Page 36 - Nanyang Technological University

CONSOLIDATED STATEMENT OF
CASH FLOWS

Year ended 31 March 2016

Note 2016 2015

$’000 $’000

Group

Operating activities (834,552) (560,939)
Deficit before grants from ministries
Adjustments for: (337,094) (296,943)
Research grant income
Depreciation of property, plant and equipment 163,802 148,479
Amortisation of intangible assets
Amortisation of prepaid lease 271 -
Loss on disposal of property, plant and equipment
Loss/(profit) on investments 1,538 1,465
Deferred capital grants amortised (non-ministry)
Interest income 447 381
Share of joint venture’s results
98,337 (146,821)

(23,681) (19,703)

(5,704) (4,721)

70 111

(936,566) (878,691)

Changes in working capital:

Other payables (14,888) 91,592

Trade and other receivables 59,140 (135,720)

Deferred tuition and other fees 5,841 6,375

Loans (extended to)/repaid by students (197) 454

Cash generated from operating activities (886,670) (915,990)

Donations received for Endowment Fund 46,976 42,885

Income taxes paid (292) (330)

Cash flows used in operating activities (839,986) (873,435)

Investing activities

Acquisition of property, plant and equipment (469,613) (377,025)

Acquisition of intangible assets (1,950) -

Purchase of financial assets (312,580) (519,474)

Proceeds from sale of financial assets 322,400 133,223

Investment in joint venture (256) (253)

Increase/(decrease) in money market funds and

cash held by custodian banks 13 60,783 (34,950)

Interest received 4,842 4,004

Cash flows used in investing activities (396,374) (794,475)

34 NTU ANNUAL REPORT 2016