finance
Interest received 19,183 1,987
Interest paid (4,922) (1,763)
Payment to minority shareholders (2,087) -
__________________________________________________________________________
Net cash inflow from returns on
investments and servicing of finance 12,174 224
__________________________________________________________________________
Taxation
Hong Kong profits tax paid (4,270) (185)
Overseas tax paid (5,156) -
__________________________________________________________________________
(9,426) (185)
Investing activities
Purchases of fixed assets (4,938) (1,246)
Increase in investment properties (109,134) -
(Increase) Decrease in properties under
development for long-term investment (320,664) 42,693
Increase in other investment (66,074) -
__________________________________________________________________________
(500,810) 41,447
__________________________________________________________________________
Net cash (outflow) inflow before financing (304,245) 69,785
__________________________________________________________________________
Financing 25.b
Proceeds from issue of shares 642,692 -
Increase in enterprise expansion and reserve fund 10,480 1,364
Decrease in enterprise expansion and reserve fund (779) -
Inception of short-term loans 128,972 32,056
Repayment of short-term loans (32,056) (8,384)
Repayment of long-term bank loans - (2,325)
Decrease in amounts due to related companies (41,221) (25,566)
(Decrease) Increase in amounts due to directors (42,036) 3,486
__________________________________________________________________________
666,052 631
__________________________________________________________________________
Increase in cash and cash equivalents 361,807 70,416
Cash and cash equivalents, beginning of year 82,362 11,946
__________________________________________________________________________
Cash and cash equivalents, end of year 444,169 82,362
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