URA

98 CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 March 2018 (expressed in Hong Kong Dollars) Note 2018 2017 $’000 $’000 $’000 $’000 Cash flows from operating activities Operating surplus before income tax 12,037,862 3,142,657 Adjustments for:  Interest income 5(b) (319,899) (244,444)  Depreciation 6(c) 56,128 44,705  (Gain)/loss on disposal of property,   plant and equipment 5(b) (40) 2,479  Net foreign exchange gain (14,448) (1,164)  Net loss on investments at fair value   through profit or loss 5(b) 2,511 734  Write back of provision for impairment on   properties and committed projects (525,567) (830,796) Operating surplus before working capital changes 11,236,547 2,114,171  Decrease in receivables from property developers – 1,716,000  Changes in balances with joint development   projects 310,000 555,543  Increase in properties under development (7,424,694) (481,615)  Decrease in properties held for sale 74,015 1,507,398  Decrease in building rehabilitation loans 6,035 6,175  Increase in prepayments (583,585) (94,509)  Increase in other receivables (1,323,864) (85,931)  (Increase)/decrease in trade and   other receivables (16,024) 8,732  (Decrease)/increase in trade and other payables (480,783) 561,344  Decrease in investments at fair value   through profit or loss 385,108 2,226,641 Cash generated from operations 2,182,755 8,033,949 Interest received 297,846 167,505 Interest paid (69,791) (73,469) Net cash generated from operating activities 2,410,810 8,127,985 The notes on pages 101 to 138 form part of these consolidated financial statements.