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Righteous (Holdings) Limited

Consolidated Cash Flow Statement
For the year ended August 31,1998
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                                                              1998     1997
                                                     Note  HK$'000  HK$'000
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NET CASK OUTFLOW FROM OPERAflNG ACTIVITIES            21   (27,119)  (8,056)
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RETURNS ON INVESTMENTS AND
   SERVICING OF FINANCE
Interest received                                            4,759    2,646
Interest paid on bank borrowings                              (537)     (12)
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NET CASH INFLOW FROM RETURNS ON INVESTMENTS
   AND SERVICING OF FINANCE                                  4,222    2,634
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TAXATION
Hong Kong Profits Tax paid                                    (283)       -
Hong Kong Profits Tax refunded                                  13    6,145
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                                                              (270)   6,145
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INVESTING ACTIVITIES
Purchase of investment properties                          (45,632)       -
Purchase of licence rights                                 (13,364)       -
Purchase of fixed assets                                    (4,547)  (2,757)
Purchase of listed investments                                (359)       -
Proceeds from disposal of an investment property            10,424   10,718
Decrease in pledged bank deposits                              588    4,800
Proceeds from disposal of listed investments                   551        -
Proceeds from disposal of fixed assets                          34      159
Proceeds from disposal of associated companies                  30        -
Purchase of long term investment                                 -     (350)
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NET CASH (OUTFLOW) INFLOW FROM
   INVESTING ACTIVITIES                                    (52,275)  12,570
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(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS           (75,442)  13,293
CASH AND CASH EQUIVALENTS AT THE
   BEGINNING OF THE YEAR                                    67,507   54,154
EFFECT OF FOREIGN EXCHANGE RATE CHANGES                          -       60
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CASH AND CASH EQUIVALENTS AT
   THE END OF THE YEAR                                      (7,935)  67,507
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ANALYSIS OF CASH AND CASH EQUIVALENTS
Bank balances, deposits and cash                             9,774   68,848
Less: pledged bank deposits                                   (753)  (1,341)
Trust receipt loans                                        (14,952)       -
Bank overdraft                                              (2,004)       -
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                                                            (7,935)  67,507
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The notes on pages 28 to 48 form part of these accounts.


Source : Righteous (Holdings) Limited
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