Cathay Pacific 1999 Annual Report Download - page 34

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38 CATHAY PACIFIC AIRWAYS LIMITED ANNUAL REPORT 1999
The notes on pages 40 to 63 form part of these accounts.
Consolidated Cash Flow Statement
for the year ended 31st December 1999
1999 1998 1999 1998
Note
HK$M HK$M US$M US$M
Net cash inflow from operating activities
23
6,625 4,066 849 521
Returns on investments and servicing of finance
Interest received 415 387 53 50
Dividends received from associated companies 48 89 612
Net interest paid (1,790) (1,407) (230) (181)
Dividends paid – to shareholders (339) (694) (43) (89)
– to minority interests (87) (31) (11) (4)
Net cash outflow from returns on investments
and servicing of finance (1,753) (1,656) (225) (212)
Tax paid (94) (75) (12) (10)
Investing activities
Sales of fixed assets 13 52 27
Payments for fixed assets
24
(2,651) (5,074) (340) (650)
Net decrease in long-term receivables 69 124 816
Sales of funds with investment managers 464 1,354 60 174
Sales/(purchase) of other liquid investments 222 (660) 28 (85)
Receipts from sale of investments 482 229 62 29
Net increase in short-term deposits maturing
beyond three months (38) (85) (5) (11)
Purchase of minority interests in a subsidiary company (32) –(4) –
Repayment of loans from associated companies 3(121) 1(15)
Proceeds from sale of interest in a
subsidiary company
23(c)
109 –14 –
Net cash outflow from investing activities (1,359) (4,181) (174) (535)
Net cash inflow/(outflow) before financing 3,419 (1,846) 438 (236)
Financing
New financing
25
1,069 2,917 137 374
Purchases of bonds and security deposits placed
25
(2,552) (2,391) (327) (307)
Loan and finance lease repayments
25
(2,458) (1,690) (315) (217)
Net cash benefit from financing arrangements 196 749 25 96
Purchase of Company’s shares –(19) –(2)
Net cash outflow from financing (3,745) (434) (480) (56)
Decrease in cash and cash equivalents (326) (2,280) (42) (292)
Cash and cash equivalents at beginning of the year
26
2,119 4,381 272 562
Effect of exchange differences (7) 18 (1) 2
Cash and cash equivalents at end of the year
26
1,786 2,119 229 272
The US$ figures are for information only and are translated at HK$7.8.