SEO Version
Group
1 January 29 October
2012 to
2010 to
31 December 31 December
Note
2012
2011
$’000
$’000
Cash fows from operating activities
Total return for the year/period after taxation and before distribution
74,444
88,242
Adjustments for:
Amortisation of intangible assets
1,331
1,469
Manager’s fees paid/payable in Units
A
4,393
4,058
Net change in fair value of fnancial derivatives
1,553
4,593
Net change in fair value of investment properties
(25,316)
(39,376)
Net fnance costs
17,057
11,889
73,462
70,875
Change in trade and other receivables
(1,354)
(2,019)
Change in trade and other payables
(13,132)
34,676
Cash generated from operating activities
58,976
103,532
Ta’widh (compensation on late payment of rent) received
41
31
Net cash from operating activities
59,017
103,563
Cash fows from investing activities
Purchase of investment properties
(61,740)
(1,004,511)
Intangible assets
–
(6,057)
Finance income received from Shari’ah compliant deposits
156
107
Net cash used in investing activities
(61,584)
(1,010,461)
Cash fows from fnancing activities
Proceeds from issue of new Units
B
–
664,440
Proceeds from borrowings
B
258,563
364,837
Proceeds from issue of Convertible Sukuk
B
80,000
–
Repayment of borrowings
B
(270,563)
–
Issue expenses paid
–
(28,222)
Transaction costs paid
(7,133)
(6,907)
Financing costs paid
(13,395)
(8,692)
Distributions paid
(57,762)
(46,736)
Net cash (used in)/from fnancing activities
(10,290)
938,720
Net (decrease)/increase in cash and cash equivalents
(12,857)
31,822
Cash and cash equivalents at beginning of the year/period
31,822
–
Cash and cash equivalents at end of the year/period
18,965
31,822
Consolidated Statement
of Cash Flows
Year ended 31 December 2012
The accompanying notes form an integral part of these fnancial statements.
89
SABANA REIT
Annual Report 2012
Powered by FlippingBook Publisher