Singapore Airlines 2003 Annual Report Download - page 73
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71
SIA Annual Report 02/03
Cash Flow Statements
For the financial year ended 31 March 2003 (in $ million) (continued)
The notes on pages 72 to 107 form an integral part of these financial statements.
The acquisition of 57.1% equity interest in Country Foods Pte Ltd ("CF") by Singapore Airport Terminal Services Limited
("SATS") has been shown in the statement as a single item. The effects on the individual assets and liabilities are set
out below.
2002-03
Fixed assets 2.9
Stocks 0.5
Trade debtors 2.0
Cash and bank balances 1.9
Creditors (2.6)
Net identifiable assets and liabilities acquired 4.7
Goodwill on acquisition 1.3
Minority interest (2.0)
Cash consideration paid 4.0
Less:
Cash acquired (1.9)
Net cash outflow 2.1
Subsequent acquisition of an additional 9.6% equity interest was by subscription of new shares in CF. The additional
investment of $2.0 million into the subsidiary has no impact on the Group’s cash flow statement.