Gardens By the Bay 2019/2020

FINANCIAL STATEMENTS 104 STATEMENT OF CASH FLOWS For the financial year ended 31 March 2020 2020 2019 $ $ Operating activities Deficit before government grants (15,183,971) (8,639,821) Adjustments for: Sponsorships and donations (6,573,041) (5,038,488) Depreciation expense of property, plant and equipment 9,045,058 6,421,466 Depreciation expense of right-of-use assets 4,261,156 - Loss on disposal of property, plant and equipment 2,360 - Interest income (2,915,184) (2,020,664) Interest expense on lease liabilities 137,124 - Deficit before movements in working capital (11,226,498) (9,277,507) Trade receivables 415,262 156,551 Other receivables (420,998) (649,066) Trade and other payables (3,333,546) (5,768,884) Contract liabilities 1,406,856 4,221,669 Cash used in operations (13,158,924) (11,317,237) Interest received 2,555,564 1,477,470 Interest paid (137,124) - Net cash used in operating activities (10,740,484) (9,839,767) Investing activities Proceeds from sale of property, plant and equipment 374 - Purchase of property, plant and equipment (12,508,137) (22,970,682) Net cash used in investing activities (12,507,763) (22,970,682) Financing activities Government grants received 38,928,462 47,009,444 Sponsorships and donations received 6,588,922 2,977,024 Repayment of lease liabilities (4,221,740) - Net cash from financing activities 41,295,644 49,986,468 Net increase in cash and cash equivalents 18,047,397 17,176,019 Cash and cash equivalents at beginning of year 145,445,009 128,268,990 Cash and cash equivalents at end of year 163,492,406 145,445,009 See accompanying notes to financial statements.